Your little guy is precious. Yay for teaching your children about savings and budgeting. I sure wish I would have put more effort into that for my kids. They are all in their 30's now.
Your little one ❤ loved your plan about starting a savings account for your kids. I opened my very first savings account as a child. When a teacher took it upon herself to take us on a field trip to our local bank. One of the best experiences 💕
Hey Stephanie! Hello Carter, aww he sounds too cute! That's awesome that you'll be teaching them about budgeting. I hope all goes well with the unemployment and he gets his money soon. Great budget with me as always! Have a great weekend!! ❤❤
I’m so sorry to hear about your grandmother 💗 I did enjoy Carter’s cameo. He’s awesome! No burgers or hotdogs for him!! Haha. Great BWM, I hope the unemployment $$ comes in soon.
That’s awesome I was thinking about taking my two oldest to open a bank account, you just confirmed that I should by doing just that. Hi Carter love the Lego launcher ❤. No 🌭 and 🍔 okay mom 🤣🤣. Safe travels to and from your grandma funeral 🙏🏽💔. Yay to your hubby first work week, unemployment needs to pick up the speed. Great video ✨🤗💕 10:01
You are sort'a, kind'a starting to see, feel, and internalize how the snowball method works for debt reduction and elimination. Among other things, it allocates "all the money" on a an account of emphasis for both very real traction and also to effectively check items off the list. I strongly suggest that rather than spread your savings across multiple sinking funds, you concentrate on the $1000 Emergency Fund until the $1000 is sitting there to handle emergencies. Then move on. Say you have $100 to spend on some type of savings each month; the Emergency Fund is a type of savings fund. If you have 20 sinking funds, each gets only $5/ month. If you target a single sinking fund, say the Emergency Fund at $1000 you can have it fully funded in 10 months then move onto the next. If you had 20 sinking funds, it would take 20 months just to get $100 in each. This is ok for seriously looong term sinking funds but chances are you would be prematurely emptying those envelopes for some need or another before the 20 months to $100 aach or 200 months to $1000 each. - This is what cash flow is all about and happens to be a leading cause of business failures.
Hi Carter( and Stephanie)! I hope you are enjoying your summer. I think an emergency fund sounds good( if you don’t have one the universe usually tries to make you sorry for not having one for sure)I just found another budgeter who has a 75/25 budget when it comes to debt payoff (mistakes were made TH-cam name). She has good income but her company is I guess in bankruptcy so she will be losing her job eventually and she is prepping for it this way. Her circumstances are a bit different than yours( you have kiddos and that in itself presents challenges) but I still found her idea of taking the “ extra” after bills are paid and dividing it 75 to debt payoff and 25 to prepping for eventual job loss intriguing.
Good morning, thanks so much, I watch MWM also and am enjoying watching them save and pay off debt! We're going to get the e fund to 1k and then divide any extra after that between savings and debt. We've had the pleasure of having an emergency this year w no savings so I def don't want to be there again! 😅
If there is enough income, budget the $150 for gas but have a pre-determined place to reallocate any left overs. Since things are tight, it would be my recommendation to reallocate all left overs on your debt of emphasis. You will only see budgetary relief with reduced expenses and debt elimination is critical for that effort.
@@budgetfor5withstephanie let's assume that Home Depot remains the debt of interest and began the month at $2007. The $150 in this budget takes the balance down to $1857 but add $25 for interest and an estimated balance of $882. If between gas and grocery savings you can come up with $32 the balance would not only be below $2000 but at a nice, easy math amount of $1850. I'm thinking that you can shave $15/ week from the grocery over 2 weeks for a $30 savings and 3 weeks for a $45 savings; $90 if you can do it over 4 weeks in the June-July range. As is typical, snacks and drinks are going to be your summer struggle with active hungry kids in the summer heat. I understand that Florida's grocery prices can be high and its nolonger neither apple nor celery season. But let's figure a bunch of celery at $3 and a jar of peanut butter at $3 for a total of $6; you could probably get 2 to 3 days worth of lightly stuffed celery with peanut butter at a cost between $2 and $3/ day for all for all 3 kids. Slice across an apple in 1/8" slices, add a scant amount of peanut butter to a side of one of the slices, remove the core, use a second slice to create an apple and peanut butter sandwich. Shredded carrot salad comprised of shredded carrots, a spritz of lemon juice, just enough mayo to coat, and optional black pepper is another good summer snack. Even from scratch potato salad with limited added ingredients is filling; compare costs and consider pureed cottage cheese (add a kiss of milk as needed to the food processor or blender) as a mayo substitute (there have been plenty of times that cottage cheese per ounce has been cheaper than mayo here). Even a rice based salad makes for an energy providing snack that is cheaper than most packaged snack foods from the grocery store; go for the 1960's style Mexican or Spanish rice with tomato sauce/ paste, optionally bullion instead of additional salt, and paprika/ smoked paprika for Spanish or cominos/cumin for Mexican; optionally add scant amounts of corn, scant amounts of chopped green beans, and/ or scant amounts of finely diced sweet peppers.
😂😂😂😂 "Carter say hi" translated into Carter giving a family status report and a chance to get get some things off his chest!!!! Carter, I'm with you! Youre mama is a great cook! No hamburgers and hotdogs!😂😂😂😂😂
I'm trying to pay off my rent a center bill. $400.00 every other week $60.00 Right know I have saved up $107.00 for that fund. One hundred dollars every other week gets taken out of my check. For a separate account fund.
Your little guy is precious. Yay for teaching your children about savings and budgeting. I sure wish I would have put more effort into that for my kids. They are all in their 30's now.
Thanks so much Cat, I hope you have a great weekend!
Your little one ❤ loved your plan about starting a savings account for your kids. I opened my very first savings account as a child. When a teacher took it upon herself to take us on a field trip to our local bank. One of the best experiences 💕
Hi Areli, wow, that sounds like a great memory! Yes, they're pretty excited about it lol. I hope you have a great weekend 😊
Hey Stephanie! Hello Carter, aww he sounds too cute! That's awesome that you'll be teaching them about budgeting. I hope all goes well with the unemployment and he gets his money soon. Great budget with me as always! Have a great weekend!! ❤❤
Thanks so much Lisa, have a great weekend 😊
I’m so sorry to hear about your grandmother 💗 I did enjoy Carter’s cameo. He’s awesome! No burgers or hotdogs for him!! Haha. Great BWM, I hope the unemployment $$ comes in soon.
Thank you so much Mrs P, hope you have a great weekend!
Hi Stephanie! Here listening at work.
Hi Ang, thanks for watching, have a great weekend 😊
Hi! ❤ Awwww, super cute! 😊 Thank you for sharing!
Thank you Nien, have a great weekend 😊
Yesssss to teaching them financial literacy early. It’s a valuable lesson most of us didn’t get unfortunately ❤😊
Amen, trying to do better since we know better! Thanks for watching, have a great weekend 😊
Hey Stephanie, I’m here catching up on videos as I get ready to head out of town!!!
Thank you for tuning in Melissa! Have a great weekend 😊
lol Hey Carter! Yeah emergency fund.
Thanks for watching, have a great weekend!
Hi Stephanie, I recommend using the snowball money to fund the emergency account. You would be saving $250 with this paycheck. Just a thought 😊😊
Thanks for the suggestion Tracey 💜
That’s awesome I was thinking about taking my two oldest to open a bank account, you just confirmed that I should by doing just that. Hi Carter love the Lego launcher ❤. No 🌭 and 🍔 okay mom 🤣🤣. Safe travels to and from your grandma funeral 🙏🏽💔. Yay to your hubby first work week, unemployment needs to pick up the speed. Great video ✨🤗💕 10:01
Thank you Jonie! I appreciate you watching and hope u have a great weekend.
You are sort'a, kind'a starting to see, feel, and internalize how the snowball method works for debt reduction and elimination. Among other things, it allocates "all the money" on a an account of emphasis for both very real traction and also to effectively check items off the list. I strongly suggest that rather than spread your savings across multiple sinking funds, you concentrate on the $1000 Emergency Fund until the $1000 is sitting there to handle emergencies. Then move on.
Say you have $100 to spend on some type of savings each month; the Emergency Fund is a type of savings fund. If you have 20 sinking funds, each gets only $5/ month. If you target a single sinking fund, say the Emergency Fund at $1000 you can have it fully funded in 10 months then move onto the next. If you had 20 sinking funds, it would take 20 months just to get $100 in each. This is ok for seriously looong term sinking funds but chances are you would be prematurely emptying those envelopes for some need or another before the 20 months to $100 aach or 200 months to $1000 each. - This is what cash flow is all about and happens to be a leading cause of business failures.
Love the video 😊, Once again so sorry to hear about your Grandmother and have a safe trip.
Thank you so much Kisha, have a great weekend 😊
Hi Carter( and Stephanie)! I hope you are enjoying your summer. I think an emergency fund sounds good( if you don’t have one the universe usually tries to make you sorry for not having one for sure)I just found another budgeter who has a 75/25 budget when it comes to debt payoff (mistakes were made TH-cam name). She has good income but her company is I guess in bankruptcy so she will be losing her job eventually and she is prepping for it this way. Her circumstances are a bit different than yours( you have kiddos and that in itself presents challenges) but I still found her idea of taking the “ extra” after bills are paid and dividing it 75 to debt payoff and 25 to prepping for eventual job loss intriguing.
Good morning, thanks so much, I watch MWM also and am enjoying watching them save and pay off debt! We're going to get the e fund to 1k and then divide any extra after that between savings and debt. We've had the pleasure of having an emergency this year w no savings so I def don't want to be there again! 😅
Oh Carter lol!
😄😄😄 thanks for watching Jenny, have a great weekend!
Sorry for the loss of your grandmother 🙏
Thank you Elma 💜
Hello Carter nice to meet you
Hi Wendy, thanks for watching, have a good weekend!
Good morning! Hi Carter 😊
Good morning Janelle! Thanks for watching, have a great weekend 😊
Yay for Bryan’s first check!
I hope he get the unemployment soon though 😫
Thank you Katie, I'll give yall an update on Wednesdays video for sure!
He sounds so cute. ❤
Thank you Bianca, have a great weekend!
If there is enough income, budget the $150 for gas but have a pre-determined place to reallocate any left overs. Since things are tight, it would be my recommendation to reallocate all left overs on your debt of emphasis. You will only see budgetary relief with reduced expenses and debt elimination is critical for that effort.
That's a great idea Terry! I've been thinking the same thing, have a great weekend 😊
@@budgetfor5withstephanie let's assume that Home Depot remains the debt of interest and began the month at $2007. The $150 in this budget takes the balance down to $1857 but add $25 for interest and an estimated balance of $882. If between gas and grocery savings you can come up with $32 the balance would not only be below $2000 but at a nice, easy math amount of $1850.
I'm thinking that you can shave $15/ week from the grocery over 2 weeks for a $30 savings and 3 weeks for a $45 savings; $90 if you can do it over 4 weeks in the June-July range. As is typical, snacks and drinks are going to be your summer struggle with active hungry kids in the summer heat. I understand that Florida's grocery prices can be high and its nolonger neither apple nor celery season. But let's figure a bunch of celery at $3 and a jar of peanut butter at $3 for a total of $6; you could probably get 2 to 3 days worth of lightly stuffed celery with peanut butter at a cost between $2 and $3/ day for all for all 3 kids. Slice across an apple in 1/8" slices, add a scant amount of peanut butter to a side of one of the slices, remove the core, use a second slice to create an apple and peanut butter sandwich. Shredded carrot salad comprised of shredded carrots, a spritz of lemon juice, just enough mayo to coat, and optional black pepper is another good summer snack. Even from scratch potato salad with limited added ingredients is filling; compare costs and consider pureed cottage cheese (add a kiss of milk as needed to the food processor or blender) as a mayo substitute (there have been plenty of times that cottage cheese per ounce has been cheaper than mayo here). Even a rice based salad makes for an energy providing snack that is cheaper than most packaged snack foods from the grocery store; go for the 1960's style Mexican or Spanish rice with tomato sauce/ paste, optionally bullion instead of additional salt, and paprika/ smoked paprika for Spanish or cominos/cumin for Mexican; optionally add scant amounts of corn, scant amounts of chopped green beans, and/ or scant amounts of finely diced sweet peppers.
Hi Stephanie! Great video. I hope unemployment comes through. 🤞🏻
Thank you Elle 😊
😂😂😂😂 "Carter say hi" translated into Carter giving a family status report and a chance to get get some things off his chest!!!! Carter, I'm with you! Youre mama is a great cook! No hamburgers and hotdogs!😂😂😂😂😂
Hahaha right. He's telling it all lol. Been 2 weeks of summer and he's sick of it! Thanks for watching, have a great weekend.
Carter is the cutest ❤
Thank you so much, have a great weekend! 💜
HI New sub!
Hi, thank you so much for subscribing!
I'm trying to pay off my rent a center bill.
$400.00 every other week $60.00
Right know I have saved up $107.00 for that fund.
One hundred dollars every other week gets taken out of my check.
For a separate account fund.
Hi Pamela, thank you for sharing! You got this! It's going to be amazing to not have that bill anymore, keep going! 🙌
Lol Carter just melted me with his "also"s 😭🫶🏽
Hahaha thanks for watching, have a great weekend 😊