I was featured in Washington Post!

Yours truly was featured in a recent Washington Post article! Jackie Veling recently interviewed me for the most recent edition of Millennial Money, asking the question: Is Flex worth using for rent? I appreciate being able to include my perspective on this super important conversation.

Flex is basically a buy-now, pay-later type of tool for your monthly rent. Flex pays your rent on the 1st, and you pay back Flex in installments throughout the month. It’s $14.99 to use the service, plus 1% of your rent.

There is absolutely no shame in needing to use something like this, particularly if you earn variable income. Artists, creatives, gig workers, and contractors come to mind. But I also know folks who use Flex who are full-time employees, but they just get paid on weird dates that don’t align with the 1st of the month.

Flex can be useful if you need help regularizing your cash flow. But I also see it only as a temporary tool that you graduate from eventually. The MINUTE you have your cash flow right, cancel the service! It should not be used as a permanent solution. Plus, it’s costing you at least $20 per month – imagine what you could do by saving that money instead!

If you use YNAB (You Need A Budget), you might be familiar with one of their tenets: live on last month’s income. Basically, it means that your budget for next month is completely funded before the new month rolls around. This is a great way to get your cash flow right without the need for a Flex-type tool, even if you don’t use YNAB!

Also, please remember that Flex is not paying rent for you. It’s a short-term loan that you must pay back. If you have issues paying your full rent, this is another issue all together because if you don’t pay back Flex on time, you risk eviction… I don’t wish this for anyone.

Good cash flow management is essential for a solid financial foundation. While I see Flex as a good tool to get you to good cash flow management, there are other, less risky ways to get you there.

I’m talking about working with a financial coach! That’s where I can support you! One of my specialties is budgeting and cash flow management, so hit me up if you’re curious about improving your cash flow.

Either way, I 1,000% believe you can manage your cash flow without Flex. But if you must, Flex is a good (and remember – temporary) solution.