Family Archives - Rae Michelle Planners

Everyone thinks they’ve figured out step 1 to co

Everyone thinks they’ve figured out step 1 to conquering their finances.

“Cut your credit cards!”
“Give every dollar a job!”
“Automate everything!”
“Stop spending money on dumb s**t!”

Well sure, those are actionable steps with good intentions at heart… but WHY do any of it? What’s the big picture here?

Your WHY will guide you as you experience the peaks and valleys of trying to break generational patterns/build wealth.

Smart money management isn’t easy. Things WILL happen unexpectedly and they’ll throw you off course. Your why will get you back on track to try again.

Take your time with defining it. A superficial, detached why won’t serve you during the budget blues. Example: “I’m behind; all my friends are so good with money so I need to catch up.” That’s not the kind of motivation that will stick.

But a why deeply rooted in you/your definition of fulfillment has the power to refuel you. “I want to teach financial literacy to my children and help them see the world.”

What’s your why?

#budgetingforbeginners #financeforwomen #financialpeace #budgetcoach #howtobudget #howtosavemoney #debtpayoffjourney #emergencyfund #savingforahouse #investingeducation #budgetplanner #budgetworkbook

I see this all the time. Aggressive investing is

I see this all the time.

Aggressive investing is fantastic - and it WILL move the needle long-term - but it’s not for everyone all the time.

Don’t press on the gas there until you have these 2 things:

A starter emergency fund (one month of core expenses saved) and zero high-interest debt - namely, credit cards.

***I make an exception in one case. If your employer offers a match within your 401(k), invest up to that amount. Do it. That is part of your compensation package and miss ma’am we are crossing that and dotting that i. 💁🏽‍♀️***

No aspect of your finances operates in a vacuum. Your finances are a landscape, and you need to see everything every time you budget.

The 8-Part Budget™️ is my custom template that already has the priorities in order for you. You don’t have to guess at what you should be doing next.

Grab a Beautiful Budget Workbook via my Instagram shop or the link in my bio so you can get started today.

Want to see a budget walk-through using the workbook? Check out my latest TT!

#beautifulbudgetworkbook #budgetplanner #financegoals #budgetcoach #plannerjunkie #budgetworkbook #paychecktopaycheck #moneymanagementtips #smartmoneyconcepts #familyfinance #couplefinances

Hubby funds gon’ hubby fund 🤣 When I call hi

Hubby funds gon’ hubby fund 🤣

When I call him over to look at our budget, this is the only line item he looks for. 🙄😂

What’s the expensive hobby in your household??

#marriagehumor #budgetplanner #hisandhers #financehumor #moneygoals

Gamechanger! SAVE and SHARE! 💛 I used to Goog

Gamechanger!

SAVE and SHARE! 💛

I used to Google and pull up a fresh online debt payoff calculator when I wanted to find my debt freedom date or if I wanted to see the impact of an extra payment. I would get so frustrated entering everything back in and while some calculators were fine, I haven’t found anything as robust as powerpay.

Shout out to the brilliant minds at Utah State who built this platform and continue to make it better!

My top recommendation for paying off debt is to follow the debt avalanche method. With this approach, you tackle your debts from highest interest rate to lowest interest rate. So month to month you pay your minimums on everything of course 😅, and anything extra you can throw towards debt goes to the one with the highest interest. Credit cards will cripple you if you don’t stay on top of them, and even a small extra payment per month goes a LONG way.

Had you heard of this tool before?

I teach PowerPay and budgeting in greater depth in my memberships, and you can become a member when you purchase a Beautiful Budget Workbook 😃 It’s the only budget planner + membership duo designed to help you save, crush debt, and build wealth while still leading a life you love. Link in bio to get started!

#debtpayoffjourney #creditcardpayoff #powerpay #creditcarddebt #greenscreen

Budgeting isn’t sexy. But the results are. Eee

Okay but she’s killing it!⁣ ⁣ She currently

Okay but she’s killing it!⁣
⁣
She currently has her paycheck auto-contributed in the following way:⁣
65% to checking⁣
15% to emergency fund⁣
20% to savings⁣
⁣
I recommend sending 100% of her paycheck to checking. She has a healthy EF and her savings schedule will change over time based on her goals, side hustle income, overtime, etc.⁣
⁣
👉🏽 You should always budget based on when you’re paid! I show full month budgets in my walkthroughs simply for greater illustration of progress over time. She should break this up into Oct 31st-Nov 14th and Nov 15th-30th.⁣
⁣
Anticipating these questions:⁣
🔸Rent $800?!⁣
🔹I’m almost certain she lives with a roommate! I didn’t clarify but that appears to be a partial payment. ⁣
⁣
🔸What worksheet is this?⁣
🔹This is a 2-page spread pulled from the new watercolor floral Beautiful Budget Workbook. Check out link in bio to learn more and grab yours!⁣
⁣
🔸Why do you have 401k under investing? Didn’t that already come out of her paycheck?⁣
🔹I manually added her contributions back into her income so that I could see them in the investing section. This gives her a more comprehensive view of her investing!⁣
⁣
🔸How would someone organize all those savings?⁣
🔹I recommend a high yield savings account with some sort of buckets feature built in. @ally has a fantastic one. (She already has an Ally account 🥲)⁣
⁣
Let’s chat in the comments! As always, be kind!

You knew this was coming. 😁 The budgeting me

You knew this was coming.

😁

The budgeting method that changed my life: The 8-Part Budget™️

A prioritized list of 8 areas of your finances that allows you to direct your money in a winning order every single time you get paid.

The template includes:
- Expenses (bills, minimum debt payments, variable spending like food)
- Emergency Fund contribution
- Extra debt payments
- Investing
- Saving
- Giving/Family investing (e.g. 529 for child)
- Fulfillment Portfolio™️ for the family (things ALL parties prioritize and enjoy)
- Fulfillment Portfolio on an individual level

This budgeting approach helped me lead my family in paying off $74K in debt, investing $125,000, and paying cash for a wedding, honeymoon, and 2 vacations to Europe - all in 3.5 years. I believe so much in the framework that I built a workbook around it. The Beautiful Budget Workbook is linked in my bio!

The 8PB cuts out the guesswork of what to do next with your money.

It propels you towards meeting your financial goals.

It’s zero-based, so you give every single dollar a job.

It’s great for beginners and seasoned budgeters alike.

Link in bio to check out the multiple versions of the BB Workbook as well as the bonuses that come with every purchase!

P.S. You made it this far in the caption so you’re itching to try something new or get started altogether…take advantage of the BB Workbook’s 30-day money back guarantee. We are revolutionizing the way women manage money!

See you for part 5! 💗

build my beautiful budget ☺️ This is a one mo

build my beautiful budget ☺️

This is a one month budget.

Income
🔹She’s paid monthly, he’s paid bi-weekly. I would recommend budgeting bi-weekly as a result. (I show full months to better illustrate progress over time.)
🔹You’re seeing their take home pay plus her 401k contributions added back in.
🔹They also receive $1,200-$2,000 commission checks at the end of the month. I didn’t include that here, but I would put that towards their final cc assuming interest is going to kick in in the next 6 months.

Debt
🔸Two cards have 18%+ interest rates. Two have 0%. The higher rate cards have to go ASAP, so I recommend reducing their EF to one month of expenses to get to a better place overall. This allows them to crush their high interest debt entirely, in one go.

In the months following this budget, putting $1,000/month towards the EF would certainly be manageable, while also putting about $2,000/month towards their final card. Again, I’m assuming 0% interest isn’t going to last much longer. This gets them down to only low interest debt remaining after about 3 months (student and auto loans).

Once the final card is paid off, they can really press on the gas with investing/saving. Saving will be crucial so they don’t fall back into the habit of swiping their credit cards. There is so much that we CAN anticipate financially.

👉🏽 Workbook shown is the watercolor floral Beautiful Budget Workbook - linked in bio! It’s based on my signature framework, The 8-Part Budget™️, which prioritizes your financial areas FOR YOU. No need to guess where your money goes next.

Drop questions/feedback below, and as always, be kind!

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