Personal Archives - Rae Michelle Planners

🚨 New series alert! I’ve been doing budget w

🚨 New series alert!

I’ve been doing budget walk-throughs for over 3 years now, but I want to bring them to you consistently and with a specific mission.

Every Wednesday, I’ll be sharing a real person’s (or couple’s) roadmap to retirement using my framework - the 8-Part Budget™️.

This first one is going to be LIVE here on Insta 🤩

Following the live, the full recording will be uploaded to my feed (assuming no tech issues).

If you want to be sure you catch ALL of these walkthroughs start to finish, subscribe to my red play button channel (same handle) and tap the 🔔 to get notified when I release a vid 😊

👉🏽 Want to apply to be featured in this new series? DM me the word “feature” and I’ll send over the link!

I LOVE doing these budget demos and I LOVE even more that I no longer have to try to squeeze the full walk-throughs into 90 second videos 🤣

✍🏽 Join me during lunchtime on Wednesday!

🤔 What’s a high-yield savings account? HYSAs

🤔 What’s a high-yield savings account?

HYSAs offer higher interest than traditional savings accounts. This is because HYSAs are typically offered by online banks with lower overhead costs than brick-and-mortar ones. They can afford to pay you more for the money you stage with them 😃

@ally is my top recommendation for a HYSA.

I’ve banked with them myself for over 4 years now and I have only good things to say.

They have a “buckets” feature built in. 🥲 Buckets help tremendously with organization.

HYSAs are also great because they ensure you don’t have instant access to savings. Transfers back to checking tend to take 2-3 business days, so you’re less likely to move money back and forth frequently/lose sight of savings goals.

The interest I mentioned earlier is called APY: annual percentage yield. I like to call this “amount paid to YOU.” 5% is a competitive APY right now for HYSAs. (My traditional savings account’s interest rate is 0.1% to help illustrate the difference!)

😣 $10,000 in a traditional acct = $10 earned in interest after 1 year
🤩 $10,000 in a HYSA at 5% APY = $500 earned in interest after 1 year

Other buckets you might set up:
🪣 Home maintenance (if you own a home)
🪣 Back to school
🪣 Birthdays/anniversaries
🪣 Medical
🪣 Family fun

Any anticipated expenses you’d like to gradually save for are an excellent fit for a savings bucket. 😊

👉🏽 Follow @raemichelleplanners for personal and family finance education, encouragement and tools!
🙌🏽 Share with a friend who needs to open a HYSA!

Money management for couples ❤️ This model ha

Money management for couples ❤️

This model has been the best of both worlds for us.

We’ve budgeted this way since we got married (over 7 years now) and we have yet to fight about money. Even through multiple career and income changes, this budgeting approach has been a reliable constant.

Here are some things to love about it:
👉🏽 It takes the spotlight off of income. Under this model, more pay doesn’t mean more say. It’s a team effort.
👉🏽 Both joint and individual goals get attention. There are some things we fully agree on: wanting to retire early, wanting to make memories with the kids by taking vacations and doing weekend activities as a family - these are joint goals. But we do not agree on more personal spending decisions (such as my complete obsession with organization items and my husband’s inclination to upgrade tech constantly 😂). When I wanted to start my online business, I didn’t think it was appropriate to put joint dollars towards it. I used personal spending money to invest in subscriptions and services to help get me started.
👉🏽 Personal spending is always equal. And it’s not under scrutiny because the purchases don’t occur within joint checking.

Discussing our individual “wish lists” during money meetings helps me align the personal spending amount in the budget to our current interests/pursuits.

I never want my husband or myself or both of us to feel completely deprived because we have a budget. Our budget is a reflection of who we are and what we value.

What’s the approach in your home? 😃

Flipping budgeting on its head. No more one thin

Flipping budgeting on its head.

No more one thing at a time. My money can multi-task.

No more deprivation-led teachings. Restriction breeds resentment. I prefer alignment.

No more sabotaging financial intimacy with my spouse because society assumes only 2 possible (and permanent) classifications for a person - saver or spender. Frankly, there’d be more happy millionaires if we encouraged savvy ways to be both.

•••••

If you earn above $100K either individually or as a household, traditional budgeting methods & guidance will never be comprehensive enough for you.

They say budget to cut.

You can budget to BUILD.

They give you 4 destinations for your money: bills, saving, debt and spending, and they exclude any explanation of priority among them.

You need twice that many sections and you need them already in order so you can cut the guesswork out of the process.

The 8-Part Budget will take you from financial chaos to clarity.

And it’ll do it with elegance.

Join me in becoming a happy millionaire!

🖤 Hardcover wealth planners available now 🖤

Cooking up a 3-day IG Live challenge on this 🤫

Cooking up a 3-day IG Live challenge on this 🤫

Stay tuned.

What’s the main difference between the 2 templat

What’s the main difference between the 2 templates?

One word: automation

The Mosaic Wealth Planner for Google Sheets allows you to drop all of your numbers on one setup tab, and the spreadsheet does the heavy lifting.

List your monthly bills, variable spending estimates, irregular subscriptions, automatic saving/investing, bi-weekly mortgage payments, and up to 3 additional income lines (can be weekly, bi-weekly, semi-monthly, or monthly), and you’ll enjoy a full year of
🔹dated money calendars
🔹budgets based on when you’re paid with block 1 (expenses) pre-filled
🔹expense trackers for every budget

as well as
🔹a detailed retirement planning tab that will produce a visual timeline towards your goal - taking into account anticipated spending in retirement, inflation, and estimated annual return
🔹an annual dashboard with charts and summaries related to income, investing, savings, debt payoff, and even spending by category (category charts are not built into the 8-Part Budget template)
🔹a savings bucket tracker on its own tab (this tracker is part of the annual dashboard tab in the 8-Part Budget template)

••••••••

Because of the MWP’s automatic budget-building capabilities, your time spent organizing your finances is drastically decreased.

My budget now takes me 3-5 minutes to build.

Updating spending takes me 2 minutes per day.

Savings bucket balances are automatically updated, and I used to spend 10-20 minutes every week trying to keep these current.

👉🏽 But here’s my disclaimer:
If you’re not typically a spreadsheet user, the MWP may feel a bit overwhelming. It’s highly integrated and is powered by over 1,000 formulas.

I’d recommend those who want a more hands-on, manual experience to pursue the 8-Part Budget Template.

👛 FAQs:
Q: Can I use either of these in Microsoft Excel?
A: These products have not been tested in Excel, so I only market these as Google Sheet templates. You may lose some functionality if you choose to use the spreadsheets in Excel.

Q: What if I need help?
A: There’s a maintenance/support booking link on the readme tab that will allow contact-free (if you’d prefer) assistance.

Drop any other questions in the comments!

Very wealthy, very demure 💅🏽 She’s almost

Very wealthy, very demure 💅🏽

She’s almost here…
🖤 vegan leather
🖤 silver foil stamping
🖤 approachable, intuitive templates

See how she’s subtle but has it all?

Coming Fri, Aug 30 at 8am Eastern!

Honorable mention goes to… The 12 wealth mindse

Honorable mention goes to…

The 12 wealth mindset journal prompts 🥲

What’s your favorite? 😃

••••••

There’s still time to pre-order!

👉🏽 Pre-orders close Wed, Aug 14 at 11:59pm EDT.

🎁 Snag one before official launch so you can get a BONUS gift: a 2-part meal planner/grocery list notepad!

Planners will ship starting Aug 30!

Comment “preorder” and I’ll send you the link to pick your favorite design & check out with ease 😍

Copyright © 2024 Rae Michelle Planners · Theme by 17th Avenue