Nicole Victoria’s Financial Coaching Biz ‘No Budget Babe’ Gives an Unlikely Solution to Growing Your Wealth
Nicole Victoria’s life sounds like a screenplay for a Lifetime movie. You know the plot—family problems, young love, hard times, and then a fantastic finale.
But Nicole Victoria is not a character in a movie. She’s a real-life person who has lived an incredible journey. Most notably, she’s a financial guru who has the grit to take chances and the savvy to turn those chances into cold, hard cash.
As a Money Coach and Financial Literacy Advocate who specializes in helping 20 and 30-something women find financial freedom, Nicole Victoria is all about sharing her tricks of the trade. She teaches her clients how to effortlessly manage their money and build bank accounts that never stop growing.
Back to the beginning
But, back to that Lifetime movie script. There were certainly problems and hard times. Let’s face it. No stone-cold financial powerhouse gets to the top without some struggles.
At age 16, Nicole moved out of her parent’s house to live on her own. This independence brought responsibility, and she had to drop out of high school to work full time and support herself. As they say, “Adulting is hard.”
Nicole eventually hit rock bottom, drinking and partying too much. And one day, enough was enough. She decided she would finish school and go to college, where she completed a 4-year degree in only two years by taking extra classes each semester. And even though getting her Bachelor’s of Commerce was an essential step to her financial success, it initially left her $40,000 in debt.
Snagging a corporate job as a pharmaceutical buyer and working weekends at a real estate brokerage was the first step in paying down that debt. But Nicole knew she needed more ways to generate cash. It was not until Nicole learned how to ‘win’ with money that she began to thrive. For Nicole, ‘winning with money’ means understanding how different types of incomes work and the psychology behind building a financial portfolio. When these aspects became clear to her, she began to see her life change.
No Budget Babe is born
And those changes came fast and furious. A self-taught financial whiz, Nicole grew her worth from the negative to $500,000 in a few years. At this point, she knew she was on to something big that she could share with others—and that’s how her company, No Budget Babe, came to be.
From the beginning, Nicole had one goal for her company— to teach other women how to take control of their finances so they can finally start living the lives of their dreams. Finding this opportunity was just as beneficial for Nicole, who always knew that the 9 to 5 life was just not her style.
Being married to her high school sweetheart, Justin, and raising 2-year-old Liam keep her quite satisfied. However, Nicole has some pretty impressive stats on her resume. Aside from being named one of Yahoo Finance’s Top Money Coaches to Follow in 2020, her break-out company is on track to hit seven figures this year. Not bad for a pandemic-era start-up.
But wait—there’s more. Remember that $40,000 in college debt? She paid that down to $0 in a year and a half. And that $500,000 of net worth generated in her 20’s was her real estate and stock market know-how hard at work. Now in her 30’s, Nicole is a self-made millionaire who wants to teach others to do the same.
The No Budget Philosophy
You might think her approach centers around a strict budget—and you’d be wrong. Nicole explains how she feels about budgets. “My leading philosophy that I teach, and what separates me from every other personal finance coach that I’ve seen, is my belief that budgets don’t work.”
This conclusion, Nicole says, is grounded in data. “Studies have shown that time and time again, budgets do not work long term. I believe that budgets are the diets of the financial industry.”
Nicole explains that with a budget, as with a diet, you may get short-term results, but you will eventually feel deprived and restricted. This feeling nearly always leads to a spending binge the same way restricting your diet leads to binging on food. When it’s all over, you feel defeatso you budget or diet again.
“Additionally,” states Nicole, “an overreliance on a budget as the solution to all your problems keeps you broke. We like to think it’s this magic pill. If you’re struggling with finance, ask anyone what to do, and they’ll ask if you’ve made a budget.” Nicole explains that the budget solution, although popular, is highly ineffective. Therefore, her best advice is an unlikely solution—ditch the budget.
Ditch the budget
Nicole’s philosophy of ‘no budget’ was the jumping-off point for her coaching business, No Budget Babe. A firm believer that knowledge is power and there are no magic pills that make you rich, Nicole says the only thing standing between you and your financial freedom is your mindset. When you’re ready to ditch the budget, the No Budget Babe, Nicole Victoria, has some sound solutions to help grow your money to financial freedom.
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