How I Budget for a New Month 💸 budget breakdown, sinking funds, financial goals etc 

This is so kind!! I have defintely struggled alot with finance content and my relationship with it because it's the videos of mine that do the best/bring new people to my channel but it's not who I am if that makes sense. Budgetting/finance is just a part of me!!

Amy this is so sweet!!!!! 🥹🫶🏻

This makes me so happy to hear! Sometimes it can be hard when a certain niche of your videos goes viral, for me It was personal finance because then some people just expect those types of videos but I feel like I'm such a multi facetted person, so it really makes me happy when people came for one kind of content but stuck around for the rest 🥹🫶🏻

thats such a good review of how impactful and inspiring these videos are 🥰

Yay! Thank you!

Honestly I pretty much already do no spend weeks since I work from home/don't leave the house most days of the week. I typically only end up spending 2 days a week (Friday night takeout, Saturday morning coffee) so I don't feel the need to do a complete no spend challenge right now or cut those 2 re-occuring expenses out! I defintely think they can be a fun way to challenge yourself if you feel as though you need the challenge or want to see if you can limit your spending but I'd say Mon-Fri I don't spend any money normally so I'm quite happy with that!

@@CarterSullivan makes so much sense. working from home during the week definitely limits the temptation to spend!

This is truly such a kind comment! I'm so glad that you feel supported when you do your finances and just hope that these videos feel like budgeting with a friend

Yeah, I'm defintely just trying to figure out if I wanna do a set money amount (10k for example) or a certain amount of months of expenses! I feel like six months seems to be a good amount!

Thank you! Will do- not much has changed in terms of my bank accounts, investments, credit cards etc but I will work on updating it!

I think its SO important to talk about!

You're the best!

Yay! Thank you!

Yep! I feel like we kind of all go through that phase of comparing with the other budget girls are doing. I think at one point I had about 15 steps to my money routine and never wanted to do it because it was so complicated. That's when I realized that finances something that you gotta stay in your own lane about and keep it so simple!!

It makes me so happy to see how much y'all enjoy them! I get so in my head about the budget content

⁠@@CarterSullivanplease don’t feel boring or repetitive. I put these on to have company while working or cooking.

More to come! 🥰🫶🏻

You got this!

Those are my thoughts exactly too now that we have an older home!

So happy for you!!

Were you scared to get off disability? What was the catalyst? My disability in 836$ a month. I know I could make more by working but im so scared to make that leap.

So glad you enjoyed!! 😊

Glad you enjoyed!!

Yay! Thank you!

Hi, welcome!!

Aw I love that!! Love Zoe 🥹🫶🏻

Love that for you!

Thank you for the kind words!

Love that! 🥰

What is Zoey RU-vid?

@@ShayJournii Zoe Pritchard!

Welcome!!🥰

You're welcome 😊

Oh thank you! 🥹

The instructions/setup that the owner of the spreadsheet provides are super helpful with this! I don't share any of my investment/savings details & we don't have any current debt to pay off so I probably wouldn't personally show the other spreadsheets!

NO one is perfect and it really is just about finding a balance of saving/spending!

I would definitely recommend reaching out to the seller on Etsy since it's not my budget spreadsheet! I honestly just followed the instructions on the budget spreadsheet and the set up page! Not too sure if I can create a video on how to set it up since I didn't create the spreadsheet :)

FUN FACT- matt and zoe went to high school together hahaha small world

Exactly!!

Nice!! I use Neo for all of my sinking funds and have my emergency fund through Wealthsimple😊

It's an iMac! And tbh I have no idea where the little stand is from- maybe Amazon but had it for awhile 😊

@@CarterSullivan thank you!!

I work in corporate health care! I was on the patient facing side for a few years and then switched over to the corporate 9 to 5 side at my hospital😊

Oohhh nice! I was looking into patient work. I’d like to do a part time job as well so I can focus on my businesses, any advice for that? Do you run like the business side of healthcare or are a patient advocate? Obviously be as vague as you need to be! I respect your privacy I’m just curious lol

@@jeslay I do HR & event coordination for a department in the hospital!

@@CarterSullivan you helped so much thank you so much!!!

Sinking funds are not really talked about a lot so honestly great question! They're basically just future expenses that you're putting money aside for. It's definitely one of those things that personal preference. Some people can have just like one savings account that they pull money from one expenses come up however, I'm a very visual person and I need things and like different savings buckets, so sinking funds work really well for me! Everyone can use sinking funds for different purposes, but it's basically just allocating money monthly for big expenses - maybe you're setting aside $100 a month for a trip, paying your car insurance, car repairs etc. I view it as saving for specific items where I can put small amounts aside monthly. So instead of getting hit with a $700 vet bill when Stella goes to get her vaccines yearly, I put aside $50/month that way when the time comes for her to get her yearly shots I already have the money saved and I don't have to think twice about it! Hopefully that kind of helps! I know some people also use it for like subscriptions if they pay for a subscription yearly and not monthly!

@@CarterSullivan okay yes this makes really good sense, I’ve thought about doing this but didn’t know there was a term for it. The main thing I’m wondering about is the logistics - like is this all in one savings account in your bank? Or are sinking funds set up through the bank and separate entities, like individual savings accounts?

@@shandisfancher8766 it really depends what you want to do! Some people just have one sinking fund account and track it on a spreadsheet to know how much they have in each category or some like me choose to have individual different savings accounts. Lots of banks in the US and Canada allow you to have "savings buckets" within an account!

@@CarterSullivani have never seen an option for different “saving buckets” within one account! i really want to do sinking funds but this has always stopped me!

@@amyworley6221 I think it's more of a thing in the US cause I seen a lot of finance creators in the states talk about it however, Neo, if you're in Canada does make it easy to open up these mini savings account with 4% interest!

Not anymore no! That's just because I round up a lot of my purchases to the nearest dollar when I'm tracking them and I don't track everything down to the cent anymore! Definitely just depends on where you are in your financial journey. I just don't feel the need to do that anymore 😊

SAME! I was told we'd be grandfathered in since we've been customers for years and then they turned around and said we weren't lol

Its linked right in the video descrption!

Wow that's awesome!

Yeah, we have a sinking fund set up for property taxes which is been really helpful to so we don't keep dipping into our savings every year!

Correct. We have a pet sinking fund for our dogs instead of pet insurance. Pet insurance here in Canada, specifically Ontario quoted us upwards of $400-$500/month for 2 dogs. Now that our second dog seems to be the vet frequenter we may consider insuring them both but we haven't found a plan we love yet so we're still shopping around! I'm definitely not against it but we haven't found a good affordable plan for both dogs yet so for now we just put away money monthly for them!

@@CarterSullivan yes, it wouldn’t be as much in America, probably $50 a month, but they make you jump through hoops to get reimbursed so the money is still coming out of my pocket up front. I was thinking of saving enough for routine check ups and then having a pet emergency fund. I appreciate your video!!

There's a button on the profile page to cancel it on the website! No I said in the video I had my annual hair appointment as well lol! But $70 of this was because of the prescription issue and my doctors office not faxing it over but luckily got reimbursed by insurance after filming this 😊

@@CarterSullivan oh okay I was going to say. I’ll have to check that out and see if I can somehow find it 😭 if so TIA!!!

Yep its pretty common in the healthcare system (in Canada at least) if our unions get us a raise we usually get it back paid! The amount of time varies sometimes its for a year or two!

@@CarterSullivanthat’s awesome. Sadly that is not the experience with American healthcare positions :(

Its crazy! My car insurance agent said he has barely seen anyone's insurance go down this year

I totally agree! It's easy to watch a budget video and think "wow they are good with their money" but that's not always how they were. It probably gets repetitive in every finance video but its so important to discuss IMO since there's always new people here (and totally understand those who don't feel comfortable talking about it). But I was not able to overcome my spending problems until I figured out the root cause of those problems and I think its so important to share! Glad you enjoyed that segment 🥰