Budgets with Kyle @budgetswithkyle

Cheapest Car Maintenance and Repair Costs by Brand (1-5 Year Cost)/(6-10 Year Cost)/(Total Costs) Toyota - $685/$2290/$2975 Lincoln - $540/$2765/$3305 Buck - $650/$2705/$3355 Mazda - $910/$2500/$3410 Hyundai - $765/$2655/$3420 Ford - $735/$2715/$3450 See caption for the rest

-Open a 529 with Fidelity or Schwab -Target ETFs or Mutual Funds with +10% Avg. Return over 10 years, and expense ratios <1% -Deposit Monthly for the following: -New Born - $167 -3 Year Old - $242 -5 Year Old - $315 -This investment will grow to $100k by 18 years old

Subscription Creep - the act of paying for a load of subscriptions that you don’t use. The Cure: -Track the subscriptions you’re paying for in your budget -Cancel the ones you aren’t actively using every two months -It takes seconds to re-subscribe if you need to use it

According to Bankrate for US adults in 2023 : -36% have more credit card debt than emergency savings -57% are uncomfortable about current savings -66% would be worried about immediate living expenses with a job loss You are in control of your destiny Be different...start now

Financial Flight Plan - #8 - Maximize Investing💹 Clear runways now. Invest all budgeting surpluses maximizing retirement, fund 529s for kids college, invest in brokerage accounts, or save cash for investment real estate. Spend money the way you want...you've earned it

Financial Flight Plan - #7 - Asset Debt🚗 Pay off any vehicle/toy debt that is hanging around. Make interest work for you rather than against you. A paid off home is a blessing. I wouldn't feel rushed NOW if your mortgage rate is less than 5%. DO IT if it brings you peace.

Financial Flight Plan - #6 - Save 20% of Your Income For Retirement💹 Prioritization - Roth 401Ks, Roth IRAs, 401Ks, Brokerage Accounts, HSA's TIME is your friend...the earlier the better Target ETFs and Mutual Funds with high +10 year returns and expense ratios less than 1%

Financial Flight Plan - #5 - Save 4-6 Months of Needs💰 Fill up the remainder of your emergency fund so that you are more than prepared with what life sends your way. Hold this money in a high yield savings account (4-5% return), with a different bank...no temptation

Financial Flight Plan - #4 - Unsecured & High Interest Debt💳 IRS debt, credit card debt, student loans, medical debt, payday loans...start a small war with these items from lowest balance to highest balance. You will feel victorious once conquering each one💪

Financial Flight Plan - #3 - Save 1 Month of Needs💰 The start of your emergency fund - save one month of 50% of your income (Needs) This will provide peace of mind while focusing on Step #4 This is where we break the cycle of living paycheck to paycheck

Financial Flight Plan - #2 - Track Expenses and 50/30/20 Budgeting💵 Knowing what you spend your money on is half the battle...those pesky subscriptions Income = 50% Needs, 30% Wants, 20% Savings & Debt Use Budget Apps (YNAB), NOT spreadsheets or writing

Financial Flight Plan - #1 - Know Your Why?🤔 Reflect on: What are your dreams, goals, and objectives in life? Why does now feel like the time to focus? You must have a personal and intense "Why" to prioritize smart financial planning and decision-making

Introducing the Financial Flight Plan ✈️ - a blueprint to financial success ! 🌐 Navigate through savings, investments, and budgeting with ease. 📈 Ready to take off towards your financial goals? Buckle up and let's soar together! 🚀💰 Scroll to see plan

“I don’t want to pay for a budgeting app” YNAB is $99 annually or $14.99 monthly and comes with a 34 day free trial. A cheap price tag for clarity. According to YNAB: -$600 saved by second month -$6000 saved by first year Not a bad ROI 💰

We recommend using YNAB (You Need A Budget) for app-based budgeting. YNAB’s philosophy is different than most budgeting apps by only spending money that you have in your possession. Most apps plan for a perfect month of financial planning which we all know is rarely the case.

Tracking your spending effectively is the most important variable to a successful financial plan. Knowing what you spend your money on is half the battle. Get out of spreadsheets and tracking by writing - these take much more discipline and time than utilizing budgeting apps.