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You Can Save More for Retirement in 2019

**You Can Save More for Retirement in 2019**



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all right VIPs this episode is jam-packed I'm gonna give you the ins and outs on the word focus I'm also talking to Mindy she just got to baby step number four and she's trying to figure out should she keep investing or pay off her son's student loan debt mm-hmm and guess what the 401 K and 403 B just got a raise I'm gonna tell you the new amounts you can put back for your dreams I'm wide awake higher I've wanted to spend time with my family we're just shy of two million dollars now in the awaken CHD dreams really clear right there welcome to the Chris Hogan show home of everyday millionaires I am your host Chris Hogan this is your show where your life and your money takes center stage it's your life VIPs take charge well I'm excited to be back with you VIPs we've had a lot going on we got a lot of callers a lot of questions but I need to hear from you so if you've got a question or you want to share a success story or a win call and leave me a voicemail the number to call is eight four four two eight three nine three eight three again the number to call is eight four four two eight three nine three eight three or you can also email me the email address has asked at Chris Hogan 360 dot-com we've had incredible questions you all are on the ball and plugged in and I absolutely love it so keep letting us hear from you you're the reason why we are here all right I'm going to the phones because that's what we do I've got Justin calling in from Jefferson Georgia Justin how are you I'm doing good oh I'm focused and not finished my friend how can I help you today well I actually have a success story and then a question if I can do that absolutely about well say in the beginning of September I sold my house and with the profits that I made four minutes paid off all my debt and everything like that and kept ten thousand in the bank Justin I'm proud and I am proud of you man so tell me this that's not the good part well let's just say I wasn't living Dave Ramsey in current fashion so oh we thought well we'll be in a good spot into my ten thousand with my dipping in the savings habits went down to eight thousand really quick and so and me and my wife were actually having being at the truck dealership together buy me a truck because I wanted the truck and so for some reason that week I started listening to Chris Hogan and Dave Ramsey on Park and decided to meet with a smart smart rester pros that one up and within five minutes of going on the website Daren with capital choice called me and set up a meeting came to my house two days later and when I actually thought about stop listening to your show and stop the meeting until the next week so I could go get my truck he was gonna I mean he's gonna talk me out of the truck Justin you were trying to silence my voice in your head he met with us for three hours Wow just poured into it and I'm thinking and I had no idea about smartest phrase no idea about what it called some honest cover you catch one my hat to pay this guy and you know he never talked about a call he said yeah if you invest this is how much you know the company percentage-wise knows never forced me he's like what we need to do is get you on the budget get you get your emergency fund built up and things like that and so ever since that night my wife you see the nerd and I was the free spirit by far but since that night we kind of changed home and I'm 100% nerd nerd it out home that's my budget I look at it 10 times a day I you know I've listened I haven't listened to music in four weeks of just listen the podcast with you Dave and you can call me right and I'm just going home and if it goes to my plan that I figured out which is this is shocking the crap of my wife the case she's like what her young ones you don't know because she's getting mad at me because I'm like no you can't bother you all the sudden does the money nerd right right which is which is you know Chris I can't tell you how much it's helped me even my rush of when my wife's because you know as husbands we try to gain that trust with her wife into it you know first time in a while she told me the other day she's like yeah it helped me to trust you a whole lot more while in the past you won't trust what's wrong and because I blew everything and so you know if if I if I have fallen everything right and we don't make more or make less we should be able to have a fully funded or at three months of the expenses emergency fund by the end of the year that is very common and then hopefully by the before I'm 40 have a house and have it paid off that's fantastic I'm going home and I'm my question for you is of course I've been running my financial advisor ragged he's probably tired of hearing from me but uh you know I'm ready to get ready to investing my question is I know you may say three or six months of expenses is it better than to get three and then graduate build up to six or what we want to do is to move into a house when we're renting right now well then I want to tell how when we're trying to save 10 to 20 percent down so would it be better to get three months of expenses and then start going down home saving up for a house and their investor do I invest in between okay I'll save up for six months instead of three I guess I guess I'm trying to figure out what's the quickest path and what's going to make it at compound interest yeah no I hear you brother and I'm proud of you I tell you the focus you have and what you've been doing proves this it matters to you and I love hearing that in your voice and I love the actions that you've taken I'm proud of you so here's the deal people ask all the time about how much do I need to have in an emergency fund so Justin the bottom line is you want to be focused and understand that I need this money tucked to the side so if life happens on there so you want to be very very aware so dual income both of you working you've got money coming in you'd be fine with the stable job have in three months however if your self and loyd or your seasonal or your a commission salesperson that's where I'm gonna tell you to go for more than like six months because what you're gonna have when you're commissioned or self-employed you're gonna have those peaks and valleys that happen with your income so you can level it off by having six months I love that you all are talking you're in communication and you're working together now you don't need to look at the budget ten times in a day okay I'm gonna tell you just just just just the tip it might be a little obsessive let's cut it down to five and you'll be fine but you know where it's happening and I like that you're telling money where to go instead of wondering where it went VIPs if you're listening out there here's the deal all you have to do is make a decision all you have to do is decide just like Justin to be able to be in control and know hey this is what's going on it doesn't mean you can't have fun we're just doing it intentionally right we don't want to live for the day we want to live in the day and we're preparing for our dreams Justin thank you so much for taking the time to call in I'm telling you right now you have motivated a lot of listeners out there other people right now are making decisions Justin based on what you did so great job and thank you for sharing well VIPs you know one of my favorite parts that DW and I came up with here recently was the whole panicked and pumped we were getting emails in from people kind of describing their situation so what I'm about to do is turn into coach Hogan and I'm gonna read these emails and we're gonna talk to people first up I've got a panicked email and this is coming in from Greta Greta says I'm 63 my husband 64 and we're far from retirement status we still owe a hundred and thirty-four thousand on our home so we're thinking of selling and downsizing we started meeting with one of the investment professionals and put 15,000 toward gross stock mutual funds we only make 80 thousand we're hoping to sell some land worth almost forty thousand I have a 401 K a fifteen thousand we started the Roth IRAs but not much so far my husband is about to go on Medicare and I have a big decision to make it work about medical options I'm healthy with no chronic illness I'm very overwhelmed and have made too many bad visions I don't have time to keep making mistakes so I wanted to know your opinion about which plan I should go with at work is it the standard medical plan or HSA okay well Greta first of all thank you for sharing with me and the VIPs about the panic that you're feeling you're feeling pressure you're feeling the anxiety of not being exactly where does you want to be the good thing is is that you're not done yet and I like that you've started to take some steps in the direction that you want to go remember our actions have to meet our dreams and when that connects like that with work and sacrifice that's where you can make some things happen now I like the fact that you and your husband you guys are talking about this and you and you're making some changes you've got some land that's worth about forty thousand that you're looking to sell that money can also go to your dream but is regard to your the health plan about what you should go with I'm gonna tell you looking at your scenario with no chronic illness and the amount of time you've still you've said you're going to be working you've got things you need to do that that standard medical plan is the thing that I would look at I'm gonna compare the deductibles I'm gonna compare the monthly costs right and really understand the overall coverage how does it relate for you as an individual how does it relate for you and your husband and so running those numbers to see and really understand that is the way to go now if you've got questions on it because a lot of those forms can have a whole lot of medical terms and a whole lot of twists and turns reach out to one of the insurance II LPS who can walk through it with you but I think that standard medical plan is going to be the plan that's going to give you the most kind of understanding and the most coverage overall for you in your situation so take a deep breath Greta understand where you are is not where you want to be but you're not done yet so let's keep taking steps and when the negative thoughts pop in when you start to feel overwhelmed again I want you to just say out loud I'm not finished right just say that out loud and then I want you to find a Bible verse if you have one that comforts you or find some kind of quote that you can go to quickly and remove that negative thought because negatives love to hang on they're always lurking around the corner Greta ready to jump on you when you're happy when things are going well so just find something to remind you that yes you are making progress you're moving forward you're not going backward I hope that helps you with where you are keep taking steps be careful of what you tell yourself rather because we are the person we have to be the masters of our domain and our mental space is really important so guarded tell yourself positives and keep going forward girl I'm proud of you all right next up I've got a pumped email in from Patrick Patrick says in 2016 I got tired of over drawing my bank accounts I started watching you all on YouTube I started my first budget and eventually began to write cheques without borrowing money from my dad I paid off my last student loan in 2016 saved up six months of expenses then decided to pay off the house I hit baby step 7 before turning 35 I'm currently investing 20% into retirement and I'm just shy of 15,000 in retirement and savings and growing I was able to send a check to a relative going through a cancer scare and now I'm donating money for a friend going to Bulgaria to donate winter socks it's an amazing feeling knowing that I can make a difference because of a decision I made over two years ago Patrick I am pumped for you to I mean to think about the the progress that you made you started you woke up over drawing at the bank you realize those fees and things that they charge you that's money there they're making money off of you making money off of your mistakes but you got plugged in and you got some information and more importantly you made a decision and I am proud of you for the progress that you're making I mean you're focused you've got a fully funded emergency fund you're investing and you and you're focused on paying off the house and did it and you hit baby step seven prior to age 35 that's fantastic and then my friend Patrick you're doing the best thing you can do with money and that's giving it away being able to help friends or family in need and able to support some charities and you're right this difference is because of a decision you made two years ago vips if you're hearing Patrick what happened is as he made a change he knew better was available he got the information and then he keeps doing it this is where you can be as well regardless of where you are in regardless of where you start off you've got an opportunity Patrick I'm proud of you listen VIPs if you're out there and you're panicked or you're pumped I want you to send me an email the email address is asked at chris hogan 360 dot-com just put panicked or pumped in the subject line and we hopefully will get you here on the air would love to hear from you alright VIPs I want you all to know we're just a few weeks out from Christmas and I want to put a bug in the air I wanna let you know something because I'm excited as you know I'm passionate about spreading the message that anyone in this country can become a millionaire well guess what on January 7th that's less than a month from now my new book everyday millionaire so will be available to the public that's right you've heard me talking about it and guess what it's finally here and to celebrate the launch guess what I'm doing I'm gonna hit the road in the month of January I'm headed out on book tour and we're going everywhere we're going from New York to LA Chicago to Seattle and I want to meet you I want to hear your stories I want to hear about your struggles and I want to hear about your successes so to find a list of dates and cities just go to chris hogan 360 dot-com slash events let me repeat that go to chris hogan 360 calm slash events and we'll even have some giveaways at each location did you hear that we're celebrating the american dream people it's alive and it's well so seriously i don't want you to miss this and i'd love to see you so again go to chris hogan 360 calm slash events i would be honored to see you and meet you out on book tour it's so exciting you all to be able to get out and to meet people we'll be doing book signings in bookstores they'll have the information online I'll be doing local media taking questions and really walking through this whole everyday millionare movement so would love to see you and would love to meet you well you all know me I love thinking right I love thinking about where we are versus where we want to go and I'm not just somebody that comes on talking to you all this is something I'm really a student of but I want you to do me a favor for those of you that are right now if you're listening to it and you're at work or you're relaxing right now you got a pen and paper right there I want you to write down this word focus F Oh see us okay write down the word focus now for those of you that are driving right now or you're on a treadmill listen to me don't stop keep your hands on the wheel keep your eyes on the treadmill keep doing what you're doing you can go back and listen to this later but the word I want to talk to you about is focus and and here's what I mean by this I love acronyms you won't know me but with focus it stands for this follow a plan overcome obstacles coach ability understand what's at stake and see the goals focus so let me break it down for you when I say focus the F stands for follow a plan I think in anything we want to do or achieve in life we got to have a plan got to have a recipe we got to know what it is we're trying to accomplish and the steps to be able to get there so I want you to develop a plan and be able to follow it the o is for overcome obstacles I firmly believe that things pop up just to see if we're serious about what it is we said we want to do you see when an obstacle comes we have to make a decision do I go over it under it or through it or do I just stop and I think a lot of people typically stop when things get a little tough when you get an obstacle that pops up in your way but for those that are focused and committed they don't stop they refuse to be denied so I want you mentally to prepare for obstacles but also expect to be able to overcome them because you can the c is for coach ability I want you to constantly be a student I want you to constantly be learning hearing new information gaining new perspectives talking to people getting people around you that believe in you that can cheer you on and guide you I think the more information we get the better advantage we have for dealing with whatever comes in our way the U is for understand what's at stake I think when we understand that our dreams our goals are all the things that we desire are at the end of the trail of hard work and when we work hard and we stay focused nobody can deny us that nobody can keep us from what it is we're wanting to accomplish but we have to have that internal motivation don't wait to get motivated by external don't wait on something else to get you hyped up or excited for a little bit I want that motivation to come from inside you because you know what it is you're chasing and more importantly you know why it matters so much to you and the S is see the goals I want you to see yourself crossing the finish line I want you to expect to win you K I'm surprised people tell me all the time you know they hope it works out or they hope to win I'm wired a little different I expect to win you know why I expect to put in the work I expect to stay motivated I expect to overcome obstacles so yes I have this expectation of wanting to win and I expect it and so when it's it gets personal to you because you know what it is you're trying to accomplish but kind of tell you in a little something else VIPs you also know who stands to gain if you got little people running around your house or you got people that are counting on you that you don't want to let down that you want to make sure you're providing and doing what's necessary for them it helps put things in perspective it helps you to understand what it is and why it matters so much so that did you know is focus fo you see us focus and follow that acronym I think you can follow that in any phase of your life and it can help you move forward and also to be able to make improvements anywhere and everywhere alright VIPs you know I need to hear from you if you've got a question or you want to share a win call me and leave a voicemail the number to call us eight four four two eight three nine three eight three again that number is eight four four two eight three nine three eight three and you can also email me if you prefer the email addresses asked at Chris Hogan 360 dot-com all right I got to get back to the phones but I got a I got Michael here in Bentonville Arkansas Michael how are you I'm doing great Chris are you all brother I am focused and not finished how can I help you today yeah my wife and I are trying to decide how long we should stay in baby step three B before moving on to step four okay we've got about a five-year window before we can comfortably purchase a home professionally there's a chance I could get moved around in the next five years so we're really trying to save up a huge downpayment and and then I'm also wondering since we do have that five-year period would it be wise to invest our downpayment and a conservative mutual fund so since we have a little bit of a longer window there okay now you tell me you're trying to save up a huge downpayment when you say huge Michael how much are you talking about man 20% you know we've got 2,000 today I'd love to get 40 to 50,000 dollars over the next five years okay there's our income we feel like that's reasonable okay and tell me this in the job that you're what kind of job do you have will you relocate every five years yes I'm actually a pastor at a church that's opening some new locations so we could get moved around okay because of that okay and would it be a movie of every five years or would you have an opportunity to sit still for a little while so we definitely have an opportunity to sit still we're a little more younger right now we're both in our 20s so the the moving should slow down over the next five years okay and where you do you know where you're considering being relocated to Northwest Arkansas right now and there's not sure what the pker looks like okay okay well you're right I mean and especially in the ministry there are all kinds of options and opportunities in different places the main goal is that you and your wife stay in control so I I want you at minimum to have 10% and I like the fact that you're going in with 20% because that's going to help you avoid PMI private mortgage insurance okay have you heard of that yes okay cuz yeah for the VIPs that hadn't heard of that private mortgage insurance protects the bank it doesn't protect you as an individual so I can add a hundred fifty to three hundred dollars a month to your payment so Michael you guys are wise to be able to stay focused on saving I think that is a smart idea but thinking about where you may move to I think it's a good goal to have a set dollar amount you mentioned forty or fifty thousand you know the opportunity to be able to have that as a goal whether you all are taking on extra jobs or being intentional I think you and your wife talking together to come up with a dollar amount that's a goal and the sooner you all get there like you said then you can move forward into the investing so that's what I would do you and your wife talk and again doesn't matter where you're moving to you know exact exactly how much money you're gonna have and what you're looking to spend that's the key Michael it's staying in control of what you're doing and where how much you're gonna spend so stay focused on that keep saving it up let that money you all as you have your budget meeting once a month look at the dollar amount talk to each other about the balance find some things to do to help that go faster and it'll help keep you guys on track and you'll be motivated about what you're doing next as you move forward in life so thank you again Michael for your call I appreciate that all right back to the phones I've got Mindy on the line in Virginia Mindy how are you thank you for taking my call today yes ma'am it's an honor to speak with you well I'm calling because my husband and I then get free for about a year and went on baby step four but a few months ago we had to bring bring our son home from college for medical reasons and we decided to take over his debt which is mostly student loans my question is should we temporarily stop our investments and our individual retirement plans to throw everything we have at is debt to get it paid off in about four to six months okay well let me back up a second until you congratulations on being debt-free and being on baby step four that's a great job how much did how much debt did you guys pay off we paid off approximately 45,000 we did sell a house I'm in the military so we had had it listed you know or rented out for a while so we felt that from that help yeah but we got pretty aggressive yes you do attacking at all yeah that forty five thousand you paid off what was that was it critical doors it was credit card of consolidation Jacques oh yeah junk is about right Mindy that's what you call that but I like that you guys got focused and got it intentional and thank you for your service as well yeah and so your son it was in college had a medical emergency you brought him home the student loan debt how much student loan debt does he have he has approximately 25,000 and do this situation I mean I don't I don't have a problem telling you about it basically my son's and treatment for alcohol addiction disorder yes he's a 21 year old alcoholic and with the addiction he probably has an underlying mental health disorder they you know that they're trying to treat as well so we really don't know when he's going to be able to support himself again and then we hope that he'll go back to school but without student loans and we don't want to send him back or out back in life with all these obstacles if we can help okay well I love the fact that you guys are being there to support him and my prayers go out to him for him to get healthy so what year in school was he here it was a senior this 25,000 and student loan debt was that for this year or prior years it was last year he used the first ten years he used my Montgomery GI Bill and we kept telling him that no we didn't have the money set aside no I just says we paid off we didn't have some money put back for college fund when we gave him many many months of warning you know you're going to have to get out there and do like you've said on the show about scholarships and applying for grants and things and well here's the reality I mean with you and your husband how much do you all have save for retirement we're right at about a hundred grand now my husband was always doing really good with contributing to a 401k I always kind of went banking on my 20-year pension when I retired but after we got it through the debt and then we read your book and started you know we used her tool and figured out that we were you know on transit man we if we just put a little bit away and I started investing in life in my PSP and we could really just kick it up a notch so I jumped up to 20% and he jumped his up to 15% so right well and that's not gonna be an accident because you guys are focused on you're clued into it you know the the good thing is is that your son was a senior and so really looking at this and understanding the opportunity for him to you know once he gets healthy to get plugged back in to Community College you know being able to work during the day go to school at night or whatever it is the options are but as far as you guys taken on the student loan debt no not at all no you know for him getting healthy and understanding the reality of what do you have to do when you're an adult and let's take care of your responsibilities and and so you know but here's what I don't want Mindy I'm so glad you called in on this because as parents you all are doing a great job supporting him in his time of need but you know what I don't want I don't want you guys to get in the habit of trying to take care of it for him that he never learns to be an adult does that make sense he life's gonna knock us down but what we got to have is a good support network but eventually we got to stand up but you know what else I don't want Mindy I don't want you and your husband becoming a burden to him later in life you see when people don't have enough for retirement that's exactly what can end up happening your children or family end up having to take care of you and so no that's not what you want so I tell people all the time they tell me on airplanes I travel more than anybody in this building you know what they tell me on the flight be sure to put on your oxygen mask first before you try to assist others you know why because without your own oxygen mask you're not able to help so I want you to make sure you're securing your financial future taking care of your retirement and put yourself in a position to be able to help or to support people if need be but know you don't need to take that on it doesn't need to be something that you make your responsibility you can be there to support but you don't want a hamper and so I'll be praying for your son to get better and you and your husband stay focused on what you guys are doing as you're working this plan in this process in unison well VIPs do you know your net worth there's a lot of confusion out there around this idea of what net worth means so let me make it simple net worth means it's what you own minus what you owe okay now those two words sound familiar so let me say it again net worth is what you own minus what you owe so the first step to becoming an everyday millionaire is knowing where you stand right now here today so I want to help I've got a new tool let's call the net worth calculator it's only six questions takes you less than five minutes and you're gonna get practical advice on how to help you to become an everyday millionaire so seriously it takes less time than going through some of these drive throughs out there so get started now check out the net worth calculator at chris hogan 360 com slash net worth or you can text the word Hogan H o GA n to three three seven eight nine I want you to discover where you stand learn your next steps to become an everyday millionaire so be sure to check out the net worth calculator today well I was doing research and I wanted to make you all aware of some some new information the title of the article is how much will you be able to save for retirement in 2019 this is coming from the Washington Post and it was talking about essentially where we stand the IRS just announced their cost-of-living adjustments that affect workplace retirement plans and it's important for you to know the maximum amount you're able to contribute but also catch-up contributions along with IRA rules so you can properly plan for the year now you know when your own baby steps four through seven right this is where you've attacked debt right with baby step number two you've built up an emergency time emergency phone with baby step number three and now you start to move into baby steps four through six this is where you start doing things all together investing really attack in the house and and then and moving forward for your dreams well I want people to be able to save and so you have to be able to take advantage of these retirement accounts that's offered through your employer as well as other individual retirement accounts it's a great way for you to be able to grow your money I've told you all timing compounds in compound interest got tongue-tied time and compound interests are the best ways to grow money so you need to know a few of these updates so I want to tell you for the year of 2019 the threshold for workers who contribute to employer sponsored 401 KS 403 bees and 457 s the and as well as the federal government Thrift Savings Plan will be increased from eighteen thousand five hundred dollars check this out you got a little bump here is being increased to nineteen thousand dollars so we can contribute more okay the limit has been increased now let's say you're behind alright and you're over the age of fifty you all have heard me talk about catch-up provisions this allows people over the age of 50 to be able to do a little bit more well listen to this the catch-up contribution limit for people that are 50 and over who participate in 401 KS for three B's 457 s as well as the federal government thrift savings plan also known as the TSP that will remain at six thousand dollars so you can do the six thousand over and above now the nineteen thousand it gives you an extra opportunity to put some money away if you're behind the yearly limit for IRA contributions will also get a boost so it's getting a $500 boost from 5502 6593 print that out be aware of it talk with your spouse if you're married and make sure you're talking to your investment professional you're smart vest or pro so you're getting prepared to know what extra you can do for the upcoming year so it's a great opportunity to stay informed and as I see things like this I want to make you all aware again the title of the article is how much you will you be able to save for retirement in 2019 and we got this from the Washington Post so again well I got to be aware we want to stay plugged in and clued in to what's going on and what we can do to help ourselves well VIPs I want to hear from you if you've got a question or want to share a win call us call me and leave me a voicemail the number to call is eight four four two eight three nine three eight three again the number is eight four four two eight three nine three eight three and you can also send me an email if you'd like the email addresses asked at Chris Hogan 360 dot-com all right I'm going back to the phones let's see here I've got Debbie here on the line Debbie how can I help you hi Chris I think so taking my calls Oh welcome and 1:59 single and getting close to retirement stand among steps four and six okay and so my question is right now I'm currently paying six hundred extra on my home okay and say then five hundred a month in four five seven accounts and so I didn't know if I should continue on that to the next two to three years or if I should maybe not pay as much on my home and put that more into my four five seven accounts okay gotcha Debbie tell me this how much do you have saved for retirement right now I have two hundred and eighty one thousand and the four five seven and thirty thousand in an IRA which I also wondered if I should take that out now that I'm past fifty nine and a half and put that put and set aside tax money and then put that on the house as well okay gotcha gotcha so looking at this your your house that you're in right now how long have you been in it eight years is this the house you plan to stay in yeah okay so this is the house okay good and do you know how much you owe on the house 177 thousand okay 177 and what is your household income okay so I like the idea that you're paying extra on the house okay I really do because a couple of reasons number one you said this is the house you like it you plan to be there do you know how much offhand how much your mortgage payment is I'm paying eighteen hundred a month okay and that's including the extra six hundred yes okay okay you know 24 I'm sorry 2,400 okay gotcha so the payments eighteen hundred with the extra six under you're paying is 24 right okay so imagine this though Debbie imagine that eighteen hundred not having to leave you no you know I mean can you imagine that that money you're not writing it to the bank or mortgage company anymore that's gonna stay in Debbie's account and see the value of that especially as you move toward retirement that's the focus and that's the goal you want to be able to keep your money with you not sending a bunch of it out to other people so I like that you're paying on the house I like that you're paying extra and I think I want to keep you on track now I would tell you this the money you have in the IRA I want you to talk to a smart investor pro I don't like you pulling this out just yet okay because right now you have two hundred eighty one thousand put aside for retirement but if we look at this you it puts you you know at the tweet 320 range when you look at your your 457 as well as the money you have in the IRA so again this money was designated for retirement so the pulling it out and and and taking the penalties and paying the taxes on it no reason to do that let's let that keep growing and run the numbers and look at what that could look like for you so mindset is beyond defense to Daddy not only are you investing for your future but we have to be aware this is where we don't want to bring any more payments into your life we're trying to get payments out of your life so keep on attacking that keep attacking that house keep investing for your financial future and it's a good thing you know you have an opportunity all right so I want to talk to you all I've got an incredible group if you want to join a community of other future millionaires I want you to head over to my facebook page go to facebook.com slash Chris Hogan 360 and click on the group section and join Hogan's everyday millionaires I'm actually gonna take a quick question from this group right now Tony asks from the Facebook group I'm asking the group's opinion on college funding how much do you fund before associate's degree a bachelor's a masters or doctorate well Tony you know looking at this that's gonna vary I'm a big believer in in-state schools I feel like you can get a quality education at a state school especially as you start to talk about the associate's degree as well as bachelors looking at it in state those anywhere for between nine and ten thousand dollars some states are cheaper some are a little bit more expensive but that's an opportunity and so as you're walking through this and understanding what the educational savings account that ESA as well as the 529 the options you have to be able to put money aside you know I think that the bottom line is is you've got to be on a budget and be consistent now also with those remember you've got an opportunity to be able to invest that money to also get some growth so if your kids are younger using an educational savings account even if you're putting one to two to three hundred dollars a month away that's great but what if your kids are older a lot of people tell me Chris my kids are older I'm on baby step two or I'm a baby step three I don't have that money put aside there's an opportunity for them to be able to get a higher education they just may need to look at Community College going in and knocking out their prerequisites take the history take the foreign language take the math for one to two to three hundred dollars a class as opposed to a two thousand dollar credit hour course we have options now there are also scholarships and grants that are available but young people as well as parents gonna have to put in the time filling out the paperwork the money is out there and it's available we just have to put in the effort so that's associate's degree in bachelors you start to get into master's degree and doctorates now you're starting to run into some money now I don't know about you I'm firm believer if parents want to help the young people go to school and get their undergraduate degree great if somebody's pursuing a masters or a doctorate this is something they need to be looking at right they need to understand what is that and even if you have to pay per class had a few people that I was in grad school with that they paid they saved up money and paid for a semester sometimes they had to take a semester off to go work some more and save up more money I'd rather it take you longer to get the degree and get it without debt than to take on a bunch of student loans so you're gonna the the costs are gonna graduate substantially with the master's degree and doctorate so you got to go into it with your eyes wide open and does it make sense is getting that advanced degree gonna help you move forward in your job and in your career so run the numbers be very aware and let's make smart decisions there nothing wrong with taking a couple classes right as you work full-time at night or even online as an option but be aware and again there's no law out there that says that parents have to pay for their kids education that's just not there parents are able to support they can guide the young people by giving them the right kinds of information so they can make wise decisions because young people have to do their part as well they got to have the grades they need to get this test scores with the SAT the AC T and be able to do their job oh and VIPs by the way real quick come talking about the SAT and AC T these are the tests you have to take to be able to get into college or to go to a college out of state be aware that that test can be retaken right if your young person took it and they didn't get as good of a score as they want or a good as of scores you think they could do you can retake that there's not a limit on that and how a friend of mine had his college aged person retake the test their test score jumped 12 points okay 12 points which then made them eligible for some scholarships did you hear that scholarships it's an opportunity so I wanted to let people know that just so we can be aware well listen I want to thank all of you thank all the callers my everyday millionaire Facebook group my phone screen of Amanda Bobby my tech guru and of course DW producer so until next time VIPs remember don't make excuses make progress

2019 BUDGET PLANNER SETUP | Erin Condren Monthly Deluxe Planner

**2019 BUDGET PLANNER SETUP | Erin Condren Monthly Deluxe Planner**



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It’s the most wonderful time of the year! I love a fresh start, and budget planning is no exception. I’m sharing my 2019 set-up for how I manage all of our family finances in my Erin Condren Monthly Deluxe Planner.

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VIDEOS MENTIONED
2018 Budget Planner Set-Up

Sinking Funds
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Part 2:

Our Cash Envelope System

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Thank you for watching!
hey everybody its Jen from Jen plans and I am setting up my new 2019 Erin Condren deluxe monthly planner to manage all of our family finances for 2019 I have my old one up here this is the 2018 the one that I'm currently in and I have two separate videos if you want a more thorough look at this planner and its features without all the budget stuff I've linked to that video below as well I don't want to spend a lot of time today walking through the features of this one I have a separate video for that if you want to watch it and then I also have the setup for that old one linked as well so this is everything I'm using today I have the deluxe monthly planner of course you can use any stick you know it's linked to these these are just cute sticky notes also from Erin Condren and then I have a little bit of washi tape I have some stickers and these are really these are the specific ones that you know these are more decorative and functional these I use for the sinking funds chart which I'll get into in just a minute so I'll link this one as well these are the transparent dots by christian designs and i customized the like you can order it and I think she has like like five colors maybe on the standard sheets but you can select a custom option and I just asked for a different color in every row so that's one way that you can customize it and then this is just personal preference but in the beginning of the year at a glance I don't you know I'm using it January through December so I don't need this part so I cover it up so I just took this is sticker paper that I cut to size before I started filming just to make it easy and you know I mean if you don't have sticker paper don't go up you don't have to go on by sticker paper if you want to do this just take regular paper and you can use a glue stick or tape or whatever and just cover the part that you don't need so those are those are kind of the main players and I'm just gonna walk through my setup I I use I use this planner to manage more than just our budget I kind of set out you know before I setup a planner for the year I don't just sit down and start throwing stuff in because I feel like then later I change my mind or I forgot to include something so I like to plan out everything that I want to put in the planner first and then kind of rearrange it a little and then put it in so I'm gonna walk you through first kind of how I'm gonna lay it out and then I'll know if you're gonna do it I'll probably speed it up so you don't have to watch a real time but this is the like I said this is the Erin Condren deluxe monthly planner I got all of that you have an option to add extra note pages I added all the extra notes pages and yes this is the same thick mohawk paper that is used in the life planners as well which I love it's nice and thick I'm just really nice paper so I I laid out this is kind of for the back notes section this is this is why I think most testing out some of the Washington this is why I love this planner because I need more than just a calendar and you know this is more than just keeping track of bills I also use this for goals and for you know tracking retirement stuff and income and tracking you know there's planning and tracking and so if you if you need a space to plan and track this is a great option at least it's what works best for me so yeah at the beginning of the planner the first section is the year at a glance and so this will be my kind of sinking funds overview I've also linked below I linked a lot of videos below I linked my sinking funds video that kind of types you of them videos that kind of explain the concept of sinking funds but basically for your expenses that don't occur monthly or don't necessarily occur monthly I plan ahead for those and I save a little bit every month in each of these categories so I'll show you my categories you can watch the other video if you want kind of a deeper dive into that but for example like we only pay our HOA quarterly so every month you know I take the quarterly payment I divided by three I know just I like marking and I say that every month and I like seeing when it's due just for cash purposes so I'll I'll show you when we lay that out this section I'm going to use for monthly events and costs and I'll incorporate it into the monthly sections as well but I like seeing it all in one place and so this section is for things that are not usually these are like one-time things that are coming up during the year so you know this is 2019 I know that in October I have a cousin getting married and I know that in August I have a friend getting married and of course that's gonna be travel and that's gonna be gift and that's gonna be stuff that's kind of a little bit outside of you know we have those categories but I want to know when they're coming up so I can make sure that I'm properly planning for them if you have stuff that you know is coming up it's a really good idea to just you know look where it is go backwards and see what you need to do so that you're prepared I don't want to be I've known about these weddings for awhile I don't want to be bamboozled you know cost wise when it comes to time you know when it comes time to you know spend the money on making sure that we can be there and that kind of stuff so so this is you know kind of one-time date specific things that will happen during this year and then because this monthly deluxe has additional pages now some people people had mixed feelings about the changes to this particular layout because the old one had one page here then the monthly then two pages and that was it but this one has an extra set of pages so I'm really excited so you went from three to five that's two whole extra pages a whole extra spread which to some people might not seem like much but I'm really excited about it and then they also took a lot of the structure away which for me I like making it work I like a little bit more flexibility so I was excited about that change so I'm gonna show you how I'm gonna set it up so my this first page I used to use this one before the month as a sinking funds kind of overview so I would put my sinking funds here and then I would put starting what I added that month what I took out that month and then ending and then I would carry that ending over to the next page and like I said it's all explained in my other videos if you would like to have more detail about how that works but I'm now gonna be using this page you know the first page of the month as a monthly overview so I'll have goals I'll have things that are due this month from that sinking funds page and also stuff from this page you know I like having kind of an overview here and then breaking it down by month so it'll be you know January goals for January and these are gonna be different every month like our you know as of right now our goal for January is gonna be you know we're really trying to hit to catch up with some retirement savings that we held off on while we finished paying off you know our last student loans so that's gonna be a big goal for us in January and you know keep in mind that financial goals don't always have to be a dollar amount like one of the other things we really want to work on this year is optimizing a lot of our expenses and car insurance you know for example is one of them our six month premium is due in January and so we have the money saved up but I'm trying to find ways to lower that cost for our family so that's another goal is you know working on car insurance cost so I like putting these things in here because I don't there's you can't for me anyway you know save money that's not for me a goal that makes a lot of sense I need like put this much money into here lower you know this sorry lower this expense by you know whatever so this is this page is gonna be the monthly overview goals things that are due this month and then I'll probably keep space open because sometimes halfway through the month I need to make changes like something you know we had a month last year where or this past year where something really big came up we had to pull from the emergency fund we had to halt a couple things and I like writing all that down so I can look back at the end of the year and see you know oh yeah that thing happened this month but you know this is what we did you know in the big picture so this is gonna become a monthly overview which I did not have in last year's planner I just didn't have enough space and I'm and I found myself using notes pages as kind of like a monthly like scratch page and I'm just I'm so excited to have that so I'm gonna use this page for a monthly overview this is just a quote page but don't be afraid to write on it you can put sticky notes on it you can just you know in my life planner I just write directly on it things that are specific to that month you can put quotes it doesn't even have to be functional you can decorate it with stickers if you want I'm not a highly decorative person but if you are that could be something you know that you could do the monthly I'm not gonna do a ton for the monthly set up right now because it really varies from month to month actually doesn't really vary a whole time from month to month but I use this to track monthly bills cash withdrawals from the ATM and then I use the sidebar to track our income because we are both self-employed and we have some like you know there we have like W to pay and then we have contractor pay and there's like you know bunch of stuff coming in so I keep track of it here it just makes it less complicated for me of course that wouldn't apply to you if you're not in that same situation so you know you could use this for a variety of things but that's what I like to use it for and then I map out when I pay all my bills so I if I know that you know all my you know half of my bills are doing the first and I pay them you know let's say a week before they're due to make sure everything clears in time I need to know that a bunch of money is coming out of my account you know around this time that's helpful for me planning out cash flow like when can I transfer money into sinking funds I can't do it in the beginning of the month because I need that money to pay for you know whatever it these bills so I use little stickers and I put you know mortgage cable and internet and so on and so forth so that's what I use the monthly layout for and then we have these four pages but this page of this page of this page in this page are all January and then this one turns over into February which will be another monthly overview but this one will be for the month of February so now these last four pages after the monthly layout I used to have on this page the sinking funds overview for the month so the annual is just gonna be dots for when things are due but this is going to be like all of my sinking fund categories exactly how much money I have in the account dedicated to those categories so it's not just on this list because these are just things that are date specific garbage is due every three months our past control is due annually or h:o as do quarterly our car insurance is due every six months these are things that have due dates and I know when they will occur but a lot of my sinking funds don't like you know home maintenance I don't know when our you know garbage disposals gonna go and I don't know what if our water heater is gonna die and all that other stuff or if our car is gonna break down so I also keep our full list of sinking funds with the amounts that we have dedicated to each fund on this page as kind of an overview which is what I had before it was just like I said on that page this page I'm gonna kind of recreate if you remember from the one last year if you are familiar with the one from last year there was a sidebar here with checkboxes they would like check circles I think and so I used that for monthly bills and then on this side at the top I did other monthly expenses like you know the cash that we take out for food and for entertainment and I would also keep track of how much gas like for the cars I don't take gas money out I just keep it in my account but I help for it in the beginning of the month so I have to make sure that's in there somewhere so it's not really a bill it's not a sinking fund but it's just a monthly you know it's still a cost so I have you know cash withdrawals here and other miscellaneous monthly expenses and then what I used to use this kind of middle section for because the monthly bills will go here which I will still section off I used to use this as a sinking funds tracker and so I would look in my account and see you know I went to the mechanic and I spent you know $200 on my car that needs to go somewhere so that at the end of the month I can go back to my sinking fund summary and note oh yeah I had $800 in my car repair fund I used 200 and now I only have 600 I like keeping track of all that is it a little bit of extra work yes every single time somebody watches this that's unfamiliar not every single time I need a 9% of it was my anecdotal observation not scientific but almost all the time somebody says there's not a lot of work and I always think yes but I mean it's not a lot of work especially once you ease to it but it is so much better than not the money are being disorganized and not you know having to worry about where the money's gonna come from I don't I don't worry for my car breaks down I know how much I have I know what it's gonna be I transfer it over and I write it down it's not a big deal and it takes all of 10 seconds and I just promise you that it's so I mean I don't want to try to have to convince everybody cuz everybody's doing their own thing but for me and for my family I sleep so much better at night putting the extra work in here instead of figuring out how to fix something that I wasn't prepared for when it's not that hard to be prepared for it so this is monthly bills and other expenses so other expenses up here monthly bills will be on this make a sidebar and then down here I'm just gonna I don't really know how I'm gonna fill in the space that I had for the sinking funds list because it was never enough I always had to put extra paper here a paper clip it in or put a sheet to log sinking funds tracking and so I would always write which is what I'll do on these two pages I'm gonna need a full two pages it'll be date category amount which is really similar to the budget planner if you have the Erin Condren budget planner it's a petite planner it's like about this big it fits in the folio I shoulda brought one over to show you but it's a great tool it's not as robust in terms of notes pages which is why I don't use it for budget planning because I use I have all this other stuff that I like to keep track of but it has an awesome sinking funds tracker and so what actually well I probably won't do this because I like having the extra room to spread out but I thought about cutting those pages out and in like using adhesive to put them in here but I like all that room but it's basically going to be modeled after those pages it will be date category and then the amount so I know like you know November 12 car maintenance $200 or you know another one of my sinking funds is clothing for my kids you know I spend on you know November 20th you know 50 bucks on kids clothing for matching family picture you know which I almost never do is the first year bought about like coordinating stuff so that would come out of here but I knew that I had the money so I didn't you know it's you feel a lot of freedom when you know that it's already set aside so this is the this is the spread that I will use to track all of those monthly little expenses that come out of sinking funds but I need to have them somewhere so this is where that will happen and I'm so excited because this one little section that I was using before just was not cutting it I need a full two-page spread so that's how I'm using all five of the pages monthly overview sinking funds summary monthly bills that I'll check off when I pay them and then I make sure you know that they're all accounted for here and then sinking funds tracking so that's gonna be repeated for every month throughout the rest of the year February and mine is a 12 month it just goes you know that the annual the calendar year then I let's see I don't think I use this a lot because they don't usually have a whole bunch of things that I know this far in advance but if I did actually that's not true because we have a couple weddings and I knew about but this is where I keep track of extra things that are coming up the following year and I just write them as a month that they're happening or if I know like somebody got engaged but I don't know when the wedding's gonna be it might be this year so I would put that in that section and then in the back it's just all the notes pages and so I like using I like using the notes pages for a variety of things that are all laid out here it's a combination of tracking like specific category tracking for example giving I keep track of how much we give in to where so that at the end of the year number one I can see and number two you know we use that to help with our taxes for our tax deductions so if this is more of a tracking category goals is obviously not I mean that's not really tracking and that's just you know I'm kind of using it as a work page that I will change throughout the year but we'll start with some goals and I'll be able to go back and how we're doing 2019 income our income varies every month and so I have a whole page that at the end of every month they track what our monthly income was so this is another tracking page inspiration I have in my other planner is just a whole bunch of quotes this is what it looks like this is my inspiration spray they're just a whole bunch of quotes that I looked up that I love that kind of help keep me on track and keep me motivated and so you know that's neither here nor there but that's not something you can put in you know an app and it's a little more than being able to put it in the in the more like basically a budget tracker so that's another reason I like having this so that's inspiration and then account information policy information for life and disability insurance things like that that I need to be able to reference do you need to rewrite this every year because some people are probably thinking well that's foolish to rewrite it every year it's just what I like doing of course you don't have to or you can photocopy and tape it I mean you don't have to rewrite it I obviously like writing things it helps me and it helps me just spend the time focusing on Finance stuff and I just enjoy doing it so so I rewrite it every year plus we've made some changes to some of our policies and so I like having it updated every year so that I can look back and see exactly what we had at any given time so I like having it all in one place so this is the first thing I do like I said in the beginning is I get everything out that I want to focus on in this back section and so what I didn't do yet but I want to do now is kind of organize them into like which order they will be in so I think what I'm gonna do is it'll be baby steps in the front I like having inspiration in the front this is all more like this is just informational and not really tracking home maintenance retirement giving kids college are all tracking in common goals are trekking but there they're different than specific you know than these categories in my mind and car mania s go here too the reason I keep track of car maintenance and home maintenance which seem like I guess you know why track those specific categories and not every category I just like looking back and seeing what we paid for each of these things so I total this up every year it's kind of arbitrary just know it's just what I like to track so so these are kind of sorry then I kind of put everything into these groups so this is what I want in the beginning this is still kind of you know planning and tracking but it's separate from the more specific categories and then this is just information I think what I'm gonna do is he'll do this first then I'll have the 2019 specific like big picture goals and income that's a big picture then I think I'm gonna have tracking so I don't have to dig all the way to the back to do that and then I'll do more specific tracking toward the back do baby steps here if you're just getting started with budgeting I love in my opinion Dave Ramsey is the best place to start if you don't know where to start once you're through like if you're debt-free and you have all you know you have your emergency fund and you're ready to invest there are a lot of other places that I like looking and going but if you're kind of in the trenches this is a great place to start so I keep it here this is where we started and I still like having it here and looking inspiration is gonna be more than one page so for that I want to do goals next and then right after goals we'll do in common my husband and I do goals together for the year so we'll sit down probably in the next couple of weeks and review everything in 2018 and see kind of you know what we set out to do what we did and then we'll create our goals for for 2019 and then of course tracking income this well this kind of goals with goals but I like keeping track here of things that we're doing not you know of course a list but also ideas and ways that we you know I'm constantly looking at ways to optimize their budget in ways that work best for our family and so I like you know is another thing that is really hard to do if you have like mint or every dollar or you need a budget which are all fantastic apps for tracking numbers you you know you can't really this is the kind of stuff that it's hard to plan I just like having everything all in one place so that's optimizing and then general account information will go here and I'll put our policy policy stuff here for life and disability insurance and then we'll start with categories so let's see do I'm gonna put these in kind of like do giving first then retirement comes next and kids college comes next if you're wondering because I'm putting this in order of our priority why we save for like we have three kids why would we save for retirement first because you put on your own mask before you help other people with theirs I don't want to be a burden to our kids I want to make sure that we are being aggressive with retirement savings and then we will help our kids with college that's a choice that we make it's not choice that everybody else makes we're going you know we're gonna do the best we can to help them if they decide to go to college then Romanians in and then the back will be kind of flex I have a lot of extra pages here I added the maximum amount because I'm just always thinking of things that I want to include in here and so I like the flexibility and then if I don't use it you know that's fine then I just don't use it so that's how everything will be set up in the budget planner I will I'm gonna start going through and putting in all of the stuff that I planned out so I hope you'll stick around if you want to watch so we're back to the beginning thank you if you stuck around and watched all of that I am going to just flip through now and show you everything that I prepped I only did I only did a full January I usually go through and I might put some stickers and washi tape down just to prep but but I only prepped for January for right now so I'm gonna walk you through what I did and I hope you like it so this is the sinking funds overview I entered in entered in I wrote down everything that we pay not monthly but set on a date and then I color-coordinated this is about the only thing in planning I ever color coordinate just because it's easy to see like oh shoot what is our HOA do oh it's March June September and December and I love doing this because if you look at some months like March is a lot of stuff – June a lot of stuff do you know I don't want to have to scramble to come up with all of these things at once if I'm not preparing so that's all set the whole year overview my mom has her last she's getting ready to retire and so we're gonna drive out of state to see the last concert that she's conducting so that's an April that's a big thing we'll have to plan for and then a couple of weddings in the fall late summer fall so that's there and then I'll just add to this as events keep popping up if you watched the time-lapse you may have noticed that I moved some stuff around sometimes when I'm planning I don't I feel like I didn't you know I didn't like the way that it was and so I changed it so I'm gonna do bowls up top things that are due this month and then I'm leaving this whole section down here for notes I was gonna put it up here but then I didn't want to be I don't know I feel weird like goals I'll do ahead of time do this month I'll do ahead of time but notes I might add throughout month and I don't want to be doing it in the middle so I moved this up to coordinate and then of course monthly bills there's really not much to prep there until we get closer to January and then I lay all the bills out and then this is my sinking funds overview so I have not filled in all the categories because although they usually don't change sometimes they change this is why I don't do this for the whole year and I change it month to month for example we got a dog a couple months ago so now I have a new category which is pet or dog or you know whatever you want to call it and so I add that to this list so it'll be the name of the category like Amazon Prime I have you know 80 dollars in the fund right now every month I add ten dollars and I'm not gonna take anything out of this particular category until it's due in its Amazon Prime to March and I end the month with $90 and then I'll carry that number over to the next month starting so this is like my overview of sinking funds this page I split like I said I'm gonna do a monthly bills on this side and I'll just do little checkboxes all the way down mortgage electric gas cable etc and then monthly expenses that are not bills like I'm not gonna write a check for the groceries but I do need to plan on that as part of the budget some groceries dining out fun money gas and entertainment go here and then I haven't figured out what I'm gonna do here yet so I'm gonna leave it open and then this is gonna be tracking out going sinking funds but just all the way through this date category amount and so what I usually write is like 11:15 old Navy and then in parentheses I write kids clothes and then $50 and then at the end of the month I look back and see okay how much should I spend on kids clothes and let's say there are like two places that I spent money I highlight that one highlight that one add them together and then fill in the total amount under you know I think kids clothes usually somewhere here I started with 150 dollars then I added you know another fifty dollars and I spent fifty dollars so now I ended up with and then the very last page oops that is the last page and then the next page is February so I didn't go through and do every month for Feb for every month for this setup but I did do just the the monthly overview and then if you switch all the way to back I added the d-branes baby steps these are all Erin Condren stickers I'll link everything in the description I haven't done inspiration yet that takes a while so I want to sit down and really spend a lot of I don't know I like to get my markers out and make it look pretty so I'll do that later 2019 goals he's all done 2018 income I have a month and then I have monthly income and then I like to do year-to-date things to optimize and I left my sticky notes I remember what was on that list I've count general account information life and disability insurance information giving retirement which we have a combination of 401ks and IRAs kids college home maintenance like water heater blue we spent this much money that kind of stuff will go here so I can see at the end of the year what we you know I mean it's helpful also to know just what progress we did throughout the earth did it that's it so that's my whole overview and my setup thank you so much if you stuck around the whole time I hope this you know gave you some ideas maybe if you were looking for new ideas and I appreciate you all joining me if you guys have questions leave them in the comments I'll do my best to answer them and like I said I have videos for the overview of this planner and sinking funds and my previous year's budget planners in the description as well and I've also linked to all the products that I used in this video in case you would like to pick them up for yourself so thank you so much for watching and I hope you guys have a day by

September 2019 Beers & Budgeting | It Sure Felt Like We Blew the Budget

**September 2019 Beers & Budgeting | It Sure Felt Like We Blew the Budget**



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September felt like a whirlwind of expenses. We crack open a very tasty Spanish lager from our friend, Alejandro Luengo, and pour over the numbers from September’s budget. Spoiler alert: it was a work hard / play hard month!

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it's hot it's sweltering so we decided to do beers and budgeting with no pants because that Hey hey guys it's Justine with debt-free Millennials and this is my husband Kyle hello and welcome back to another episode of beers and budgeting we are going over our September budget and holy cow the first thing I have to say about the September budget is that electricity bill wasn't saying I mentioned this on my Instagram stories last week that we had a record high energy bill more or less Momo's buyer beware situations we'll get into stay tuned alright we need a cool off yeah that's a good idea what a better way to do with the 7 days huh unless that vase as her sisters friend and our friend consequently he's a cool guy came back from Spain again and he brought us more beer because he watches our peers of budgeting videos so we're gonna feature the beer that he brought us it's called lager him or at the virgin if I'm seeing that wrong someone let me know I'm not sure how to pronounce that in Spanish 13 yank anyways that's a lager it's kind of cool it has a black top line which I've never seen before it's a really pretty can yeah so we're gonna drink it straight out of the camera yep and the greatest part is that it's also Chiefs football day and these are a great cheese colors I happen to match my outfit to the beer cane oh me too Travis Kelce you know what's up yeah no cheers good Cheers frothy I like it yeah it's kind of tart almost yeah it's not a usual lager it's a little tart but it has the lager finish yeah I wish get a lot yeah I like it the spanners know how to deal with the heat and it's very hot here we're not running our a/c right now because of our electricity bill last month so basically what it came down to is we forgot that San Diego does peak hours so they charge you more when people are home more often so peak hours in San Diego on the weekdays are from 4:00 to 9:00 and on the weekends it starts after two o'clock so if we do all of our chores or do some things before or after those time periods then we save a lot of money that includes running the air conditioner so right now it's what 2:30 so we are not running our a/c and it's hot and it's hot so we don't wear pants because it's just us now yep my sister moved out we got our own place it's pretty cool great neighborhood and now we get to walk around with no paints no pants okay should we go ahead and just jump into September yeah we got I can burn through this to them hot yeah me too all right I see two thousand dollar surplus holy cow yeah so I got to pay myself a bigger paycheck in September because I had more work come through which is really awesome nice work deserves and Cheers perks of being self-employed so I had a really good month for August and then I paid myself that those those funds in September so we do have a surplus but we typically are forecasting seventy five hundred dollars in income but we had almost close to ten for September which is great so we get to make some choices I also brought in an extra thousand dollars this month from overtime so it was good too yeah yeah big not okay the biggest thing well for September our electricity bill was 138 and you know electricity you pay retro actively for the month the previous so that was August energy bill the one that we're talking about what we won't pay until October and that's two hundred and twenty-six dollars for a 2-bed 2bath apartment in San Diego where the weather is always nice except it was hot and then you talked about the program super off-peak off-peak and on peak it just made me sick to my stomach comment below how much your energy bill was this month we can't be the only ones also a lot of people comment commented from Texas and they're like oh that's normal in Texas I was like screw that but their rents are probably a lot less cheap less more less expensive cheaper cheaper I'm having heat exhaustion okay anyway I see more red on there what happened to the groceries I know I was so bummed I've been doing so well on groceries so I primarily do the grocery shopping and I think it was a combination of we had our best friends out here for a weekend so we did pick up groceries for that and then we had my dad and his friend out and we kind of picked up a little bit more groceries for that I think that definitely so our our budget is 475 and ended up being 542 so what is that sixty seventy bucks extra and I think that time when you went to rouse to pick up more stuff for our friends it was like an $80 grocery grocery bill no no we picked that up and that's and I'm completely fine with that but it is convenient when your friends forget the credit cards we won't name names don't care at all I don't care at all either also alcohol we obviously spent more here but I didn't put it in red because we have kind of a sinking fund yeah we just have we set money aside for alcohol so that when weekend's come up like this we're able to to cover it works so backup to the mobile mobile they'll why are we $22 over the mobile bill okay so I need to update the forecasted from 78 to 100 dollars because that's what we talked about last month with the whole leasing fiasco which also I think we can call sprint now and ask them to take off that insurance part of the leasing thing god you remember that yeah part of the leasing terms was he needed to have three months of insurance coverage on his phone and that's $15 $20 a month so now we can take that off and they'll go back down a good thing to do if you have programs that require some weird extra part to it like that just immediately go into your I use Google calendars go in there and set yourself hold or reminder three months later that you can stop paying that I've done that for a few things this one I forgot luckily I got this thing here so thanks babe not your mommy but I also want to save money so it was on my mind we also had to pay our car insurance bill talked about that on Instagram too it went up so we were paying 384 ish no 386 376 we were paying 376 it's gone up to 398 but I've been using a tool called Gabby that compares car insurance quotes and supposedly we're still getting the best rate between that and our renters insurance which is due in October already paid that cool okay let's go down the fun section restaurants yeah it's not bad for having people over yeah for as much social activity as we had this past month yeah it looks like it was just a lot of kind of our standard stuff I think going to ballast point with our friends and covering dinner there was what put us over the top but not by much in 25 bucks holy worth it yeah great memories great experiences oh yeah totally uh our fun money I mean we went over on fun money because we had okay well there's not cheap book day-shift yeah and there was on the top my head wide open ocean it was pretty cool we had a grand a night and a late day I think now I think lies our lives we played between I yeah most a way to get way too cold yeah yeah I shouldn't session say okay it'll get a little chilly really to be on the yeah so we'll just deduct that money from our running total amount and then add in the to our won't get get to that for the October stuff okay shopping we were under not this month clothing we were under here you got a haircut everything else I got a good gifts budget going yeah we do misses right around the corner we do yep um Christmas and then I have a lot of birthdays coming up to including your own Glee my own yeah I'm excited and then here are our future future categories shall we go into that yes yeah we can get it we are nine hundred dollars away from hitting our downpayment goal of seventy thousand already yeah Wow feel like that didn't take that long to get there new okay we've got a good amount of vacation fund money set aside however we booked a lot of stuff for vacation which still needs to be transferred out we can get to that do you want to go over that yes oh my that's what my pause was earlier is like didn't we just drop like several thousand dollars on their plane tickets because we're gonna go on a cool European vacation it's gonna be awesome we are going to Europe he has an annual conference that moves around if you guys remember we went to Australia last November for his work conference I have a vlog on it I'll link to it in the description box below this year it's in England so we are going to England and then we are going to Amsterdam then we are going to Paris which has been on my bucket list forever I've been already said that'll be fun being there to see her reaction to it all the first time yeah and then we are going to visit friends in Vienna in Austria and so it's been really fun booking this trip because he gets his airfare and his hotel accommodations pay for while we're in Manchester then we also get our hotel and your airfare paid for when we go to Amsterdam because that's also part of a work trip so the outer pouch out-of-pocket costs are my flight and then the accommodations that we're doing outside of work and then transportation to get there however we used almost $900 worth of credit card points to book my airfare that's right nice work yeah so it pays to use the credit card points we use Chase Sapphire and that by far has the best rewards program of any other card if you don't have any credit card debt and you're interested in really really building up a point system the Chase Sapphire is definitely the way to go yeah with that okay so we did that in September we were also in DC I went to fincon and then I stayed behind an extra week because he had a work thing there and then we ended up kind of just eating out obviously the entire week and then with your per diem we only spent $130 to do that well that was worth it so worth it I love DC and then we had some leftover expenses from our trip to Chicago so in total we spent 36 7377 on vacation expenses which pretty damn well near wipes this vacation fund out Oh that hadn't been taken out of the vacation fund it oopsies yeah so we had some work to do okay and do you want to give us an update on stache and acorns yes all right acorns where we yeah it's gonna be down a market has been terrible that's not we are at one thousand five hundred and seventy three dollars and 21 cents okay where were we at for August oh yeah yeah the markets plummeted 1598 215 73 win it when we went down $20 yeah okay and I need stash the stash is fun I really like stash they say that every month one hundred and twenty dollars and 19 cents and we were at 114 dollars and 63 cents the previous month's but we contributed $21 yeah or $20 the whole market has been down so everything's gonna be down geez okay our Jeep Wrangler fund though is up because we have that money set aside in a high-yield savings account that pays one point nine percent interest that's with a lie you're interested just not there's no affiliates here I wish but a lie is awesome I highly suggest you check them out we're at forty four hundred dollars for a Wrangler and then my IRAs I think have stayed up yep hmm oh except for my Roth went down went from twenty-eight hundred thirty five to twenty thousand two hundred sixty-five but the traditional IRA went up and then the treat yourself fund is that 665 which I'm almost thinking we move the treat yourself into a lie because that's with our credit union and it doesn't pay Jack for an interest yeah it's like why not let's get the free money yeah no easy choice there you go mm-hmm okay that's September we both felt like we spent a lot of money in September so when I look back at it we did go over our monthly income by 700 Merc it looks like we went over our expenses versus our normal forecasted income but keep in mind the car insurance comes out of our sinking fund and so while it looks like we spent over what we normally bring in we didn't because that money comes out of your sinking fund if that makes sense you okay so for October we have this extra money I suggest we put it all towards vacation yeah without a doubt easy like easy yeah and then I already started kind of filling out October so I'm trying to think of any specialty things that are coming up my birthday which I don't really want to do a whole lot for I just kind of want to go to the beach yeah I'm not getting you a gift because we're going to Paris so that's her birthday gift yeah that's kind of what we do we give each other experience as well as I'm yes mm-hmm yes I like it um what else for October I mean your Esther's birthday my sister's birthday that's one my dad's birthday your dad's birthday your brother's birthday yeah yeah lots of people's birthdays in October well dad Simon says it's time to wrap it up okay Gaming is putting out a ton of body heat oh my god it's sweating I'm like literally sweating right now um we're gonna finish these beers we're gonna sit in front of a fan and watch football um this is this has been a good budget meeting it's a great budget meeting because we brought in like an extra two or three grand this month it makes it an easy talk you know easy discussion if it had been the other direction we would probably be drinking more because we need to yeah so we're lucky yeah so what's the moral of the story going into October being mindful of our expenses yeah as we take a European vacation I know yeah that's all right but everything is like a yin and yang because we're doing that European trip because your work is taking you there yeah it's like I've paid for if if if it was just us going on vacation that's easily a $10,000 trip out-of-pocket for two weeks visiting four countries yeah so we're doing it on a budget but I agree we're we're dropping mad money to do this experience but at the same time when you become debt-free this is what you want to be doing when you when you pay off debt when you don't have payments for anything else this is the kind of stuff that I want to be doing with that money absolutely I'm glad we're in agreement on that life's too short especially to be gizelle intense all the time yeah I steer beyond that cuz I'm not I'm not gizelle I am a zebra I have stamina but I'm not running fast distances zebra intense no no no no we'll figure out something else better to call that okay fine all right all right cool we love you guys we'll catch you in another video in october/november whenever we don't know we're hot

How to cut down monthly bills and save more money

**How to cut down monthly bills and save more money**



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How to cut down monthly bills and the way I do it.

what's going on YouTube my name is ty my blocks the ex-king calm and others are very dark day today just getting my work and I want to shoot a quick video on how to save money on how to save money how to cut things out me a wife has done some custom bills out and some things that people might not have thought about too recently so you know saving money one way to make more money it's a save on money right no you know if you're trying to make more money the best thing to do is look at your bills and what can you eliminate it and we eliminate some bills and we dinner ourselves and one bill that we got eliminated was the pest control service the orchid man the man was a great service and we lead them because there was a poor service a really good service on knowing bad thing was that you know was paying seventy seven dollars every other month so just running it up plus tax the most eighty bucks every other month to monthly that's forty eight bucks a month and you know in the beginning yeah I'd used them guy had these spider crickets in my home Oh camel crickets with the column in my home and I got it kind of hard to kill so I got me a pest control service and get rid of them which is fine and dandy but don't you have a kid you know stuff got your cut so that's what happened well had my son and stuff had to go so I called and canceled them and I invested in a one gallon water sprayer which I'll do review about that I'm about to get tossed are pro top star P and I heard a good chemical insecticide to use and I'm gonna use that to keep the bugs out so I can spray the yard I can spray the trees the the perimeter the windows actually the backyard the front yard and it kills mosquitoes too one thing about the orchid man I didn't like that you know we worried nine to five it was very hard walk I put it I was working in the world before I went you know across the street what they call it so the White House I was on Wednesday Thursday and Sunday so Wednesday I got make an appointment for Wednesday they coming to house pray and be done since I'm working 9:00 to 5:00 mode through Friday and they close at five o'clock it's very hard to get them inside the home versus Saturdays and Saturdays they work every other Saturday and then why do scheduled for Saturday it'll be close my neighborhood there'll be there's nothing I close but they'll be booked so the past four times I'll call for Saturday they make it pretty booked so why do and when they do come to the house they always spray once every other month so I mean which is fine but when they do spray will be at work so I don't know what they're doing I don't know if they're doing a good job or not I don't know do the sprayer the windows are they spraying the whole foundation or spraying the bushes to I don't know I really don't know so yeah you know nothing about the service but it you wonder that's why I decided to get rid of them and to do it myself and the product of doing the self is to positive things don't think it's just prozac all I know the con is that I waste more time but will take me maybe you know 30 35 minutes to get this mix of chemicals together put some clothes on and spray the whole house use the whole gallon whatever but the pros are I save money and I know that the work is done I can spray it knowing the house but the bushes the grass the trees shrubs the backyard I have a shed as well in my back I can spray that as well there's a lot of spiders and bugs in there I can spray that as well keep the bugs out of there as well so it looks like it's a good thing I counsel them so that's one thing the next thing we have done is we go spaying a lot of money for home security and it was paying about 50 bucks a month that's a lot of money for home security and no one of our family members said they pay way cheaper internet I'll talk to Taylor 15 bucks a month that's why there's a research on that and I know do with just soft security systems is on the rise right now and and I I can also mine once I saw the price how much would pay you got paper clip in the front but your pay 10 15 bucks 20 bucks a month for home security and then you know what will get me long story short the company that I had got bought out three four times so I was paying $25 more than beginning which is not bad but every other year they got bought out and the price keep going up and no and then the thing is but my my equipment did get better stay the same so I decided to it Do It Yourself security system and I kind of enjoyed doing it once you do it yourself versus get so I also come to it it feels better when you do it do you know it's done you know that the doors got sensors when those got sensors everything so it feels better so I eliminated that bill when I eliminated well I got cheaper bill so that's that really helps so those two bills I I got lured or eliminated on one thing we did was I invested in a hedge trimmer I invested in a weed whacker and I put much cutting all the grass all year long this year last year I hired a guy he forty bucks two more long I was pretty hot last year and this year wasn't too bad but this year I did all myself so if you paying someone to cut your grass then you older person you can't physically do it keep paying that person cuz you wanna be out there hurt yourself but you know a young person and you could do it yourself going investing money into a lawn mower a lot more like 90 to 100 dollars and now I'm a lot more maybe four or five years ago it's still going strong so will pay for itself I invest into a hedge trimmer by sixty bucks I got your weed whacker for like 45 so I thought all these things to help me keep my lawn good into the winter time when I'm growing more and it saved me money so how to hire someone to do it so the way you do it in square cut your grass dam with it know what to spray that I got a sprayer I go I go and Samari outside go ahead make stuff up and spray and and be done with it and be done with it so those are some ways you can start saving money see what bills you got now lower than light bill is harder maybe gets on energy-efficient bulbs into efficient appliances for your car insurance try to call around different companies and see the benefits the pros the cons and the cost compared to what you're paying now awesome one other way that's kind of if you're paying 120 and coming constantly what's hard you send in five eighty dollars I'll go ahead and do it because over time it will save me some money so try that as well I think what's something else another thing you could do with foam service that have a rising horizon sprint all the plates are extremely high I have a rising fault 115 years I'll have about 15 you got every one was 30 there was expensive I was paying $90 for one line and now I'm paying 80 bucks for two lines for me and my wife so I was like okay I'm seven ten dollars about she online I got a line and we split the bill we was clicking wireless that runs up 80 phone service is fantastic so hey if you got sprint verizon thinking about going to a prepaid service that has great services to be there there's so many out there and they think service is just as good so there's a couple things that help you save money dude don't do it yourself do yourself a pain exterminator learn how to do it yourself body stuff buy the equipment by the pesticides insecticides it'll last you a long time tossed our Protoss therapy with an uber I wanna do review about that as well I did I see somebody bought a plan of that stuff it lasted my year so it's imagine it is like $31 so after one bus will last me a year so they'll try to do it yourself cut your grass yourself do your peasant roll yourself do your home security yourself monitored yourself through apps try get a lower phone plan try go to a prepaid plan copy pay plan your bill never just never goes up and down it's always the same try to use more energy efficient equipment I mean the devices in your home and try to cut out cable I made people I mean people my job paying to 20 to 30 a month doesn't cable internet it'll need these days the cable is dead I would rather using Hulu or Netflix was internet service and my bill will be cheaper I mean in you know my youtube channel I show you how you can watch movies and TV shows for the world real real low okay so there's no reason for you to pay to 20 a month and the cable and you work 40 hours a week and you have kids so how many shows do you actually watch besides power and they have they have none so I mean you only watch three or four shows Mable's with sports but you pay the 220 a month that's ridiculous give her the cable going Netflix go to youtube live YouTube labs like like 30 or 40 bucks a month so what's your internet by self might pay for it for the lives of my 12 youtube live you might I paying forward you've had a hard I was a month but you're cutting your bill in half if you cut your bill in half so these are the ways to save some money you can save some serious money by cutting things out you don't need you could do it yourself you call around get a better quote and everything else stop eating out so much know maybe from from September there is a timber to December you should try to save money because know why the hot got Christmas coming up new year's Thanksgiving you have a lot of family soldiers going out coming up Black Friday and you need money so the best thing you could do now as a stop T now say more money hoping high-yield savings accounts to put that money in cook cook you a big possible get eat that for two three days cook you some chicken wings eat number two three days make up Potter lasagna and make eat that for two three days and use coupons week a lot of coupons in the mail use coupons you get in the mail that also helps use cashback apps on your phone use the dollar app you get a dollar back and it's not a lot of money but over time adds up you usually get outside gas at a time you get gas you scan your gas receipt and you get cash back right now since I've been using a gas app hell I've been using it since April to September I'm a $61 that's my scaly my gas receipt that says free money so these are some ways to save money just rethink your bills what bill can you eliminate and what bill key made cheaper what Bill you do yourself cat cut the grass myself I'll do myself alone can I do I'll do this oh security system saves the money I have to do it myself I can I cut out this pest control bill cut out cable and go out with another lor bill can I cut out there's a verizon bill the Sprint bill that's a lot of money mobile bills a lot of money can I cut those things out but cutting those things out you will save money how I say my my light bill many more installation in your home energy efficient devices lights all key things off that's what also helped you know save on gas you know when you one thing I do like instead of me you know sometimes if you get out were a good time and he goes if you're already out go ahead and do your good shopping while you're already out they come home versus on your day off you know except you get your car and go to the store coming back you're burning gas how about you go ahead and go shopping while you're already out they come home that way when we can you don't have to go buy groceries you can do anything but stay at home and save that gas money so yeah the plenty of ways to save some money you want to save money by cutting up bills and expenses kind of things you don't need and what it could not faith you could do yourself that's security bill the security bill right now and the orca man and you throw cutting grass I probably save $150 a month just cut those things out and do them myself that's it and with the home security won't you just it's easy it's easy you just stick it you good to go you good to go and but this goodness says that once you have a cell it's done it's done you'll read nothing else you've got a checking it out this is done and in and with the pest control you do it once a month you do it once a month you do we cut the grass do it once a month so all these things have to cut out you do it once a month you do it once a month and you save money you save money so but anytime what else can calm I read a blog post about this as well I have more videos coming out and I got a new video coming out I'm gonna do soon Peyer tomorrow Saturday it's called the peace of hunt hack I got I find a way to get we want a piece of her pizza you get cash back on to apps that didn't know had on there and check that video out download all these links below the video acorns you know acorns get money back your account by buying stuff get the dogs out you don't say get the dogs out go ahead and get it and you cash back on restaurants by link below get the get up side gas app you just get your gas receipt you get cash back within four hours get couple dollars back over time adds up that link below the video as well my name is Tyler asking comm help you save money make more money hide the whole money and I'll see you next time

What Every Creative Needs To Know About Finances | 50 30 20 Budget

**What Every Creative Needs To Know About Finances | 50 30 20 Budget**



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This video explains the 3 lessons every creative learns in finances too late. I’ll tackle how to budget and save money, especially as a broke artist. Planning a budget doesn’t have to be complicated and an easy budget such as the 50 30 20 budget can work for you too!

You can get to financial freedom and start managing your money the efficient way. As creatives, we just need a little push to the visual side so we can stop focusing on the numbers and start focusing on an easy way to understand our finances!

So often I find complicated dissatisfying diagrams trying to explain how to budget or get out of debt, but this doesn’t have to be the case!

Grab your notebook and let’s start to think about budgeting the simple + creative way!

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hey guys I'm Forrest like the trees today we're gonna talk about the three lessons every creative learns about finances too late so let's dive right in number one you gotta pay yourself first I feel like I learned this one a little late in the game I created a fashion line and the biggest mistake I always made when I sold garments was that I never paid myself at the end of the day I had no money to show for all the work that I had put in and as business owners and artists we always want to make sure our business is on its feet by reinvesting on upgrading our equipment but you have to remember you're not working for yourself for free you are your very first employee and the most important one and if you're not paying yourself properly at the end of the month then your business is really just a pool of your own free labor and you're basically an unpaid intern and personally I don't need any more internship hours log to my name so start paying yourself weekly bi-weekly whatever it is just give yourself a paycheck so the second lesson is to budget but budget to find clarity budget to clarify where your money is on the up so often budgeting is misconceive just counting every penny and is no fun but budgeting is really more about taking control of your money and knowing where your pennies end up you want to know where your money is going and how do you use your money to your advantage right if your money can work a little bit for you then why wouldn't you want to be in control of that budgeting doesn't have to be complicated either so just take a moment and explore different types of budgeting that can work best for you as an artist and that leads me to my third lesson one type of budget that I find super visual and easy to wrap your head around and you know this is especially if you're an artist or creative it's called the fifty thirty twenty rule it's a super simple way to remember where your money should go a budget for people who don't want to budget and so first think of a circle and we're gonna slice up your circle like a pie your circle is gonna be your income and we're going to distribute your income in two different sections 50 30 and 20 so slicer pie down the middle and 50% of your income is gonna be your knees like groceries rent insurance you know whatever the things that are necessary for you to keep thriving or surviving next slice the other half of your pie 30 percent is going to be anything that you want and we're separating your pie into once and needs so far do you want a new pair of shoes or do you need them whatever your wants are it should generally only be about 30% of your total income and so the remaining 20% is gonna go to your savings and this can be savings account or investments even but the more you save the more your money will work for you and you know make sure to start investing early the earlier you invest the better and so I hope some of these tips helped you guys out especially if you are creative struggling to get a hold of your finances if you guys have any questions just DM me on instagram at forest Alethea and i can help you to get the most out of your money now go get creative and manage your money thanks so much for watching if you like my video give me a little love like and subscribe below bye guys