Sunday, January 23, 2022

making’ money moves // 7 budgeting tips 💰

Since 2020, I've been slowly getting more and more conscious of every dollar I spend. I wish I would have done it earlier, BUT I'm excited to share everything I've learned and have been doing in the past two years! Let's save!!

Here is the budgeting spreadsheet I use. Make a copy and make it your own! Big props to my bestie for helping me create such an organized document! 😍 In it, I account for where my money goes each month and when I can up my 401K and savings contributions + know when I have extra fun money!

Here are my top 7 tips for budgeting!

1. Savings - I have a 3 month emergency fund in my savings account. I also add in any extra money I can for bigger purchases or travel during the year in order to pay those off right away.

2. Checking - I keep always keep $2,000 in my checking just in case and for any auto recurring payments.

3. Credit Cards - I put almost everything on my credit cards and pay them off with every pay check. This way I can get my points and rewards I actually use!

    Southwest credit card - I use this card most. I need to call and ask them to wave the annual $69 fee. But I've gotten air travel and my Spotify premium free using this card so much!

    Amazon credit card - I use this one on all my Amazon purchases but I am trying to use Amazon less this year. Less shipping and purchasing more local. I'm really trying to step up my sustainability in the new year!

4. Ibotta - This is a great app to have while shopping at so many places! Every time I need to buy something online, I hop on my laptop and the Ibotta app pops up on any website that is is compatible with. I use it to shop at Target weekly. I've gotten rewards from Sorel and looking into one from Tory Burch! Shop and get cash back?! Yes please! You can apply here!

5. Poshmark or local consignment stores - Anytime I am thrifting, I am looking for the most high quality items so that when I am ready to freshen up my wardrobe, I can sell them and make money back! You can sign up for Poshmark with my code THENERDYGIRLIE to save $10 of your first order.

6. 401K - I've started off with $250 per paycheck this year and after January ends, I'll reassess and see if I can up that. I'd love to get to the $19,500 max per year.

7. Roth IRA - Last year in July I opened up my Roth while I was waiting for my new company to give me access to a 401K and was able to contribute $1000 a month for 6 months. This year I add $500 a month to max at $6,000.

How do you keep track of your money? Save? Invest? I'm still new at this. I'm so happy to have best friends who can help me learn and I can pass on my knowledge! Invest in yourself and your future! You deserve it!


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