290 | Stress-Free Budgeting, Marriage & Money Tips, and Teaching Kids Financial Literacy
You Don’t Have Time Not to Do This
Say this out loud:
“I don’t have time not to automate my finances.”
Say it again, and this time, believe it!
It’s true, friend—taking the time to set up an automated financial system is not just a task, it’s an investment in your peace of mind. Every minute you spend now will save you countless hours (and dollars) down the road. Imagine the freedom of knowing your bills are paid, your savings are growing, and your spending is under control—all without lifting a finger.
You can’t afford to wait. Your future self will thank you for taking action today. Remember, you deserve the clarity and calm that comes with having your finances in order. It’s time to make it happen!
Key Takeaways:
- Automate Your Budget for Success:
- Set up multiple bank accounts for specific spending categories like bills, groceries, and personal expenses to ensure that you never overspend or lose track of your finances.
- Save for Annual Expenses Monthly:
- Break down annual expenses, like subscriptions or insurance, into monthly savings contributions to avoid unexpected financial stress.
- Use Spending Buckets:
- Allocate funds into various “savings buckets” for known expenses throughout the year, ensuring that you’re always prepared for things like holidays, vacations, or emergencies.
- Financial Literacy for Kids:
- Start teaching your children about money as early as possible, integrating financial lessons into everyday activities to instill strong money habits from a young age.
- Prioritize Personal Financial Health:
- Focus on your financial well-being first before overcommitting to savings for your children’s future. Secure your financial stability to ensure you can support them without sacrificing your own retirement.
Episode Summary: In this episode, Vanessa and Shauna, co-CEOs of Ideal Balance and hosts of the globally ranked Financial Coaching for Women podcast, discuss the importance of setting up a practical and automated budgeting system. They emphasize the need for creating multiple bank accounts to manage different types of expenses and stress the importance of monthly saving for annual costs. The duo also shares their insights on how to navigate financial disagreements in a marriage, the importance of prioritizing personal financial health, and the power of teaching children financial literacy.
They explain how to move from mindless to mindful spending by setting up spending buckets and highlight the significance of educating children about money from a young age. For those already on top of their budgeting, Vanessa and Shauna offer advice on investing and preparing for retirement, even if you feel like you’re starting late.
Call to Action
If this episode hit close to home, it’s time to take action. Consider purchasing our Simplified Budget System to begin organizing your finances. Need more help? Book a free 20-minute financial coaching call to get personalized advice. Join our supportive Facebook Group to connect with others on the same journey. Let’s make 2024 the year you take control of your finances, build confidence, and live without financial stress.
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We are excited to create the time & space to talk to you about your current money situation. This is a free, no-obligation call where we can answer questions you may have and maybe find some quick wins for your budget.
What do you have to lose?
Join the Conversation: What’s your biggest takeaway from this episode? How are you planning to implement these financial strategies in your life? Share your thoughts in the comments below or join the discussion in our community on Facebook.