How to Make Money Moves with Nicole Victoria

I grew up in a family without a lot of money and quickly learned that if I wanted a different life, I had to create it myself. I put myself through university, taking extra classes each semester to earn a four-year degree in just two years to save on costs. Despite graduating with $40k in student debt, I landed the “dream job” I thought I always wanted.

However, it didn’t take long to realize that corporate life wasn’t for me. My dreams of climbing the corporate ladder were replaced by a desire for time and financial freedom. I began learning about money, personal finance, investing, and real estate. I got my real estate license and became a top broker, helping hundreds of clients buy and sell homes with a data-backed approach, focusing on their finances and viewing the home as an investment.

Financial success followed: I flipped my first home for a six-figure profit, paid off my debt, built a $100k savings by 25, and paid for my wedding in cash. Friends and family started seeking my advice on money matters, so I began teaching and supporting them. During the pandemic, I saw how many people were struggling and realized the massive gap in financial education. That’s when I decided to create an Instagram account to share what I’d learned.

My approach is holistic: most people think about tactics like which accounts to use or how to invest, but they miss the crucial part—behavior and mindset. Knowing what to do is one thing; doing it is another. I don’t believe in budgeting because it’s an external solution to an internal problem. Most people know they should save more, pay off debt, and learn to invest, but they don’t. A budget won’t fix that because the issue isn’t about math; it’s about behavior.

My account blew up, leading to features on big podcasts like Girls Gotta Eat, becoming the Official Money Coach for Narcity Canada on their online show All Things Money, and articles in Business Insider. This exposure led to a book deal, and I published my first book, “All Things Money by Nicole Victoria,” in August 2023.

Seeing how many people lacked financial education and recognizing the gaps in the existing education inspired me to start coaching. I’m fascinated by psychology, behavior, and how the mind works, which I believe are essential for making lasting changes with money once you have the right tools. I knew what it felt like to think you’d always struggle with money, and I wanted to show people that positive change is possible, often more quickly than they think.

The biggest mistake is thinking that buying things will bring happiness when it often brings sadness. People go into debt or live paycheck to paycheck because they overspend, believing the next purchase will make them happier. They think (consciously or subconsciously) that this purchase will make them more liked, desirable, or successful, or add joy to their life.

While purchases can bring happiness, there are diminishing returns. The first car brings immense fulfillment—no more transit, freedom, easy grocery trips. The second car brings slightly more happiness, but each subsequent purchase offers less satisfaction. People chase this high, but it never comes, causing financial distress. They end up buying sadness with hard-earned money.

To overcome this, learn about your personal values and goals, and address the mindset behind your spending. For example, a mother unhappy with her post-baby body might overspend on clothes, thinking they’ll make her feel better. Instead, focusing on self-love and compassion can heal the root issue. Once you address the mindset, you can align your spending with your true values and goals.

Instead of traditional budgeting, which focuses on restriction, I look back to see where my money has gone and the happiness those expenses brought me. Life’s point is happiness, but most people don’t know what happiness is to them. I create goals that align with my dream life, reverse engineer them, and “pay my future self first” by setting up automatic transfers to goal accounts each payday.

The remaining money is mine to spend freely, but understanding what’s truly worth my money and considering opportunity/tradeoff costs helps me spend consciously. I teach a principle called WPM (Why Pay More), which emphasizes getting the same benefit for less whenever possible.

First, understand the root cause of your debt. Address the problem, not just the symptom, to break the cycle. I paid off $40k in debt in 18 months using what I call the ICE Debt Repayment Method:

1. Illuminate: List your debts, who you owe, minimum payments, and interest rates, sorted from highest to lowest interest rate.

2. Cut Costs: Identify and eliminate expenses that don’t align with your values and goals. Negotiate to reduce costs where possible.

3. Earn + Educate: Find ways to increase your income, like negotiating a raise or selling unused items. Use this extra income to pay down your debt.

Pro tip: Put your credit card on ice—literally. Freeze it in a ziplock bag of water to create a barrier between you and temptation.

• Always negotiate—84% of employers expect it, and not negotiating leaves money on the table.
• Set a meeting with your boss to clarify role expectations and what it takes to exceed them. Send weekly updates to keep your hard work visible.
• Use these updates to build a “brag book” for negotiating your next raise.
• If your company offers a retirement match, always take it—it’s part of your compensation.
• Avoid lifestyle creep; upgrade savings and investments before upgrading your lifestyle.
• Invest as soon as possible—money invested in your 20s is worth twice as much as in your 30s due to the time value of money.
• Use credit cards responsibly—pay off the balance immediately and use a cashback card to build points. If new to credit cards, pay your bill weekly to avoid surprises.
• Set tangible goals and automate transfers to those accounts each payday to prevent self-sabotage.
• Learn how money works—money isn’t everything, but everything takes money.
• Remember, retirement isn’t an age; it’s a number in the bank. You retire when your passive income covers your expenses.

• It doesn’t have to be perfect; it just needs to be done. Give yourself grace and know you won’t show up the same way each day – and that’s okay. Showing up is what matters.
• Small steps lead to big results. Success is built on daily habits, not one huge leap. People don’t decide their futures; they decide their habits, and their habits decide their futures.
• See mistakes as learning opportunities. You only fail when you give up.