Your money would love to multi-task. 🤓 I’ll show you exactly how. Welcome to brilliant budgeting! #budgetplanner #budgetcoach #financialindependenceretireearly #budgetingisfun #organizedmom #wealthplanner

This one is juicy! 🤓 🎥 Full vid on the red play button app! She built her business from the ground up and it is booming 😍 I’m not about to let Uncle Sam dull her sparkle, especially not as her first bundle of joy comes into the world! 🥹 👍🏽 She will shift to quarterly tax payments going into 2025. Filing as an S-Corp is worth considering. What I cover in this week’s walk-through: 🔹Recommended account setup for the self-employed 🔹Tax projections when you’re structured as a sole proprietorship (and the question to ask to determine if you’re ready to file as an S-Corp) 🔹Balancing saving & debt payoff 🔹Personal vs. business emergency funds ✨all in 28 glorious minutes.✨ The Baby Steps (Dave Ramsey’s program) have helped her crush debt ahead of schedule - going from $200K to $74K (if we exclude mortgage). But she’s reached an inflection point on her financial journey - business is GOOD, a baby is on the way, and this will be the first year that her tax obligation is 😳 Multi-tasking her money is the power move right now. 👉🏽 Save for baby 👉🏽 Save for taxes 👉🏽 Do NOT pass the emergency fund block when you budget. $1,000 is not enough. 👉🏽 Do NOT let up on the 18% personal loan. Continue making additional payments. This is a shift from DR’s recommended debt snowball to debt avalanche. When you want to pay less interest on the way to the checkered flag, go avalanche. 👉🏽 Once the personal loans are gone and she finds her tax savings rhythm, it’s time to press on the gas with investing. She’s got some nice options: solo 401(k), SEP IRA, Roth IRA…and something tells me she’ll keep going with real estate too 😉 👑 This woman is a powerhouse and I’m excited for her next chapter! Remember: budget to invest. Invest to build wealth. Rooting for you, Rachel #budgetplanner #budgetingisfun #howtobudget #selfemployed #businessfinances #womanownedbusiness #womeninfinance #financialindependence #financialfreedom

Why does it work? 👉🏽 Increased awareness and focus 👉🏽 Accountability 👉🏽 Decreased reliance on heuristics The most successful people are trackers. Measure it so you can master it. #financetips #financegoals #budgetcoach #budgetplanner

The formula I use/teach instead: Expenses ➡️ Emergency Fund ➡️ Extra Debt Payments ➡️ Investing ➡️ Saving ➡️ Investing for kids/giving ➡️ Family fun money ➡️ Individual fun money Every single time you get paid. The point is not to fill every section every time. The point is to follow the roadmap in this order every time. Don’t guess your next best move. Don’t jump ahead. Go in order and I assure you things will start to turn in your favor. For this to work, you must routinely review your expenses to ensure you’re within reason (looking at you massive car loan and monstrous mortgage). You’ll see me list streaming subscriptions here in the budget because they have replaced cable and don’t wreck budgets in cases where income > expenses. If you don’t scrutinize that first block, this system becomes an enabler. But if you do, you position yourself to be highly intentional with your money and build a bridge to wealth. You start accomplishing amazing things. 👉🏽 I share budget walk-throughs every Wednesday showcasing the 8-Part Budget™️. REAL numbers from REAL people. See you there 🖤 Rooting for you, Rachel budgeting for beginners | budget planner | how to budget | personal finance | saving | investing | financial independence retire early

Your budget needs these 8 sections, in order👇🏽 1. Expenses: fixed and variable (fixed are bills/those with a due date and variable are those that change month to month like groceries and dining out) 2. Emergency Fund Contribution 3. Extra debt payments: crush high-interest debt as fast as you can 4. Investing 5. Saving (4 & 5 may flip from time to time and that’s okay) 6. Investing for your family/Giving 7. Fulfillment Portfolio™️ at the family level (date night, renovating the kitchen) 8. Fulfillment Portfolio™️ at the individual level (hobbies, gifts for friends, etc.) —————- Budgeting should not involve guesswork. The 8-Part Budget™️ is comprehensive, value-based budgeting done RIGHT. I have this system to thank for taking us from negative 5-figure net worths to being on track to retire by 45. And you can do it, too! #budgettemplate #budgetspreadsheet #budgetingforbeginners #budgetingisfun #wealthplanner #wealthbuilding #financialindependenceretireearly #familyfinance #momswhobudget