…(read more)
LEARN MORE ABOUT: IRA Accounts
TRANSFER IRA TO GOLD: Gold IRA Account
TRANSFER IRA TO SILVER: Silver IRA Account
REVEALED: Best Gold Backed IRA
The end of the year is a great time to review your finances and make sure you’re on track to meet your financial goals. December is a great time to check in on your second paycheck of the month and make sure you’re making the most of it. Here are some tips to help you make the most of your December paycheck #2.
Savings Balances:
Take a look at your savings balances and make sure you’re on track to reach your financial goals. Consider setting up automatic transfers from your paycheck to your savings accounts to help you reach your goals faster. You can also adjust the amount you’re saving each month to ensure that you’re meeting your goals.
Roth IRA:
If you’re eligible, consider contributing to a Roth IRA with your December paycheck #2. A Roth IRA can be a great way to save for retirement and the contributions are tax-free. You can also withdraw your contributions at any time without penalty, making it a great way to save for the future.
Emergency Fund:
Having an emergency fund is an important part of financial planning. Consider setting aside a portion of your December paycheck #2 to help build up your emergency fund. Having an emergency fund can help you cover unexpected expenses and can help you avoid taking on debt.
By taking the time to review your finances and make sure you’re on track to meet your financial goals, you’ll be better prepared for the future. December paycheck #2 is a great time to check in on your savings balances, consider contributing to a Roth IRA, and build up your emergency fund. Taking the time to review your finances now can help you stay on track and reach your financial goals.
You are so detailed! I love it! You got this sweetheart and you are doing an awesome job! Just know that you are inspiring a whole lot of people!
Ok so I guess stuff like gas, groceries, Eating out come out of your ATM $$?
You don't break down the $840 you took from the ATM and to be honest with you, that seems like a lot of money to take out for a 2 week period. I live on approx. $300 to $350 a month after all my bills are paid so if you take out $840 every 2 weeks that $1,680. ?
I think you need to give yourself more credit. I think you’ve done an awesome job of saving. $10,000 in your emergency fund is something to be proud of. I struggle with spending too. I’m going to do my best to break that cycle in 2023. Happy New Year, Lisa!
Are you saving your IRA deposit for next year too, since the max even with catch up is only $7k?
Good video, this whole holiday has been one big LOW! It seems finding the Christmas spirit in my house was like Finding Waldo….
Got thru it, looking forward to a better 2023. Putting myself first as being on the back burner for so long, you truly get burned out. Thank you so much for your transparency, and I wish you a very prosperous 2023.
Thank you sharing. Being honest with yourself is the biggest part of holding yourself accountable.
I can't remember now…what did you do with the 100 envelope savings challenge money?
Do an order pickup for your grocery at Walmart. I find that not going into the store helps to keep me on budget.
My problem is eating out. I don’t crave it but I’m always starving after work and drive past quite a few places on the way home so I stop everyday and it has been an issue for months.
I can empathize with your spending issues. Good for you for canceling your Amazon orders!! My low….I purchased some yarn I really didn't need this week (as I am sure I own enough to allow me to crochet for the entire year of 2023 without running out). My high….I am setting up my budget binder and preparing for a no spend/low spend 2023. I like your idea of not waiting for January 1st to start. TFS.
Lisa you seem to have everything under control right now. The only thing that I do different is that I don't zero out my checking account! But I, also, let it get much over $100.00 either. That money is part of my back-up money for electric and/or water bills.
Is it Jordan budgets?
❤ such an inspiration. I told you that the last time I commented I started my no bye the day before Christmas to control my spending.
I love your videos but I really hope you increase retirement savings or you’ll be working forever
Great job!
Hi Lisa love your channel so honest and realistic compared to many.
Do you have a buffer in your checking account?
I know you stated you don’t have anything else coming out of your account but it’s always a good idea to keep a small amount in there in case some odd thing goes through and you’re not charged for your account being delinquent with overdraft fees.
I definitely enjoying this channel because I relate you you and your goals. Keep up the videos.
So glad you're back, Lisa!
High point: I got all the 2022 income tax preparation done (I'm doing them myself this year). Low point: I had to pay off the Amazon balance (over $1000) from savings.
Lisa, so good to see you back regularly. You are doing great! I share your spending challenges and you give me great motivation and courage.
Stay accountable but try not to be too hard on yourself.
Hi Lisa ! The woman that does the high and llow is Jamie's Journey
You did a great job by canceling those orders.
I second the Ally savings account for your Emergency fund. It is currently yielding 3.3%.
You're human and will make mistakes- it's okay! You recognize it and making corrections. You got this
Yay for you for returning the Amazon purchase! My high…not going over what we saved for Christmas! My low…not sticking to our meal plan as we finished up our shopping.
Lisa is your emergency fund in a High Yield Interest Savings Account? I highly recommend Ally, if you don’t have it.
My high for the week is zero purchases. Yay, Me! Happy Holidays. Good luck
The idea for the weekly low and high came from Jamie Johansson on YouTube.
https://youtube.com/@JamieJohansson
I admire your honesty. I think we can all resonate with what you’re going through. I think your no spending will get easier as the months go by. I’ll be watching and I’m pulling for you.
I'm loving the check-in. WE ALL make mistakes & we just have to learn from them. I learned my lesson A LONG time ago when it came to debt. I use to carry credit card balances and pay interest. When my husband told me we could go on our annual anniversary trip or pay off my debt so I could go to school, well that sent a shock through my system. We decided to pay off the debt & I was so sad we didn't get to go on our trip. That was almost 19 years ago (our 6th wedding anniversary in 2004) & I haven't paid interest on my credit cards since. Lesson learned!!