We take a look at traditional budgeting recommendations and see how they hold up to our budget. Show Notes 50/30/20 50% of income on essentials 30% of income on wants 20% of income on savings How this works for us: 39% of income on essentials 13% of income on wants 47% of income on savings Housing 30% of gross (before…
Category: Podcast
Podcast
Episode 23: Tax Season and the Stock Market
Tax returns and the stock market. Time to get fun! Show Notes We already have our tax returns back. A total of ~$6,600. Here’s the breakdown: State: $1,750 Federal: $4,850 (~$4,900 is a federal credit from our solar panels from last year) Breaking even on your taxes is the goal. A refund means that you gave the government an interest…
Podcast
Episode 22: How to Budget for Inconsistent Income
We answer listener questions on budgeting for an inconsistent income and what to do with a large inheritance. Show Notes Our first question comes from listener Ashley My husband and I got married last year and just recently started getting more involved in our finances as a married couple (setting our goals, deciding where our money should go etc.) I am…
Podcast
Episode 21: Your Budget Questions Answered
In this episode, we answer a couple of listener questions on how we setup and use our budget. Show Notes Our first listener email comes from Virginia. She asks, One question I have is how many bank accounts (checking or savings) do you need to have? You need to have a savings account and a checking account. The checking account…
Podcast
Episode 20: New Year, New Job, New Budget
With a new year upon us, Danielle has a new job and a new salary. In this episode we discuss our process for updating our budget to reflect our new income. Show Notes Increase of about $750 a month New job has a 2% 401K match Old job had a 6% 401K match The Plan Open a Roth IRA and…
Podcast
Episode 19: A frank spending discussion and holidays
This week we talk about how we agree on large spending decisions and touch on holiday spending. Show Notes iPad Pro Danielle’s DeviantArt page Pinterest
Podcast
Episode 17: Question for When You Are Getting Started
Nate and Danielle answer questions from listener Erin about her upcoming marriage and what it means for student loan debt, renting vs. buying, budgeting, and more Show Notes First question, if I have debt from school and he (my future husband) doesn’t should we combine accounts? We both believe in the “whats mine is yours” marriage. We believe that you…
Podcast
Episode 16: Setting Budget Categories
In this episode we answer a question from a listener about budget categories. We offer our suggestions on how we would treat the situation if we were in it. Show Notes Excerpt from listener email: We’ve been tracking our expenditures and budgeting for about 6 months now, so we’ve been able to create categories for most fixed and variable expenses.…
Podcast
Episode 15: Challenges and Struggles
In this episode we talk about some of our struggles and challenges when it comes to budgeting and keeping a budget. Show Notes Updates: Solar Panels paid off!!! Focus on paying down the house Repay $1,000 we took from the emergency fund to finish off the solar panels It’s hard to remember to put things on the budget Keeping track…
Podcast
Episode 14: Updating Our Budget
In this episode, Nate discusses recent changes to the budget and how it impacts short, mid, and long-term goals Show Notes Budget Increases Personal budgets get an additional $50 a month Going out gets an additional $50 a month Budget Decreased Daycare goes from $1050 to $900 Debts Solar Panels: $3500 Car: $18,000 House: $295,000