~ You won’t remember the things you buy but you will cherish the memories of experiences shared with friends and loved ones. Spend your money on experiences, not things. ~
Hit 🧡 if you agree!
[Quote from: roysutton.co.uk]
“Typically, the subject of personal finance can be a dry, boring subject to read about. However, Dave Chilton's use of comic relief throughout the text made it very interesting to read. I discovered a wealth of new knowledge upon reading The Wealthy Barber Returns.” 📖 Our first ever book review has been published! Find out why we rated this novel a 4.5/5 by clicking the link in our bio! 📖
Sometimes you just need someone to run your financial plan by to give you that extra reassurance and make sure that you are on the right path. Well, two lucky winners will have the chance to go over their financial plan with me!! Check out the rules below. I’ll be selecting the winner on Wednesday!! ⠀
3) Comment on the debt payment methods posts which method is more appealing to you (snowball vs. avalanche). ⠀
4) Tag 2 friends in this post who you think can benefit from my content. ⠀ ⠀
May the odds ever be in your favor!! Looking forward to connecting with the winners!! Don’t be discouraged if you don’t win. I still plan on posting great content to help you on your journey@and you can always slide into my DM’s 😉 with questions.
If you’re expecting a tax refund this year, you need to have a good plan for your money. Maybe you already have the funds earmarked for some spending – but before you let your tax refund burn a hole in your pocket, remember that the government isn’t sending you a bonus check, but rather money that should have been yours all along. ⠀
Don’t get caught treating your refund check any differently than you’d treat your weekly or monthly paycheck. Give the money a purpose. Think about your personal financial situation, and determine your needs. Here are several financial priorities you may want to consider: ⠀
Start or Increase Your Emergency Fund - Without an emergency fund, just one surprise major expense can send you on a debt spiral toward financial disaster. ⠀
Pay Off High-Interest Debt - After establishing an emergency fund, the next best thing you can do with your tax refund is reduce or eliminate any high-interest debt that you’re carrying (see previous post on debt payment methods). ⠀
Start Itemized Savings Accounts - Putting your refund toward specific savings goals can prevent you from taking on debt down the road, when needs or desires arise. ⠀
Get a New Business Up and Running - Have you been looking for seed money to take your business to the next level? Do you have a venture that you want to start? You can use your refund to move in the right direction. ⠀
It’s ok to be BROKE but POOR is a mindset
See, POOR stands for passing over opportunities repeatedly that’s why those people stay there (either in mindset, spiritual or financial) .
and BROKE is just a stage of LIFE. See, there are always ups and downs in life and that’s just the season of growing .
So on this AWESOME SATURDAY GET YOUR MIND RIGHT 💡🤝 #itsjustHUSTLE
🙋🏽♀️🙋🏽♀️🙋🏽♀️Raise your hand if you agree. 🙋🏽♀️🙋🏽♀️🙋🏽♀️⠀
Learn to manage what you have FIRST and then focus on getting more money.⠀
Ready to get started? Schedule your FREE Money Strategy Consultation. Link in bio.⠀
2 1125 January, 2020
🎉🎉NEW BLANK HABIT TRACKER ADDED TO MY ETSY STORE🎉🎉
This template allows you to track up to 12 habits on a monthly basis simultaneously.
This timelapse gives you an idea of what your tracker could look like by the end of the month.
BTW I made up the results on this tracker for illustrative purposes - I think my actual January results are going to be worse than this!👀🤦🏿♀️🤷🏿♀️
How’s your January going so far? Grab a blank Habit Tracker to get a more accurate view of your performance next month.
There’s something about this visual aid that makes you take notice of where you are currently and where you’re lagging.
The link to my new tracker template is in my bio.
If there are any other trackers you’d like to see in the store, drop me a message or comment below.❤️
2 1625 January, 2020
I started making savings goals since 2018 which helped me start investing and building up my emergency fund, however I never had sinking funds. 2019 was the first time I ever heard about “sinking funds” and the first year I created them for myself. Here are my 2020 sinking fund goals. Some goals I met since last year and other goals are complete but I’ll have to make payments this year and re-start the goal mid-year:
Car Downpayment: I have an older car that is starting to show signs of major aging. I’m hoping it lasts me a few more years but I’m not sure. So I decided to save up for a down payment just in case. I was able to complete this goal last year and will keep it here until needed.
Travel: I completed my travel fund for this year, last year. I save the previous year so I don’t have to worry about having the money upfront already. Originally I gave myself $4K to spend every year on travel, but with upping my 401K last year, new savings goals, and paying off my debt, my travel fund had to be cut down. I’m hoping to only spend half the amount the next 2 years. Meaning $2K each year, for the next two years. We’ll see though.
Renewal Fees: I had a little extra money last month so I was able to fully fund my PT license renewal fee due February 2021 and my car registration/AAA fee due March and August of this year. I will begin a new sink fund for my PT license next January and begin a new sink fund for registration this August.
Gift/Holiday: Only goal I have left is my gift and holiday fund. I did this for the first time last year and it was a game changer. I set myself a certain limit and didn’t go over. I was able to stick to it and not have to dig into my paycheck for that month or into other savings categories.
Highly encourage everyone to create sinking funds and put them in a high yields savings account 👍🏽
2 2825 January, 2020
Brussels is a virtual treasure for art lovers, waffles and chocolates. You’ll see urban masterpieces in such huge walls. It’s inspiring to see them on the street and it’s free! 📱
I used an interactive map to explore the city.
Gooooooood Afternoon 💜 We all know what today iiiisssss #selfcaresaturday
How do you spend your selfcare Saturdays???? .
I woke up at 5:30 this morning, listened to Kirk Franklin Pandora Station, and watched the sun rise. That was the best two hours spent of my day so far. .
January has been super busy for me on Saturdays so I make it a priority to still find ways to take care of me. And the time to myself before everyone else wakes up is important to me and my sanity lol. .
Ladies, does fear of making the “wrong” decision with your money 💵 paralyze you & keep you from taking action?⠀⠀⠀⠀⠀⠀⠀⠀⠀
Do your financial decisions come with a double dose of anxiety as you stress about making a decision & then burn through more energy as you second guess the decision you just made?🤦🏻♀️⠀⠀⠀⠀⠀⠀⠀⠀⠀
When you become savvy about your financial choices & options, you can be deliberate about how you spend, save, & invest. No more second guessing - just decisive, forward financial action.🙌🏼⠀⠀⠀⠀⠀⠀⠀⠀⠀
Join me for the 50/50 challenge. 50 weeks. 50 financial tasks. You got this 👊. #savvydeliberatedecisive
It's no secret that writing a budget isn't the hardest part about budgeting. In fact, actually sticking to your budget and following through with it is most likely where you're struggling right now!⠀
An overwhelming number of people write a budget each month only to utter the dreaded words "I'll start over next month" after an unexpected expense or shopping spree. ⠀
And it doesn't take a mathematician to know that if you continue to "start over next month" that you won't make as much progress as you'd like.⠀
That's why I've created a list of 20 REAL ways that you can stick to your budget. If you implement these strategies, you are sure to make progress toward your money goals!⠀
And trust me, I know! These are the exact strategies that we've been using for over 8 years to make our budget work month in and month out. ⠀
It's what we used to help us live on less so that we could pay off over $111,000 worth of debt on 2 teacher salaries.⠀
Click the link in my bio to get this freebie sent straight to your inbox!⠀
Where do you struggle the most when it comes to sticking with your budget? For us, it's definitely grabbing food when we should be eating at home!⠀
= = = ⠀ #inspiredbudget#budgettips#budgettip#budgeting#budgetfriendly#budgetprintable#savemoney#moneysaver#savingmoney#debtfreejourney#debtfreecommunity#debtfreedom#debtfreelife#debtfreeliving#personalfinance#personalfinanceforwomen
5 34925 January, 2020
Are your living within your means?
To live within your means you are consistently spending less than you earn and put the surplus money towards savings.
WHAT YOU FOCUS ON GROWS!
Putting a small amount of money away to savings,even if it’s only a couple of dollars each pay it is one of the most important steps you can take to improve your circumstances so that it is less hard in the future.
You will feel less stressed and have financial choices if you build savings and don't have any debt.
Self care needs to be a priority for all of us! Whether that's taking a weekend to indulge yourself and have some me time or leaving your job and moving to the other side of the world like megs and harry ✈
Felt cute, won’t be deleting later! Because @maskcarabeauty has the power to make me feel SO GOOD in less than 10 minutes and for HALF the amount I was spending on makeup before 🤯 •
Send me those makeup free selfies so I can color match you this weekend or comment below with 🙋🏼♀️ and I’ll message you the details! GET OUT THERE, GORGEOUS! 💋
13 12425 January, 2020
Sometimes our limiting beliefs about money are not always obvious and are more held on the subconscious level which makes them even harder to identify._
What's one of your limiting beliefs about money? For ex. do you believe that people with a lot of money are greedy, money is hard to come by, money is the root of evil, etc. Share below.
Click the link in my bio @journeytolaunch to listen to the latest episode of the podcast.
Let’s clear something up. Your income does not directly impact your wealth. You can have a high income and zero wealth(because your money is all being spent)⛔️. You can have a lower income and be building your wealth (because you are choosing to save)💰It all comes down to #healthyhabits and living within your means. If your income is $1million/year and you spend $1.5 million/year you are poor. If your income is $60,000/year and you spend $30,000/year you are growing your wealth. You have a 50% #savings rate and can invest and make your money work for you. Don’t let income fool you. Wealth has very little to do with income and everything to do with #livingwithintention . Are you focused on wealth or income?!
Happy Saturday! I hope you’re having a great and relaxing day today. I’ll be running few money errands today. The quote above definitely helps to kick my butt and start doing my money strategy plan haha! #moneyexpedition#ilooklikeaninvestor#vanguard
1 1125 January, 2020
🇿🇦 Stats surrounding retirement contributions in South Africa are not looking good and those who do contribute towards their retirement don't fully understand what it means to contribute to a certain fund, how their contributions are invested, tax implications, tax savings, fees associated with managing the funds (especially retirement annuities). Take time to understand all these about your retirement and not get surprised at the last minute when your Retirement Savings are not what you expected.
Yes...I also only started learning about these things and doing my best to understand them only two years ago. I'm not an expert but will keep sharing what I learn❤👑
1 925 January, 2020
Wow 100 subscribers on my new YouTube channel! #excitedmuch
When I launched my channel a month ago, I wasn't sure if anyone would even watch it.🤷🏿♀️🤷🏿♀️🤷🏿♀️. I decided to feel the fear and do it anyway. 😊😀💪🏿🙏🏿🙌🏿👏🏿
Fast forward one month and I now have 100 subscribers! Yay me! I mean some may see that as a trivial amount, but when you actually deep it - that's ONE HUNDRED PEOLE interested in what I have to say! 😯😯😯How amazing is that!? ☺️☺️
It's so good to know that so many other people are interested in the topic of personal finance.
To say thank you to my first 100 subscribers I'll be doing my first ever giveaway! 🎁🎁🎁I'm still thinking of what it should be, so if you have any great suggestions leave them in the comments section below.
Finally, if you haven't subscribed to my channel, click the link in my bio and join in the money conversations. ❤️❤️💕💕💕💕
12 4825 January, 2020
Who’s up for some money-saving tips?
Who here believes that women should be in control their finances? 💪🏻👊🏻
Let me know in the comments below! 👇🏻
Not every 'No' requires an explanation. Say 'No' with your chest and keep it moving.😎😎
Especially when it comes to YOUR money. Don't let people make demands of you, or big plans for your money, if it's outside of your own financial goals and commitments.
I used to feel so guilty about declining invites to events. I'd feel obliged to go and would always find a way to make it happen even if I couldn't really afford to do so. I didn't want to let peope down.😇
"Where there's a will there's a way!" I'd always say. While this may be true, I'm changing my will. My will to become financially free, trumps my will to be a people-pleaser.😉😊😀
If I can be there then I will, but if its outside of budget and doesn't align with my financial plans, then its a 'NO' from me.❤️
Are you always explaining your NO?
Truth on truth on truth on truth.
Success is an iceberg on all the levels. #financecoach
5 5225 January, 2020
Why can't people do what we want them to? 😏
If only you could change people into what you want them to be...Ohhh wouldn't that be nice?
We've all done it. Told someone how they should live or what they should be doing, when they don't want to hear it (or can’t). It's hard though when you see the potential in someone and all they are capable of but they don't want it for themselves...or should I say they don't want what we want for them.
It may seem we have *their best interest in mind, and people can be really freaking difficult to deal with, but the ONLY thing we do have control over is our behavior.
We can choose if them not doing "x" affects us. It may take changing the way we think and removing ourself from the situation to see it though.
We usually think we have the right intentions, but some people just don't want to hear it...they need to figure it out on their own. And that can be super difficult, especially if it's someone you love.
My advice: Try your best to be a positive influence in their life and lead by example. Do the best you can and be the best YOU possible, because you do have control of that.
Here's to positively influencing others and removing our expectations of them.
Walking away from my mistakes like ✌🏻👋🏻 Yesterday I made a bunch of dumb decisions, which lead to me not feeling my best. (2 of which involved $9 truffle fries + a pina colada)
But you know what?! I’m human. I’ll make more bad choices. NBD
Today I got to start fresh. I got to call my shots. I got to make good choices.💫 It’s just like mistakes with money. We’ve all done it. I know I have!
Maybe you maxed out a credit card (or 2...or 3). Maybe you spent too much on shopping, at the bar or even a vacation. (Gulp!) Maybe you haven’t started saving for retirement yet.
Whatever position you’re in, just know that it’s not too late to make a change. To spend wisely. To start a budget. To make different money choices. 💰
It can be hard to dig yourself out of those places, but it IS possible.
Yesterday is in the past. Learn from it. Grow as a person. Try your best. Because more mistakes will come. Hopefully they’ll just be different ones. ❤️ Double tap if you can relate. Sending you lots of good vibes as we head into the weekend! ✨
📸 I will forever be posting warm-weather pics because I despise the cold ☀️ #knowbetterdobetter#wereallhuman#whereareyouspring
3 3325 January, 2020
It's January 2020. Did you start your plans and stay on track? Still need to get started? Or are you somewhere in the middle and need a little help? The great news is: It's Never Too Late To Get Started!! Let's Go!! #financialplanning #lifeinsurance#family
CALL US: 800-975-2579
L.C.TURNER & ASSOCIATES
Changing and Transforming Lives, One Family at a Time
DM FOR INFO
Happy Friday! You made it to the weekend! 🎉🎉🎉
Weekdays may be all about finance, but on the weekends Laura and her fam are all about Futsal!
What are you up to this weekend?
2 2725 January, 2020
Cheers to weekend!!! I don't know about you all but I'm going to get in some relaxtion this weekend. I'll also get in a little bit of fun as I have a birthday party to attend!! A good friend and mentor is celebrating the 50!!!! Also, since we are approaching the end of January, I'm going to do a check in to confirm that I am on track with with financial and personal goals for this year.
These check ins are necessary so that I can course correct as needed and determine what I need to start and stop doing 😳
🛒 Before I budgeted, this trip to @costco would have been STRESSFUL. “Almost $100 on paper goods and toothpaste? Where is that kind of money going to come from!?”
I am SO THANKFUL for the freedom our budget brings to our financial life 👏🏼 Not only can we set aside a little cash at a time to save up for these necessities, we can pay CASH because of the planning it requires! •
Okay, tell me- What should I add to my list for my next Costco run? 👇🏼
38 10125 January, 2020
Invest In Yourself Everyday. It’s The Best Investment You Will Ever Make. Get Intentional.
1 6225 January, 2020
So, ladies, why is it worth your time to calculate your net worth? ⠀⠀⠀⠀⠀⠀⠀⠀⠀
☑️ Provides a 1-page overview of your total wealth⠀⠀⠀⠀⠀⠀⠀⠀⠀
✅ Provides a clear picture of what you own (assets) & what you owe (liabilities)⠀⠀⠀⠀⠀⠀⠀⠀⠀
☑️ Provides motivation for reaching your goals. Whether you are pleasantly surprised or can no longer stay in denial about a dismal situation, seeing your numbers exactly as they are in black & white can have a powerful influence on your actions going forward.⠀⠀⠀⠀⠀⠀⠀⠀⠀
✅ Provides perspective. Building wealth & saving for the future is a long game. It's easy to constantly be thinking ahead & as soon as we reach a financial goal immediately start tackling the next one. But, it's important to pause & celebrate each win!⠀⠀⠀⠀⠀⠀⠀⠀⠀
☑️ Once created update your Net Worth Statement annually OR after a big financial move (i.e. paying off a loan, making an IRA contribution, etc.) for clarity, motivation, & perspective.⠀⠀⠀⠀⠀⠀⠀⠀⠀
📌 This task is part of a bold financial challenge for women - 50 weeks. 50 financial tasks. Designed to start at any time & end this year with financial clarity & confidence. #savvydeliberatedecisive ⠀⠀⠀⠀⠀⠀⠀⠀⠀
👀 Watch for a new task every Tuesday!
1 1225 January, 2020
I made an extra student loan payment of $250 sometime last week. I was unaware on how to have my payments only be applied to the principal until a few weeks ago. My loans have been refinanced through SoFi since October so I wasn’t familiar with their website and their process.
For SoFi, you have to submit ‘Standing Payment Instructions’ on how you want your extra payments applied. If you do not do this then all of your payments will be applied to any accrued interest first and then the principal. However, you want extra payments to reduce your principal since your interest is calculated on your principal and the lower your principal the lower your interest will be.
On their website it states you either have to call them, secure message them on the website or fax them (what year is this bruh?) but anyways I sent them a secure message and they replied back rather quickly and told me I should wait a few business before making a payment to ensure that it will go through with the new payment instructions I had sent them. I basically said something like “please have all future payments that are not auto drafted on my due date to only go to the principal.”
When the payment first is processed it will show that it went to interest and principal but they will readjust within a few days. It’s a manual process for them. I logged in a few days later and sure enough my entire $250 went to the principal only. Praise the Lord.
Phew! That’s a wrap folks! Queen of Money 👸 duties complete as the Plug your money leaks challenge has finished for another time
. ✔️ 242 ladies in their pjs talking about money have transformed their relationship with money
✔️242 ladies who have plugged so many money leaks
✔️the launch of my best work in my brand new ‘Female Financial Foundations’ course (18 months in the making!) .
...and one lady Nicola Boswell who just told me “I can't tell you how much this week has helped me completely change my mindset. Honestly you've probably changed my life and the life I can offer my son going forward.“ My heart just melted. .
Here’s some of their comments:
“This challenge has really changed my mindset with money”
“This is literally the most positive thing I’ve done for myself in years and years”
“This has been an eye opening, insightful, emotional and practical challenge that has been about so much more than money. I have LOVED it, even the difficult parts which although tough have shifted something in me. Absolutely brilliant. Catherine Morgan, thank you so very much and see you on the Financial Foundations Course.”
“Inspiring, practical and supportive! Just completed the Plug Your Money Leaks challenge- have shifted how I view money, gave me courage to ask to be paid more and using the tips feel set up to rock managing our money this year! Thank you Catherine Morgan!”
I’m off to have some me time with a face mask and some music 🎧 .
Throwback to belting it out with my PF ladies (@millennialboss@treadlightly_retireearly@fetching_freedom) at my favorite karaoke place🎶. Here's to all day Sunday happy hour prices🎤! I've been coming here for years and only just discovered they have a room that allows you to turn the wall that faces the street from opaque to translucent and a button that makes your microphone project onto the street😬. Maybe one day I'll be brave enough to try it...
If you were to ask me my opinion on budgeting 8 years ago, my honest answer would be that I hated it.
As some of you have probably figured out, it's REALLY hard to make budgeting a normal part of your day.
It can seem boring, frustrating, daunting, and draining.
It was one of my first struggles with bringing money management into my life. I always had an excuse, I never wanted to take the little time I did have to work on my budget, I always felt confused, and the whole process just seemed like a lot to work.
I had to figure out a way to make every day budgeting fun and exciting.
Learning more about myself, I discovered I was a visual learner. I also found out that I had a lot of creativity and passion for design. I started incorporating these two things into my budgeting method, and then all of a sudden things didn't seem too bad.
For the first time, I was EXCITED to work on my finances because I could SEE my progress, I was challenging myself more, and I was still able to bring the creative element that I loved into my budgeting & finance routine.
I'm constantly working on ways to keep this journey exciting and fun for you. It helped my mindset tremendously, and I'm hoping to bring that level of excitement into your life as well.
For the newsletter tomorrow (you can subscribe here >> thebudgetmom.com/subscribe), I will be sending out a new set of savings and debt trackers.
It helps a lot to change things up, and use something new and beautiful in your daily routine.
Every day I think about all of tools that helped me be successful on my journey. Visual trackers was one of them.
Make sure to subscribe to my Friday newsletter before tonight to get these free trackers in tomorrow's newsletter.
Do you use visual trackers on your financial journey? How has it helped you? #budgettips
294 7,27023 January, 2020
Welcome to the brand new distribution center & headquarters for The Budget Mom!! I'm so excited to share this with you.
For over 4 years, I ran TBM from the itty-bitty corner of my kitchen in my 800 square foot apartment. At times, it made my home life a little bit chaotic and messy, but I always made it work.
Bringing packaging, shipping, and distribution in house for my business was a huge leap, but ultimately it was something that I knew I had to tackle.
This means a whole bunch of new things for TBM.
1. We will now be able to hold inventory longer with our larger facility. It has been a goal of mine to offer my life-changing products year round.
2. We will be offering free local pickup for my readers.
3. Now, with a physical location, I can really start the negotiation process to decrease shipping costs.
4. I will be able to start the process of growing a much larger TBM team.
Over the last three weeks, I have experienced a lot of firsts. I drove a box truck for the first time. Learned all about commercial and industrial insurance. Figured out what a #2 Robertson Screw Driver was. Used a ratchet wrench for the first time, and so much more.
We will be posting any jobs that come available, and I will let you know when that time comes. I'm honored to offer more job opportunities in my city.
I will be posting a video on my stories here soon giving you a full tour of our new facility and the benefits this huge steps brings to TBM and my readers.
Thank you to Baldwin Signs here in Spokane for making me my first official business sign.
Nice Things Are Nice But Financial Freedom Looks Better.
If you truly want to build wealth that lasts, you have to be willing to let go of behaviors that stand in your way. One of the key things to embrace is Delayed Gratification. It is a key trait in becoming successful.
Resist the immediate reward for the long term reward. Build wealth on purpose. Get Intentional.
We did the 300K Follower Giveaway just last month, which means The Budget Mom gained over 100,000 followers in just over a month.
Thank you to everyone for your support, and welcome to all the new followers to the TBM Family.
To celebrate such a HUGE milestone, we are doing one of our biggest giveaways yet.
SIX lucky winners will win.
A Yellow or Purple Budget By Paycheck Workbook
$25 Starbucks Gift Card
1. Like this post.
2. Follow @thebudgetmom
3. Tag 3 friends that would love to win.
Make sure you tag each friend in a separate comment for more chances to enter. Three tag limit.
Giveaway ends on Monday, January 13th at 8:00pm (Pacific Time). I will be announcing the winner on Tuesday the 14th.
Feel free to share this giveaway in your stories. I would truly love and appreciate it.
This promotion is no way sponsored, endorsed or administered by, or associated with Instagram.
I finally finished my February budget calendar. Next up, is getting all of this into my February budget.
I have a lot happening in next month.
One. There is Valentine's day. Luckily, and thanks to my sinking fund, I have saved $100 cash for this occasion. Chris and I don't go crazy, but I do like to get him something small, and we usually do dinner and a movie. 99% of the time, at home.
Two. I'm traveling...again. This time it will be a 100% business trip at the end of the month.
I'm currently getting paid once a month on the 1st. This makes my tracking period really simple. I track my spending from the 1st to the last day of the month.
What happens when you get paid on the last day of the month, like the 30th? Do you count that as January income or income for the following month since you are using that paycheck to pay expenses in the following month? I get this question a lot.
If you want to track your spending like me, you would still count that paycheck as current month income, so for example, it would be January income. You would then rollover any unused income, which could be the entire paycheck, into the new month, and use that income to pay for the bills in February. You just need to make sure you include that unused income in your starting balance for the following month, in the example it would be included in February's starting balance.
The reason I track it this way is because I like my income to be a true representation of when I received it. If I received it in January, even on the last day, I still see it as January income.
There are many ways you can do it, and there are some people who just count it as the following month's income. You have to track it in a way that makes sense to you. You are the only one who has to understand it.
Did you complete your February budget calendar yet? #budgettips