Want to simplify your budget?
We use a simple 3-bucket system:
1. Bills + Needs
2. Goals
3. Fun Money
Want to learn how to set this up?
Iβm breaking it all down in tomorrowβs On The Money newsletter.
Subscribe here π
@drwcrts.bsky.social
Financial coach and mortgage loan officer helping people get their money right
Want to simplify your budget?
We use a simple 3-bucket system:
1. Bills + Needs
2. Goals
3. Fun Money
Want to learn how to set this up?
Iβm breaking it all down in tomorrowβs On The Money newsletter.
Subscribe here π
The more automated your finances, the less you rely on willpower.
27.05.2025 16:23 β π 0 π 0 π¬ 0 π 0You're not overspending. You're spending without clarity.
20.05.2025 00:52 β π 0 π 0 π¬ 0 π 0If budgeting feels like punishment, youβre doing it wrong.
π« Budgeting = No fun
β
Budgeting = Saying yes to what matters most
Every day I talk to people who make good money but still feel broke.
Why?
- Theyβre avoiding debt
- Donβt know what theyβre spending
- Or wildest of all β they donβt know how much they make
A little awareness goes a long way when it comes to taking control of your money.
When the basics are automated and on track, you can finally start thinking bigger.
And thatβs where the real progress happens.
Instead of stressing over every transaction, you can focus on questions like:
π What are your long-term goals?
π Where do you want to be in 1, 5, 10 years?
π How can you grow your income?
The best financial plans are the ones you can set and forget.
When your system runs in the background, you free up mental space for the big picture.
π§΅
β
Balances: Assets, investments, savings & debts
β
Payment calendar: Income + recurring expenses w/ due dates
β
Budget by category
Update it monthly and youβll always know where you stand financially.
A personal finance dashboard is one of the best ways to stay organized and in control of your money.
It doesnβt have to be fancy or complicated, just consistent and clear.
Hereβs what to include π
It doesnβt matter how you do it, just make sure youβre saving and investing.
β¨Your future self will thank you π
2οΈβ£ Automatic transfer from checking
Set up an automatic transfer from checking to savings a few days after payday.
β¨Itβs easy to do and still builds the habit, just donβt skip it when things get tight.
1οΈβ£ Direct deposit to savingsβ¨
If possible, set up a direct deposit for part of your paycheck to go directly to your savings account.
Youβll never see it in checking, out of sight, out of mind (in a good way).
Want to reach your financial goals and actually retire one day?
β¨Prioritize saving and investing.
β¨The key: automate it so you donβt have to think about it.
Here are the easiest ways to automate your savings:
π§΅
Thatβs it.β¨
Simple. Clear. Organized.β¨
Donβt overcomplicate your finances, clarity leads to confidence.
3οΈβ£ Credit Card
β¨Use for everyday spending and bills.β¨
Pay it off in full every month.β¨
Builds credit + can earn rewards if used responsibly.
2οΈβ£ High-Yield Savingsβ¨
Keep your emergency fund + short/medium-term goals here.β¨
Track your βbucketsβ manually or use separate savings accounts.
1οΈβ£ Checking account
β¨All income goes here.β¨
Use it to pay bills that must be paid with cash (like rent, if needed).
Want a simpler money system?
You really only need 3 accounts. π
π§΅
Most people donβt need a financial advisor to manage their investments.
Their fees can eat into your returns and they often underperform simple strategies like total market index funds or target date funds.
If you want help, look for a fee-only advisor, not one earning commissions.
Worried about all the market volatility right now?
Zoom out.
The market can swing wildly day to day, but if youβre in it for the long haul, stick to the plan, stay consistent, and let time do the work.
Stay calm, zoom out, and relax π
Traditional vs. Roth (401k or IRA):
π Traditional = Contribute pre-tax β Pay taxes when you withdraw
π Roth = Contribute after-tax β Withdraw tax-free in retirement
Both have pros and cons. I like using a mix to get the best of both.
How much do you need to retire?
It depends.
β¨β³ When do you want to stop working?
β¨ποΈ What kind of lifestyle do you want?
Thereβs no one-size-fits-all answer, but the earlier you start saving and investing, the easier that future becomes π
The best time to start saving for retirement?
Your very first paycheck.
The next best time to start saving for retirement?
Now!
One of the biggest investing mistakes? Depositing money into an account but not actually investing it.
Opening an account is step one. Choosing investments is step two.
Make sure your money is working for you so you donβt miss out on compound growth! π
π One of the best-kept secrets in retirement planning? The HSA (Health Savings Account).
β
Contributions = tax-freeβ¨β
Growth = tax-freeβ¨β
Withdrawals = tax-free (after 65)
Only available with a high-deductible health plan (HDHP), but a great way to invest more & pay less tax!
Ready to invest? Hereβs where to start:
1οΈβ£ Contribute to your 401(k)/403(b) up to the employer match (free money!)β¨2οΈβ£ Max out a Roth IRAβ¨3οΈβ£ Max your 401(k)β¨4οΈβ£ Invest in a brokerage account
π‘ Use a target-date fund or low-cost index funds. Stick to this, and youβre on the right track!
Itβs never too early to start investing, even if itβs just small amounts.
π° Low income? Invest.
π³ Have debt? Invest.
π§βπ Too young? Nope - invest.
Once you see how fast it grows youβll wish you started sooner.
Saving alone wonβt make you rich, you have to invest.
Start early, keep it simple and stay consistent.
The best time to start was yesterday.
The next best time? Today!
The best way to split expenses as a couple (if you havenβt combined finances) depends on income.
β¨π° If incomes are similar β 50/50 split works.
β¨π If one earns more β split based on % of income.
Know your numbers, have the convo, and figure out what works for both of you π€