Tag Archives: savings

Budget Friday: Submission 7

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Hey everyone! Welcome back to another episode of Budget Friday. This is seriously my favorite part about personal finance, the chance to help others get on a budget, get out of debt and reach their financial goals. I love showing the power of a well-thought out budget plan, and the long term results they can have.Today’s budget is an anonymous submission. We’ll call him Harold and Marge. Background: Harold and Marge have done well. They are5 5 years of age and have just finished putting their youngest through college, debt free! They are now looking at retirement and want to retire with a nice giant chunk o’ change saved up. Let’s check out some numbers: Assets: Home – $375,000 Retirement Fund Savings (401k and Roth IRA) – $650,000 Emergency Fund Savings – $6,000 Debts (Balances): Home Mortgage – $127,000 (15-year fixed, 3.25%) Goals: Pay Off Mortgage Save $2,000,000 then retire! … Continue reading →

Budgeting Infographic

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Budgeting-How-Small-Cutbacks-Lead-to-Great-Savings-Intuit

In my comments, my awesome real estate agent Robby Leviton dropped a link to a sweet-tastic infographic put on by Intuit. It was posted about a year ago, but the details are still relevant. I wasn’t surprised in the slightest that the largest expenses were food and entertainment. Now, I am all for gettin’ my food on and catching a good flick, but there are thousands of dollars in potential savings here. I like that they, too, are trying to remove the word “budgeting” from the list of household swear words, as that has been my goal from the beginning as well. So let’s check out what a household budget can do for YOU! Thanks to Personal Finances from Quicken for proividing this! Now, I’ve done a few of the things suggested here, but definitely have some room for improvement. I have a few bulbs I can replace, and my … Continue reading →

Budget Friday: Submission 6 – Weed Edition

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  Budget Friday: Submission 6 Hey everyone! Welcome back to another episode of Budget Friday. This is seriously my favorite part about personal finance, the chance to help others get on a budget, get out of debt and reach their financial goals. I love showing the power of a well-thought out budget plan, and the long term results they can have. Today’s budget is an anonymous submission. We’ll call him Michael Phelps. Background: Michael is in a unique situation, where he has a great income and low expenses, and therefore has a great many possibilities as far as his financial future. He has some decent assets, not too much debt, and a healthy savings account. But there is something interesting about his budget…hmmm….. Assets: 3 cars – 2 paid for (value est. $5,000 each) and 1 with a loan. Home equity and real property est. $150,000 Checking account $21,000 Savings … Continue reading →

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