Here's an idea of how to split up your paycheck when you create your budget. Each of these buckets can also be assigned designated accounts. It's important to create an account structure that works best for you. For some buckets, you may choose to have more than one account or one account might be enough. Make sure you create a structure to track and manage them. Let's get into each one:
🗒️ BUCKET 1 - Day-to-day transactions & bill payments: This account is for your daily spending and paying bills including paying off debt.
💰 BUCKET 2 - Emergency savings: This would hold contributions you make over time to max out your emergency savings. If you have to tap into it, build it back into your budget to replenish it.
🔧 BUCKET 3 - Short-term cash savings (Sinking funds): This is for big expenses you know you have coming up, e.g., new tires on your car, a move, medical expenses, travel, etc.
🌇 BUCKET 4 - Retirement savings: Saving for your future self and living out your best life when you choose to retire.
🌟 BUCKET 5 - Other goals or investments: This includes non-retirement investing, saving for a home downpayment, saving to start a business, etc.
🎉 BUCKET 6 - Splurge and fun savings: Because it's okay to treat yourself and do fun stuff... as long as it's within reason in the context of your goals.
What do you currently have in place? What grouping of buckets do you find works best for you? SHARE IN THE COMMENTS! 💬💭
🌐 www.anthonydoty.com
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How to Gain Real Wealth & Peace of Mind 🌟 #shorts
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Budget friendly self care swaps! This is so needed for me today 🧘🏻♀️☕️🧖🏼♀️
🌐 www.anthonydoty.com
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If you HAD to pick one... which would it be?!
🌐 www.anthonydoty.com
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Hey, everyone! I want to share a personal story with you that taught me some important lessons about credit and financial management. 😬
Recently, I lost $23,000 in available credit overnight with the X1 Card. Waking up to find out that a massive portion of my credit limit had disappeared was a shock, to say the least! This sudden reduction really got me thinking about how credit limits can impact our financial health—especially when we least expect it.
💳 What Happened:
The X1 Card issuer decided to lower my limit without warning, likely due to changes in my credit score or spending patterns. While it didn’t leave me with a major financial issue, it did have an immediate impact on my credit utilization, which can affect my credit score if not managed properly.
⚠️ Why It Matters:
Credit limit reductions like this can catch you off guard, especially if you rely heavily on one card. It’s a reminder to always monitor your credit and be prepared for changes.
💡 What You Can Do to ...
Hey WealthWithDoty family, I wanted to share my incredible journey with you all. Before meeting Holly, I was struggling with multiple businesses and no clear direction. But thanks to her amazing coaching and the AIM methodology, I've transformed my approach and regained my focus.
Check out video here:
If you're feeling stuck or need guidance, I highly recommend connecting with Holly. She can make a real difference in your journey, just like she did in mine! 🙌
🔗 Connect with Holly > https://Links.Anthonydoty.com/s/Holly
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Which of these financial tips do you apply?
🌐 www.anthonydoty.com
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