Money Musings 💭 Follow along my summer travel journey ✈️
I have had a long-time dream of living and working from a new place each year and I’m excited to report that this summer we’re kicking off the tradition!
We’re going to be living and working in Spain for a month. 🤩🤩
I shared a bit about why I want to do this and how it’s even possible here and I’m so excited to take you along for the journey.
For the next couple of months (starting next week) you’ll find a new 'My Travel Journey' section in this newsletter where I’ll be sharing the money savvy travel tips and pointers I learn and experience along the way. 🧳
We’ll also be kicking off a 'Money Savvy Travel Money Moves Series' later in May.
In a recent survey on the Fiscal Femme Instagram, 59% of you shared that you are planning a longer vacation, 11% are planning a weekend trip, and 20% of you want to be planning a trip, so I know this information is relevant right now!
When looking to save money while traveling, being clear about what’s important to you about the trip is a game changer. Use this lens to look at the trip more broadly but also specifically for what you’re booking or paying for at the moment.
That way you can prioritize (and spend money on) what’s important while letting go of things that don’t add much value to you. It’s very personal.
When you’re traveling with friends and booking things together, it’s important to include them in the conversation.
Before we head to Spain, we’re going to spend some time with dear friends in Portugal.
We hopped on a quick call before we booked our house together to talk about what was most important to us specifically about the house.
Here are some of the priorities that came up. Not one of these priorities was important to everyone. It was pretty split.
Some of us wanted to be in the same house because all together because we thought that meant we’d get more quality time as a group
Some placed a higher priority on price
Some wanted to be near the beach
Some wanted the house to have AC
We were able to find a house that was a nice balance of these priorities so everyone is happy. Without that conversation it wouldn’t have been possible.
Excited to continue this conversation! ↩️ Hit reply and let me know what you’re planning and booking. I love to hear it!
MONEY MOVE OF THE WEEK
PAY DOWN DEBT SERIES: STEP #4 - DECIDE HOW MUCH.
Ideally, if you are paying down credit card debt, you will stop using your credit cards so you can clearly see the progress you’re making. 💳
If you want to continue to use a credit card, I recommend using a separate one, if possible. That way, you can make sure to pay off your balance each month for new expenses.
So how do you decide how much can go towards your debt? 💵
Take a look at your debt tracker. What are your total minimum monthly payments on all debt? Plug that into your budget or financial plan.
Is there room to increase your payment? If so, how much and what changes would you need to make?
If you aren’t sure about the answers to these questions, you’re not alone. I’m excited to introduce you to your new best friend - the cash tracker. It’s a way to track your cash, down to the dollar so you know what’s available to put toward your debt.
Start with what’s currently in your bank account and map out your expenses day by day. Adjust as you go.
Once you figure out that number you have your debt recipe.
Pay the minimums and monthly payments on each piece of debt, if possible.
Any additional amount per month goes toward debt priority #1.
P.S. If you missed steps 1-3, you can check them out, here, here and here.
YOU GOTTA SEE THIS
BIRTHDAY FREEBIES!
Friday is my birthday 🥳 and in honor of that, I thought I’d share some of the birthday freebies you can get on your birthday.
If you love any of these items or are a frequent shopper, you might as well get them for free!
Purely Juiced - Free smoothie (it’s in Hoboken but check out your local smoothie place!)
Krispy Kreme - Free donut and coffee during your birthday month
Ulta - Free beauty gift
Pinkberry - Free small frozen yogurt with toppings
Sephora - A free beauty gift
Caribou - A free beverage on birthday week
Starbucks - Free birthday drink
Haagen Dazs - Free ice cream
Crumble Cookies - Free cookie
Dunkin’ Donuts - Free beverage
Panera - Free pastry or sweet
Firehouse - Free medium sub
Nothing Bundt Cakes - Free Bundtlet
Au Bon Pan - Free lunch
Check out this list of more birthday freebies and details!
your weekly money wins
Here are all the amazing money moves you made this week 👏👏👏
Coco A: I saw the cash in my bank account was getting lower than I'd like so my finger went straight to the "transfer from savings" button. But I said NO WAY MA'AM, took some breaths, and reminded myself why I'm saving this money
Sharon F: Transferred one of my savings accounts from a HY account to a CD for a higher interest rate to accelerate the growth
Valerie P: My husband and I each started our Roth IRAs and began funding them via direct deposit!
Tiffany: Called 3 doctor's offices and my insurance to confirm surgery all in network so no over billing
Nicole G: Spoke to a realtor today about purchasing my next investment property
Abbie M: Just opened my IRA!!
Dezana C: When I got my salary I moved half of it to savings. Working towards my emergency fund
Ay N: Invested $500 to my Roth IRA for the 4th month in a row!
Harriet: I'm eating at home tonight
Lisa V: Opened a UTMA and 529 for the kids!
Danielle N: Finally moved our emergency savings to a high yield account!
Tiffany X: I got a good raise from work!
Rachel E: Gave myself permission to actually spend the money that I set aside for splurging
Ann H: We stopped buying bananas since the building I work in gives our unlimited daily bananas
Melissa K: I finished the process for supplemental disability and now I'm covered!
Stephanie M: Paid off our car early and started our newborn's 529!