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We're on day five of our budget school, and today, we're talking all about savings, emergency funds, and investments. Here are some episode highlights:

Savings 101: Savings is the part of your budget that's not being spent for right now. It's money set aside for the future. We want to help you be prepared for life's expected expenses.

Emergency Fund: Start with a mini emergency fund, like $1,000, which can vary depending on your family size and comfort level. The goal is to have 3-6 months' worth of living expenses set aside in a dedicated account.

Investments: Investing is a crucial part of financial planning. Aim to save at least 15% of your income for investments, but adjust based on your goals and financial situation.

Budgeting for Savings: Create savings buckets for annual or irregular expenses like Christmas, birthdays, and car maintenance. Calculate how much you need for these expenses annually and divide it by 12 to budget monthly.

Becoming Your Own Bank: The goal is to rely on your savings and investments rather than credit in emergencies. This financial freedom comes from careful planning and dedication.

Action Steps:

1. Identify where you are in your financial journey: emergency fund, debt payoff, savings buckets, or investments.

2. Start funding your financial goals with each paycheck. Consistency is key.

3. Prioritize building your emergency fund before diving into investments.

4. Set up savings buckets for expected expenses, so you're prepared when they come up.

5. Invest regularly to secure your financial future.

Connect With Us:

1️⃣ Facebook Group – Join the community. Our free group is where the real talk happens. Connect with other women who are learning how to budget, save, and finally feel in control, together. ➡︎ budgetbesties.com/facebook

2️⃣ Automate Your Budget Masterclass – Watch it now, no waiting. This FREE on-demand training shows you how to set up a budget that matches your lifestyle, without tracking every dollar or feeling restricted. ➡︎ budgetbesties.com/automate

3️⃣ Budget – Grab our Simplified Budget System! You don’t need another budget, you need a system that does the math, makes the plan, and gives you permission to spend. ➡︎ budgetbesties.com/budget

4️⃣ Private 1-on-1 Coaching – Get a plan and a coach. We’ll build your full budget system together, so you always know what to do and feel confident doing it. ➡︎ budgetbesties.com/coaching

5️⃣ Be on the Podcast – Free coaching, real convo. Come chat with us on the show! Get real-time financial coaching and help other women by sharing your story. ➡︎ budgetbesties.com/livecall

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144 | Budget School Series (Pt. 5): Saving Money 101 plus Building Emergency Funds & Investing Wisely

Financial Coaching for Women: How To Budget, Manage Money, Pay Off Debt, Save Money, Paycheck Plans

144 | Budget School Series (Pt. 5): Saving Money 101 plus Building Emergency Funds & Investing Wisely