41. Debt Series Part 2: Budgeting + Investing

This is part two of the practical ways to pay off your debt series! If you missed episode 36, go back and listen first, that's where we did the debt inventory and laid the foundation for everything we're building on now.This episode covers three big topics: budgeting, emergency funds, and investing while in debt.Topics covered in this episode:What a budget actually isHow to set realistic spending numbers using past statementsBudgeting methods: 50/30/20, zero-based, pay yourself first, envelope systemEmergency funds during debt payoffShould you invest while in debt?Balancing low-interest debt payoff with investingResources mentioned:Debt Reset Guide — A free guide to help you reset your relationship with debt and start freshFree Budgeting Google Sheet — Simple budgeting spreadsheet to track your income, expenses, and marginMonarch Money — A budgeting app that connects all your accounts in one placeLunch Money — A simple, flexible budgeting tool great for visual spendersAlly High Yield Savings — My go-to high yield savings account (HYSA)Work with Taylor — Book a one-on-one money consult with me!Connect with us!Social Work to Wealth NewsletterContinuing Education Updates Only NewsletterSubmit your podcast episode idea!Find Social Work to Wealth on: TikTok, Instagram, & YouTube.Disclaimer: The information presented in this podcast & on any affiliated platforms is for educational, informational, & entertainment purposes only and should not be construed as legal, financial, or professional advice. Consuming this content does not create an attorney-client relationship. If you need legal advice pertaining to your particular situation, consult one-on-one with an attorney.