Everybody talks about spending less and saving more. 🤔
But what does this really mean for you? 💸
If you’re looking for an easy way to start managing your money, it’s important to understand money management from a financial perspective.
This means you need to know how much money is coming in and where it’s going. You may be surprised at how much money you spend on things that aren’t necessarily important, like eating out or buying things on impulse. 🛍️💳
Stay tuned for this week's #PodcastOfTheWeek to learn more about how to set up money management systems for short-term and long-term goals. 🤝
Personal Finance shouldn’t be complicated, and Katie makes it fun and easy through her podcast, which is why I’m stoked to have been able to find this episode!
Katie has some great tips on how to structure all of your savings and expenses so that you can start to make progress on your financial goals. She also breaks down some common money mistakes that people make while trying to save money, which most of us can probably relate to! 😅
Podcast: The Money with Katie Show
How to Set Up Money Management Systems for Short-Term & Long-Term Goals
Host: Katie Gatti Tassin
Key Takeaways:
Savings is just deferred spending. You need to have buckets for when you might be using money. Ex. planned vacation, emergency funds, unexpected flight or travel money
Identify how much you may be spending on your income before tax for each category. Then, set a budget so you can set a boundary on which event you should be attending or not.
The goal for retirement financial planning is by starting early, you have more than enough to dig through your savings and investments to cover your expenses.
Episode Quote
“Time is the most potent contributor to your long-term savings goal.” - Katie
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