Having separate savings accounts for goals and labeling those accounts has really helped me. As of today I've saved up almost $4,000 in a vacation fund for my Vegas trips in the future. I also have an account specifically for CMA music festival, and another for concerts. The CMA fest just happened so I pulled money from that account and put it into a CD that matures in April so I'm not tempted to use that money for other things
I keep all of our sinking funds in one account and use a spreadsheet to track the specific goals. It can be tough to identify a target amount for some things with opaque pricing (like contracting work), but I do my best by reading Forbes and Bankrate articles or asking people in my area who have had the type of work done that I am looking to do.
I'm not sure who needs to hear this, but saving for a better investment is a tremendous step toward financial independence because you're saving a day off work.
Do you currently budget? You have to look for areas where you can cut back spending or increase your income. For some people there is not much or any wiggle room, and that does make it practically impossible to get ahead. I hope you are able!
Having separate savings accounts for goals and labeling those accounts has really helped me. As of today I've saved up almost $4,000 in a vacation fund for my Vegas trips in the future. I also have an account specifically for CMA music festival, and another for concerts. The CMA fest just happened so I pulled money from that account and put it into a CD that matures in April so I'm not tempted to use that money for other things
This video hit home for me. Thanks for doing what you do!
I keep all of our sinking funds in one account and use a spreadsheet to track the specific goals. It can be tough to identify a target amount for some things with opaque pricing (like contracting work), but I do my best by reading Forbes and Bankrate articles or asking people in my area who have had the type of work done that I am looking to do.
SoFi has vaults that work just like the buckets
Thanks for this information ❤
I have four bookmarked high yield savings accounts. Emergency fund, future car fund, vacation fund, and home projects fund.
I'm not sure who needs to hear this, but saving for a better investment is a tremendous step toward financial independence because you're saving a day off work.
Yes it's been helpful to my general income, I make about an extra 2k weekly from my investment portfolio
There's a lot of investing options real estate, cr ypto, ETFs, st ocks but my best advice get a professional lead you into profitable one
I definitely agree with you on this you're right a financial consultant will be of so much help about investing
I recommend Rachel Blanc, she's a good one I've been working with her for a good time
Growwealthywithrachel
Cool 😎 bumper music 🎶
So how my banks are you using for your savings account? Are they all with different banks?
Schitt's Creek t-shirt!?
6 months of expensive is so , so, so much money. I don't even know how we couldl possibly save that much!
Do you currently budget? You have to look for areas where you can cut back spending or increase your income. For some people there is not much or any wiggle room, and that does make it practically impossible to get ahead. I hope you are able!
Also it’s 6 months of absolute necessities only, not 6 months of all your expenses. Sometimes that helps
i like your shirt
So how did you save up these large sums?
It’s called “pay yourself first”
Set up a budget and auto save money into them
😊❤😊
I get 4.30% apy with sofi
Privileged Cute chick humble bragging about how much money she has…hooray
Victim mentality much? You'll never go anywhere with that attitude