Snag Our Signature Budget Template!

Hey there, budget besties! 🎙️ It's Shana and Vanessa here, and we know you sometimes feel like your bills are playing hide and seek with your bank account. Today, we're diving into the top 12 mistakes that make your finances feel super messy and how to avoid them. Let's get into it!

Episode Highlights:

1. One Account Chaos

   Keeping all transactions in one account is like trying to find a needle in a haystack. Solution? Separate your accounts for bills, spending, and savings to get a clear view of your finances.

2. Multiple Payment Methods

   Using different accounts and cards for bills? That's a recipe for confusion. Stick to one account for bill payments to keep things simple and trackable.

3. Duplicate Payments

   Ever paid for Netflix twice? Consolidate all transactions into one account to spot and eliminate duplicate payments.

4. Overlooked Subscriptions

   Those $4.99 subscriptions add up! Regularly review and clean up subscriptions to save money.

5. Missing Out on Requotes

   Not requoting your insurance annually? You could be missing out on savings. Call a broker to get the best deals.

6. Avoiding Auto-Pay

   Afraid of auto-pay? It’s your new best friend. It can save you money and prevent late fees.

7. Skipping Paperless Billing

   Go paperless to reduce clutter and sometimes save money with discounts.

8. Not Using ACH Payments

   ACH payments often come with fewer fees. Make sure to use them to save a bit more.

9. Overdraft Fees

   Overdraft fees are money down the drain. Set up alerts and keep track to avoid these sneaky charges.

10. Late Payment Fees

    Missing due dates costs you. Set up auto-pay and reminders to keep late fees at bay.

11. Not Reviewing Your Bills

    Always check your bills for unexpected charges or increases, especially after promotional periods end.

12. Forgetting Annual and Quarterly Bills

    Annual and quarterly bills can sneak up on you. Set up a separate savings account to prepare for these.

Action Steps:

1. Separate Your Accounts: Create a dedicated bills account and automate your payments.

2. Review and Requote: Regularly review your bills and requote services like insurance annually.

3. Track Subscriptions: Keep an eye on subscriptions and cancel those you don’t use.

We know it's a lot, but trust us, tackling these mistakes will simplify your financial life and save you money. Start with the biggest impact change: separate your bills account and automate your payments.

4 Ways To Connect With Us:

1️⃣ FREE CALL: Book your FREE 20-Minute Financial Coaching Call now! Get personalized advice and start your financial journey ➡︎ https://www.budgetbesties.com/freecall

2️⃣ FACEBOOK: Become part of our Supportive Facebook Group. Connect, share, and learn with others mastering their budget skills ➡︎ https://www.budgetbesties.com/facebook

3️⃣ BUDGET: Grab our Signature Budget Template! It's your key to organizing and optimizing your finances effectively ➡︎ https://budgetbesties.com/budget

4️⃣ COACHING: Ready to dive deep into your finances? Sign up for 1-on-1 or Group Financial Coaching. It’s the accountability and guidance you need to make real progress ➡︎ https://budgetbesties.com/coaching

"I love Shana & Vanessa and this podcast is amazing!" < If that sounds like you, please consider rating and reviewing our show! It helps us to reach more people – just like you – to help them change their financial future. Don’t forget to follow the show so you don’t miss any episodes! And, if you’re feeling really generous, we’d be SO honored if you would share this podcast with someone.

Click here to view our privacy policy.

This description may contain affiliate links, meaning we may get a commission at no cost to you if you click & purchase!

Snag Our Signature Budget Template!

Hey budget besties! This episode is all about breaking down the barriers and fears women have around the concept of wealth. We’ll dive into why the word "wealth" can be intimidating, share personal stories, and offer practical steps to help you start building the financial future you deserve.

This episode is from a conversation we had with our friend Holly Logan from the "Lead with Empathy" podcast. Go check her out on Spotify!

Key Takeaways:

1. Redefining Wealth:

2. Wealth isn't just for the elite—it's for all of us! It’s about living the life you want and achieving your personal goals.

3. Women often shy away from the term "wealth," but it’s time to change that mindset and own our financial power.

4. 90-Day Review:

5. Start by doing a 90-day review of your bank and credit card statements.

6. Categorize your spending to see where your money is going. This is the first step to creating a realistic budget.

7. Creating a Budget that Works:

8. Use real numbers from your 90-day review to create a budget.

9. Prioritize your values and allocate your money where it matters most to you.

10. Bougie on a Budget:

11. Yes, you can enjoy the finer things in life without breaking the bank!

12. Identify areas where you can cut back and redirect that money to what truly makes you happy.

13. Automating Your Finances:

14. Set up multiple accounts for different purposes (bills, spending, savings).

15. Automate transfers to ensure your money goes where it needs to without constant manual effort.

Practical Tips:

1. 90-Day Review:

2. Grab your bank statements from the past three months.

3. Use different colored highlighters to categorize your expenses (bills, groceries, gas, fun money, etc.).

4. Identify areas where you can cut back and reallocate funds.

5. Budgeting:

6. List all your income and essential expenses first.

7. Allocate remaining funds to your priorities and goals.

8. Use a budgeting tool or app to keep track of your spending.

9. Automating Savings:

10. Set up separate savings accounts for different goals (e.g., vacation, emergency fund, holiday shopping).

11. Automate transfers to these accounts on payday.

12. Managing Debt:

13. Decide whether to focus on paying off debt aggressively or balancing debt repayment with savings.

14. Remember, it’s about what works best for you and your financial goals.

4 Ways To Connect With Us:

1️⃣ FREE CALL: Book your FREE 20-Minute Financial Coaching Call now! Get personalized advice and start your financial journey ➡︎ https://www.budgetbesties.com/freecall

2️⃣ FACEBOOK: Become part of our Supportive Facebook Group. Connect, share, and learn with others mastering their budget skills ➡︎ https://www.budgetbesties.com/facebook

3️⃣ BUDGET: Grab our Signature Budget Template! It's your key to organizing and optimizing your finances effectively ➡︎ https://budgetbesties.com/budget

4️⃣ COACHING: Ready to dive deep into your finances? Sign up for 1-on-1 or Group Financial Coaching. It’s the accountability and guidance you need to make real progress ➡︎ https://budgetbesties.com/coaching

"I love Shana & Vanessa and this podcast is amazing!" < If that sounds like you, please consider rating and reviewing our show! It helps us to reach more people – just like you – to help them change their financial future. Don’t forget to follow the show so you don’t miss any episodes! And, if you’re feeling really generous, we’d be SO honored if you would share this podcast with someone.

Click here to view our privacy policy.

This description may contain affiliate links, meaning we may get a commission at no cost to you if you click & purchase!

Snag Our Signature Budget Template!

Hey budget besties! Have you started on your August budget yet? We're here to help you get ahead and make sure you're all set for the upcoming month. Whether you're preparing for college or your kids are heading back to school, we know there's a lot going on. Join us as we walk you through the steps to create your August budget, even though there's still a week left in July.

In this episode, we discuss why it's crucial to get a paycheck ahead and how to plan for those early August bills. We share personal stories, practical tips, and our signature budgeting methods to ensure you're financially prepared for the month ahead.

Key Topics Covered:

• Why Start Your Budget Early?

• The benefits of getting a paycheck ahead

• Planning for early August expenses

• Closing Out July’s Budget

• How to review and finalize your July budget

• Importance of zeroing out your expenses and adjusting categories

• Setting Up Your August Budget

• Five simple categories: Income, Debts, Bills, Spending, Savings

• Listing all income sources, including unexpected ones like gift cards or bonuses

• Updating and setting minimum payments for debts

• Reviewing and adjusting recurring bills and subscriptions

• Spending and Saving Strategies

• Practical tips for managing spending on groceries, gas, and personal expenses

• Setting realistic amounts and adjusting based on past spending

• Importance of a kids’ envelope/account for families

• The excitement of saving money and seeing your savings grow

• Special Considerations for August

• Planning for school-related expenses like uniforms and sports physicals

• Adjusting for increased travel and gas costs with back-to-school activities

• Starting to budget for upcoming holidays and family events

• 
  

  4 Ways To Connect With Us:

  1️⃣ FREE CALL: Book your FREE 20-Minute Financial Coaching Call now! Get personalized advice and start your financial journey ➡︎ https://www.budgetbesties.com/freecall

  2️⃣ FACEBOOK: Become part of our Supportive Facebook Group. Connect, share, and learn with others mastering their budget skills ➡︎ https://www.budgetbesties.com/facebook

  3️⃣ BUDGET: Grab our Signature Budget Template! It's your key to organizing and optimizing your finances effectively ➡︎ https://budgetbesties.com/budget

  4️⃣ COACHING: Ready to dive deep into your finances? Sign up for 1-on-1 or Group Financial Coaching. It’s the accountability and guidance you need to make real progress ➡︎ https://budgetbesties.com/coaching

  "I love Shana & Vanessa and this podcast is amazing!" < If that sounds like you, please consider rating and reviewing our show! It helps us to reach more people – just like you – to help them change their financial future. Don’t forget to follow the show so you don’t miss any episodes! And, if you’re feeling really generous, we’d be SO honored if you would share this podcast with someone.

  Click here to view our privacy policy.

  This description may contain affiliate links, meaning we may get a commission at no cost to you if you click & purchase!