Sample Budget

$36,000 Budget

It’s fun (and helpful) to see someone else’s budget, so I’ve developed a realistic example.  In this scenario, the client, who we’ll call Becky, earns $36,000 after-taxes, which is $3,000 per month take-home pay.

Becky is single, 28 years old, with no children.  She is still paying off college debt ($10,000 remaining), but wants to be able to travel. Here’s her $36,000 budget: Keep Reading!

engagement ring

Do You Deserve It?

Why do you think you deserve a new iPhone every year? Your contract probably doesn’t even allow you to get a discount until next year! That’s a waste of money. So what if it’s an ounce lighter with a millimeter larger screen, back in the 80’s people got along just fine without it at all. Yes, it’s convenient, and I do love my iPhone, MacBook Pro, and my iPad, BUT, I waited until I got discounted prices, used deals, or the best sale possible after tracking it for a long time. Why? I know that I don’t deserve everything right away! Even if I have the cash in my bank account, I wait. Why would I waste $400-600 buying an iPhone before my contract is up when my current one still works, and I can get it for $200 next year (and there will be another edition next year anyway). Now I can invest that $200-400, earn 6-10% interest, and ultimately, retire younger! (Okay, that’s still far out, but every bit counts, and that’s the mindset YOU NEED!) Keep Reading!

Overwhelmed with money

Is Investing Too Overwhelming?

How much money is in your bank account? Is it too much?! (Note: It’s probably too much if it’s more than your emergency fund and more than what you need for your next month or two of bills.) I highly doubt your making much interest on your money sitting in a bank account, even if it’s a money market, I haven’t seen any earning more than 1% in the past few years. So, it’s time to get with the program! Start investing! Make it easy by picking a mutual fund. I’ll explain the benefits of a mutual fund later. Keep Reading!