Episode 008- Finance: Budgeting

Budgeting- Telling your money where to go and not vice-versa. This week we are kicking off our finance talk starting with the basics :budgeting. If you do not have a written budget that you reference on pay day before you spend, I strongly recommend it! It will change your life! When managing finances with a budget here are a few items  you should consider including: Rent/Mortgage Groceries Transportation Emergency Fund Clothing Travel Expenses Pet Cellphone Utilities Child Care School Expenses Groceries Fitness Insurance and more! Credit Card Debt Student Loans Savings Thursday June 4, 2020 I will be live on Instagram as @millelivinpodcast with @millennialfinancialeducator (Candace) a financial coach and consultant where we will be having a chat about all things financial! To learn more about Candace and the services she offers visit her website https://www.candacemcgee.com When we discuss finances you will hear me mention the following baby steps from one of my financial mentors (in my head that is lol) Uncle Dave’s 7 baby steps to financial freedom are: Baby Step 1 – Build a $1,000 emergency fund Baby Step 2 – Pay off all debt using the debt snowball Baby Step 3 – Save 3 to 6 months of expenses in savings Baby Step 4 – Invest 15% of household income into Roth IRAs and pre-tax retirement Baby Step 5 – College funding for children Baby Step 6 – Pay off home early Baby Step 7 – Build wealth and give