In this episode, Mills recaps the development of your 2022 money plan. After touching on those basic fundamentals we dive into the principles and techniques necessary to stick with that plan throughout the year.
Mills covers the basics of establishing and controlling your fixed expenses using autopay to ensure you never have late payments. Next we explore the importance of identifying your savings goals such as an emergency fund or house savings and learn to treat those the same as your bills that are on autopay. By doing this you will begin to form a savings habit that will serve you for years to come.
Next Mills covers the importance of Identifying clear savings goals and developing distinct accounts for each goal so that your money is not mixing between different categories of savings.
Lastly we learn how to use unique financial tools like savings “buckets” to sustain savings and curb spending on variably priced bills or expenses throughout the year. The end goal of all of this preparation is to develop a financial plan that is as automated as possible, leaving you time to focus on what really matters!
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