Content Stats & Analytics for @organized.finance

organized finance | personal finance enthusiast
@organized.finance

57,832 followers

⬇️ What this budget does well First off...thanks to @organized.finance for sharing her salary and budget info! If you don’t follow her already, you need to check out her account for some great budgeting tips & thoughtful conversations about money. When it comes to this budget, there’s not much that I would change! Here’s what it does well: ✨ Maxing out 401K contributions to reach the 2023 limit of $22,500. Between the pre-tax and Roth 401K contributions, she’ll reach the annual contribution limit by the end of the year. Deciding whether to contribute to a pre-tax or Roth (post-tax) 401K will depend on if you want to reduce your taxable income, or maximize tax-free growth in the future. ✨ It’s great to see the savings goal toward a down payment! Alongside this savings goal, we should make sure to have an emergency savings fund to cover 4-6 months of expenses. (which she does!) ✨ Keeping large expenses low (like rent, and avoiding high-interest debt). While it’s not always possible to minimize expenses like rent or car payments, saving a few hundred dollars a month on rent adds up significantly throughout the year! ✨ Investing extra savings in a retirement account and brokerage account. Even starting out small with $100/month (or less) is a great! Focus on investing in low-cost index funds. ✨ Including space for fun activities and travel! Comment “CHECKUP” and I’ll DM you a free download of the budget template I used in this video! #budgeting #debtfreecommunity #budget #financialfreedom #personalfinance #debtfreejourney #debtfree #money #finance #financialliteracy #financialindependence #budgetingtips #savingmoney #debtfreeliving #budgeting #personalfinance #debtfreegoals #debt #savings #investing #savemoney #financialplanning #frugalliving #budgetlife #moneytips #financialgoals #budgetplanner #debtfreedom #financetips #frugal