It’s easy to take your money!
3 ways to stop losing your money in 2023.
Think about it, you are destined to fail when it comes to self-control around spending your money in the modern world. You are up against $250 billion dollars of marketing dollars in the US, designed solely to get your money out of your wallet. So how do you protect yourself, and keep on track with your savings goals? Here are 3 things to do now!
Unsubscribe to push marketing: Unsubscribe to all marking emails for all (yes all) app and company emails and notifications. If you don't feel you need something without the marketing, then guess what … you don't need it. (Just don’t unsubscribe to my push marketing :)
Protect your web searches: Buy a VPN service to protect your internet searches and avoid getting tailored marketing directed at you. This is not only good for your overall security, but also keeps big brother out of your pocket. Proton VPN is the one we use.
Update your budget: Every dollar you make has a job to do once it hits your hand: To keep you alive (Core Budget), To safeguard your future (Savings), and to keep you entertained (disposable income). Spoiler alert - The disposable income should not make up the largest part of your budget. Here are several top things you should have built into your budget. I have to mention this because I know several friends who still don’t do this!!!
Fully fund your 401K for 2022. Make a plan to contribute $22,500 (the fed limit for contribution for 2023). $22,500 /24 = $937.50 each paycheck. If you can’t make this happen, you may want to rethink other spend in your budget that is taking away from this. This is really number one!
Make a grocery and eating out budget and STICK TO IT: For our family of 4 we spend 1,000 per month in Seoul, S. Korea. We even eat out from time to time. A great resource for planning is Budget Bytes.
Have a well-funded 2022!
Maggie
Recommended Reading: How to turn $100 into $1,000,000. Earn Invest Save. by James McKenna (Author), Jeannine Glista (Author), Matt Fontaine (Author). The target audience is kids, but really is a simple way understand the power and job of your money.
Budgeting 101: From Getting Out of Debt and Tracking Expenses to Setting Financial Goals and Building Your Savings, Your Essential Guide to Budgeting. By Michele Cagan
Find these for free from your public library or Libby.
Welcome to my blog. This is an account of our journey to FIWO (financially independent, work optional) and tips and hacks we have learned to get us there faster. If you just joined us, you may want to start from the first post on this journey: Is A Life Without a 9-5 Job Possible for Me
Photo by Katie Harp on Unsplash
