Let’s talk finances! Today my brother and I decided to invest some money 💴 in a particular stock that I’ve been eyeing for a while. Normally I don’t include him when I do stuff like this but I feel like he’s old enough to start. I’m trying to teach him how to budget and not spend more than he needs to. I had to learn this too myself when I was his age and I’ve done the best I could. I’m trying to get him started on an emergency fund and an expense envelope that will contain all the money he needs for expenses per month. Also to not get any debt. So far for 21 he has none and I’m trying to persuade him to keep it that way. When you have financial freedom life is so much better and so much more comfortable. If I can persuade the generation coming up after me about the importance of not having debt and saving then I’ve done at least one thing right. I’m also teaching my five year old financial literacy by allowing her to deposit money to her own account and checking her balances and interests etc. She’s doing pretty well. How are you helping your family and those coming up after you to make better financial decisions?
Ps he thinks he’s a baller in the video lol. I had to mute it because he was talking mad crap lol.
#financialliteracy #money #investment #saving #emergencyfund #debtfree
One of the most important parts to your financial health is your “rainy day” fund. Ya know, the money that you set aside that you can tap into in the event of an emergency. This could include things like car trouble, unexpected medical expenses, job loss, etc. Experts recommend setting aside 3-6 months worth of fixed expenses in an account designated as your rainy day fund. Let’s say that on a monthly basis your rent is $500, your car payment is $200, your student loans are $200, and your groceries are $200. Based off of this information, a proper emergency fund would be $3,300-$6,600. Start small by saving part of your paycheck each month until you hit your savings goal. Adequately funding this account should be a high priority if you wish to finesse your finances. Remember, this is for emergencies only!! I hate to break it to ya but having those new pair of shoes is not an emergency!
Why do most diets fail? Too complicated!!!! Same with budgeting! If you need to sit for hours to do a budget each week, most likely you’ll be “too busy” and fail!!!!! This is me with exercising! I am good for a 30 minute work out, but 90 minutes? Stick a fork in me!!!!. I spend no more than 30 minutes on a Saturday morning working on my budget with a nice cup of coffee ☕️!
I’d be curious the amount of time you spend on your budget each week!
CAVC is happy to announce we will be bringing you a series of financial wellness workshops in English and Spanish throughout the year. This will be done in collaboration with other agencies and partners. Our goal is to inform the community about the importance of personal finance knowledge as a tool to reaching financial wellness and other financial goals. #BeCommunityAction #FinancialWellness #EmergencyFund #GoalSetting
That’ll be all your 💴 💵 please!! 🤣
But seriously though...if you own a car, it’s that much more important to have an emergency fund tucked away. Even routine maintenance work can suddenly cost you a surprise $1000.
Planning on buying a car? Include an emergency fund top-up in your savings plan so you don’t look like this☝️when you get hit with a bill 😝
Totally forgot to post what I’ve been getting rid of for the #minsgame
thus month!! I lost count of the number of items but I think I’m making progress lol once this box is full it’s going to Goodwill. I’ve also sold about 7 things on Mercari this month! 🙌🏾 thanks to @mommagoesminimal
for the reminder 💕
Just in case... my least favourite phrase!
When we buy things “just in case” we ignore delayed gratification. We teach ourselves that we can have things now when we should be working our waiting muscle. Even just delaying a few days can make a huge difference because it gives us clarity on what is really essential.
When we keep things “just in case” we let them take up space in our homes and our minds that could be used for another purpose or just kept empty.
There are always going to be “just in case” items in our homes... medical supplies, first aid kits, perhaps some clothing items... but I challenge you to think about what you are buying or keeping “just in case” and what truly has a place.
Doing some #personaldevelopment
while waiting on new tires. It pays to have an #emergencyfund
bc we didn’t plan on buying four NEW tires today. 🙈 P.S. Really enjoying “The Power of Moments” by Chip Heath and Dan Heath!
Ever realize how when you attempt something and it doesn't go according to plan, you're faced with this new challenge of wanting to keep going after the original goal, but now you have to think of an entirely new way to get there? It's kind of interesting and it's kind of frustrating. You learn to give up things like your pride 😳and try to give up things like coffee ☕️ And you figure out a way to get fired up and excited about trying again! #budget #save #emergencyfund #keeptrying #motivation #babysteps #inspiration #habit #behavior #success #tryagain
Double tap if you want to live a life of financial freedom!⠀⠀⠀⠀⠀⠀⠀⠀⠀
In 2016 my husband and I paid of $39,000 of debt. ⠀⠀⠀⠀⠀⠀⠀⠀⠀
In 2017 we saved $33,000 cash, bought our first house, renovated it, quit our jobs, and moved 750 miles (into said house).⠀⠀⠀⠀⠀⠀⠀⠀⠀
2018 has been a real challenge. I've been working to grow my business, my husband was in a serious accident and out of work for a while, and now he's starting school and all the financial weight is on my shoulders. ⠀⠀⠀⠀⠀⠀⠀⠀⠀
The only reason we have been able to make this year work is because we planned for it. We saved our money so we could take a leap, and jump into our dreams. ⠀⠀⠀⠀⠀⠀⠀⠀⠀
My dream is to pay off our house by the end of the year. It will be an absolute miracle, but I think it's possible. Here's to paying off the last $45,044.66 in the next 4 months. #debtfreecommunity #paycash #savemoney #debtfree #futuremillionaire #daveramsey #debt #debtfreejourney #nomoremortgage #budget #zerobasedbudget #financiallyindependent #financialindependence #financialfreedom #financiallyfree #frugal #moneygoals #bossbabe #moneysmart #moneysmarts #womeninbusiness #selfemployedlife #incomegoals #womenentrepreneurs #ladyboss #womanonamission #determinedtosucceed #babystep6 #emergencyfund #dreambig
Save money today to prepare for whatever tomorrow holds.
Five Reasons to Save Money
1. Emergencies - For when life happens.
2. Children's Future - For their education and much more.
3. Retirement - To fund our freedom.
4. Expensive Purchase - For the larger things in life.
5. Financial Independence - Become Wealthy.
Set up an automatic pull of a percentage out of your paycheck into a savings account.
Need help figuring out how many months of your expenses you should save up? You can use the 3-6-9 Rule for Emergency Savings.
3 M - Single, No kids and have little to no debt.
6 M - Family, and/or large financial responsibilities.
9 M - Freelancer or business owner and/or huge family with lots of financial responsibilities.
Or work your way to 6 months in my 10 Critical Jumps [Side Quest]
Your Children's Future may include supporting a dream they would like to pursue.
Retirement is so important. I may create an entire world based on this. If you are 30 years old or older and don't have at least $30K in a retirement account, you ARE falling behind! If you are 37 or older, check out my post to see how much you should have.
And so much more! Link in bio @sootomoto
#sootomoto #personalfinance #finance #financialeducation #savemoney #save #money #saving #education #selfeducation #financialindependence #fi #children #future #game #debt #learn #debtfree #babysteps #daveramsey #coach #emergencyfund #life #wealth #savingmoney #instafinance #investing #credit
Regardless of your religious or spiritual background (Agnostic raised Catholic 🙋🏼♀️), I think we can all find wisdom in the words of the serenity prayer.
A couple of days ago, I found out I would have to dig into my emergency fund to pay for a crown and a filling 🤦🏼♀️ I’m finding this whole use/replenish process a little bittersweet.
The plan is to save $500 ASAP and replenish the remainder of my $1000 fund over the course of 2-3 months. Here are my thoughts on how to make that happen:
1. Bonus! I just received my bonus, an awesome kick start to my emergency fund. Tip: tax season is another great time to set some money aside if your budget is tight. Which brings me to point two...
2. Rejigger the Budget! Cutting a little bit here and there to prioritize the emergency fund. I’ve been surprised how easy it is to say “no” to budget busters now that I actually have one — go figure 🤷🏼♀️
3. Supplemental Income! Time to sell those shoes and books I haven’t used in years. Plus this is a great way to declutter and reassess what you really need to live a comfortable lifestyle.
A couple days late and a few bucks short, but I wanted to share the serenity prayer with you, as it has been my mantra since Sunday. It helps to remind me that what’s done is done — but *you aren’t!
What habits do you have that are sabotaging your debt free success?
For a long time mine was “just looking” at the garden center and spending money on plants that I didn’t need, like, at all.
Share yours in the comments.
Our Mission is to help families from every stage of life with products and policies to protect yourself and your loved ones and enrich their lives. We offer competitive products from our top producers. Such as term and index universal permanent life Insurance to help protect yourself and those you love. Additionally we can help you prepare for your retirement with a variety of annuity and FFIUL products that can enhance you and your loved ones lives now and in the future. .
#wfg #helpingfamilies #financial #protection #retirement #livingbenefits #family #future #emergencyfund
We barely finished baby step 1 and our windshield got a huge crack in it - not one of those tiny, can-be-fixed cracks, but a massive, growing-everyday crack. I know this is what the emergency fund is for, but I didn’t want to have to use it this quickly! However, a few months ago this would have sent us into a little tailspin and now it is only an inconvenience. And due to some side-hustling, our emergency fund is already almost full again. We got through our first little hiccup and we are still rocking our #debtfreejourney
🙌🏻 #frugalliving #debtfreeby30 #debtfreeliving #debtfreecommunity #emergencyfund #murphy
Showing my face on here again to welcome my new followers 😍👋🏻 I’m Lauren and despite a new boo and my 2 kitties supporting me on this journey, I’m knocking this debt out all by myself! 💁🏻♀️👊🏼 This month I plan to knock out my smallest student loan ($2,451) and I’m glad you joined along to see it happen! 🤗
Hey guys, me and my 3 year old are moving to Kentucky and we came up short on money. We are leaving cali because I can't afford it as a single mom. Trying to get out there to be with family and have that support network. Please help us with any little donation. We really appreciate anything. I know times are hard for everyone right now. I start work the very next week, so its just the bit of money to get settled we need. I appreciate it so very much. Here is the link https://www.gofundme.com/e2zes-moving-money
Inspired by a post from @treading_a_simple_path
, I’d like to share some of my strategies for dealing with digital clutter. This was one of the hardest areas for me to minimise but once I got some processes in place it has been easy to keep up.
⚡️I delete text message chains. As soon as something has been actioned or I’ve received confirmation of a message I delete it... except my husband’s 😆
⚡️I go through the photos on my phone at least every two days. I transfer what I want to keep to google drive for back up to hard drive. I don’t keep photos on my phone (except stuff for insta and ultrasound pics of baby 😍). I have a folder on google drive with my favourite sentimental photos in it (around 60). The rest are backed up on hard drive.
⚡️I delete emails as soon as they are actioned and send important ones to one of four folders: receipts, travel, important, work. I go through the folders regularly to delete emails I no longer need.
⚡️I regularly go through folders on my laptop to delete or back up unnecessary items. I make sure to delete downloads and empty the trash.
⚡️I keep a completely empty desktop, unless something needs to be actioned immediately after which I delete it.
⚡️When I first started out I had to go through our hard drive to reorganise folders and delete photos. This was a BIG job, but once it was done I never had to do it again.
⚡️I delete reminders on the app rather than checking them off.
⚡️I regularly go through contacts on my phone to delete the ones I no longer need.
I hope these strategies are helpful to you.
So I just got totally murphied again, 3rd car problem in 2 weeks! After working all day at my main job, then going to my first day’s training at my new side hustle, I got in my car to go home, turned the key and it went boom! Totally dead. Loud bang and fluid leaking from the engine. My battery exploded! So waited an hour and a half for a mechanic, he’s given me a second hand battery to get me home and now I need to buy a new battery tomorrow. I’m not going to make any debt payment with August’s pay check as I have my MOT and a £300 car repair already booked in and now this! Absolutely shattered and feeling so broke! The only positive is that only 6 months ago this would have all gone on a credit card, and now I have my emergency fund for the first time in my life to cover this crap!!! Feeling blessed to have discovered this way of life which has made this so much less painful already! #emergencyfund #murphy #debtfreecommunity #debtfreecommunityuk
I think it’s super important to have some form of Emergency fund and our bank accounts have been looking pretty miserable since we finished building our house. I’ve actually been super stressed too and it’s because we currently only have $200 saved. 😳 So completely unprepared if we have anything go wrong. I’ve set a starting goal of $1,000 Emergency fund as per baby step 1 from Dave Ramsey. I’d ideally like to have at least $5k in there at all times so once we’ve hit $1,000 and cash flowed a few other events coming up then we’ll work on throwing more at it. We’re using a mix of Dave and also the barefoot investor, basically taking snippets from each and applying them to our life. This way we’re using the best options for our situation. To get to $1k I’ve set up an automatic payment of $50 a week. It isn’t much but hopefully it will add up quickly and once our other events have been paid for I can throw more at this account. This is also the account I got the bank to hide the other day so I can’t touch it 🙈 I there’s any left over money in my other accounts by my next pay I’m gonna transfer it over and build my balance! #debtfreecommunity #babysteps #babystep1 #emergencyfund #barefootinvestor #goingbarefoot #debtfreecommunitynz #debtfreenz
A local company has hidden $2,000 in cash in our downtown area & they are conducting a scavenger hunt to find it. Guess who’s putting on their sneakers?! Free money? I’m here for it! 👟 👟 💰 💰