Money 101 by Erica Holland of ModMoney - Camille Styles

Summer is finally upon us here in Austin. It's sunny, 90 degrees, and just muggy enough to be slightly uncomfortable. No matter where you are, I hope you're shaking off the lingering chill and embracing the heat. As we welcome a new season, I'm excited to share a few pieces I've written for the Money 101 column on

Camille Styles is an Austin-based lifestyle site that brings a fresh approach to health, fitness, fashion, beauty, and professional goals. At its core, Camille's brand inspires healthy choices and happy lives. Financial wellness is an important part of a healthy lifestyle, and I'm excited to cultivate that message on a new platform (in addition to the ModMoney blog). Stay tuned for a new post each month on In the meantime, here is a roundup of some popular content. Happy reading!

5 Simple Steps to Create a Personal Budget | ModMoney

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Creating a budget is one of those items that always falls to the bottom of our to-do list. Perhaps because the mere term "budget" elicits a bitter sense of restriction. The problem is that we’re going about this all wrong. The right kind of budget should empower us rather than confine us. It should equip us to achieve our long-term goals rather than deprive us of enjoying the present. We should be allowed to spend money on things that make us happy, without guilt. These 5 steps will help you build a budget that does just that.

Pro tip: Creating a budget just got easier. At the bottom of the post, sign up to download my free personal budget template.

HSA vs. FSA for qualified medical expenses

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There’s nothing more deflating than sifting through confusing health insurance jargon on your first day of work. Doubly discouraging is the fact that this is actually important stuff! We know basic healthcare coverage is a must. But proactively saving for future medical expenses is also important. To make this topic manageable, let’s break down the two tax-advantaged ways we can save for qualified medical expenses. Here’s what you need to know about a Health Savings Account (HSA) and a Flexible Spending Account (FSA).

How To Pay Down Debt Once And For All | ModMoney

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Living with high-interest rate debt is overwhelming. You feel exposed. You feel burdened. You feel like you’re crumbling under a weight that just keeps growing. Whether you took on student loans to get through school or swiped your credit card a few too many times, you can work through it. By shifting your mindset and breaking down action items, you can start tackling your debt today. Let’s get started!

Options for rolling over an old 401(k)

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Think about the last time you started a new job. It was an exciting time, right? A new job is an opportunity to start fresh. It's the time to enter a new office, hone new skills, brew new coffee, greet new coworkers, and most importantly, open a new retirement plan. Many of us have started a new career and wondered what to do with the 401(k) from our last job. We worked hard to save and don't want to sacrifice it with an avoidable mistake. Here are three things you can do with your old 401(k) to keep your savings safe—and one thing to avoid.

Roth vs. Traditional IRA

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Confession: when I graduated from college, I did not know the first thing about a Roth IRA, much less how it differed from a traditional IRA or a 401(k). It took countless phone calls to my parents and a few "Roth vs. Traditional IRA" Google searches for me to finally get it down. In fact, a Roth IRA may be one of the most baffling personal finance concepts for millennials. And this is a serious problem because a Roth IRA is actually a helpful, tax-efficient way to save for retirement. Especially for young people!

Best Emergency Savings Accounts

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If you keep up with ModMoney, you know I talk a lot about the importance of saving early to build wealth. By now, you are an expert on the power of compound interest and the ability of time to exponentially grow your nest egg, allowing you to retire earlier than you ever thought you could.

Most of us save primarily through an employer-sponsored retirement account like a 401(k) or a Roth IRA. However, your savings should not stop here! You can't withdraw from your 401(k) until retirement, so it's important to have savings you can access earlier. This savings account should protect you against unexpected events and expenses. But how much should you save, and what are the best high-interest savings accounts? Here's what you need to know.

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How to Save Money Automatically With Digit | ModMoney

This post may contain affiliate links. Saving money while you're young is one of the surest ways to build wealth. I talked about the importance of saving early in this post, but here's a quick refresher. When you put money into a savings account, your dollars earn interest. As time passes, you earn interest on your original balance AND on the interest you have accumulated. Earning interest on interest allows your savings to grow exponentially each year.

How Technology Is Changing Investing | ModMoney

This post may contain affiliate links. We've all come to terms with the fact that technology is changing our world. Toddlers now have iPads, respectable adults play Pokemon Go, and robots can perform human jobs. Well, the investing landscape is no different. Technology is fundamentally changing the way we invest.

It matters because it's important to have a long-term investing strategy. Especially at a young age! Your 20s is generally the time when you can afford to take on some risk and allow your nest egg to grow exponentially (thank you, compound interest). While investing without any knowledge of the subject can seem daunting, technology is making it easier for new investors to get started.

The Importance of Saving Early | ModMoney

We’ve all heard it time and time again. We should start saving as much as we can, as early as we can. But why? As a 22-year-old in my first real job, I was tempted to contribute just a minimal amount to my retirement fund every month. After all, for every dollar I contribute, that’s one less dollar I can spend today on things that are way more fun than a 401k (Soulcycle and brunch are expensive, y’all!). Plus, I’ve got the rest of my life to save, right? This thought process is so common among young professionals who don’t fully understand the value of compound interest.

5 Things to Know About Your 401(k) | ModMoney

Saving for retirement can be a daunting and seemingly faraway concept for a recent college grad or young professional. After all, we're all navigating through busy lives and other more immediate financial obligations. Still, it's important to start saving early (here is the reason why), and a retirement account like a 401(k) is a great vehicle to save into. This post boils down the 5 things you need to understand about your 401(k) so you can effectively save for your future AND prepare for near-term obligations. Like paying off those student loans. Or making a down payment on that dream house. Or buying that new car. You get it.




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Erica Holland | ModMoney

Meet Erica

Erica is an Austin local, Duke grad, and creator of ModMoney, a platform bringing a fresh perspective to personal finance. She believes financial health is an important part of living well and hopes to empower others to make informed, proactive choices with their money. Find out more.


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