LA Bucket List, High Energy Bills, and a Cozy Stout! | January 2023 Beers & Budgeting | Summary and Q&A

TL;DR

In their first episode of 2023, Justine and Kyle review their January finances, including income, expenses, and savings goals, while enjoying a Firestone brewery collab beer called Camping Blanket.

Key Insights

• 🙂 Justine and Kyle's January finances were relatively on track, with slightly higher income than forecasted and closely managed expenses.
• 👂 The couple made progress on their savings goals for the down payment fund and the LA bucket list.
• ❓ Justine highlighted the importance of intentional spending and the benefits she experienced from participating in a dry January.
• 🫢 They discussed the potential impact of financial challenges like rising gas bills and a possible upcoming recession.
• ❓ Justine shared her experience with using sinking funds to manage budget categories effectively.
• 💨 The couple mentioned the importance of finding budget-friendly ways to enjoy their time in LA, such as trying different cuisines and exploring local attractions.
• 🥅 They discussed the decision-making process for saving, investing, and prioritizing financial goals.

Transcript

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Questions & Answers

Q: How did Justine and Kyle fare with their income and expenses in January?

Justine and Kyle brought in slightly more income than forecasted and were able to closely track their expenses, staying under their budget.

Q: What were some of the major expenses for Justine and Kyle in January?

The couple's biggest expenses in January were rent and daycare. They also mentioned that they were able to stay under budget for groceries.

Q: What savings goals did Justine and Kyle work on in January?

Justine and Kyle focused on their down payment fund and the LA bucket list. They also mentioned opening a high yield savings account for their vacation fund.

Q: Did Justine and Kyle make any adjustments to their budget or savings plan for February?

Justine and Kyle mentioned adjusting their down payment fund contribution and planning to spend some extra money on a couple's massage. They also mentioned ongoing adjustments to their sinking funds.

Summary & Key Takeaways

• Justine and Kyle review their January income and expenses, bringing in slightly more than forecasted income and closely tracking expenses.

• They highlight major expenses such as rent and daycare, while also noting that they were under budget for groceries.

• The couple shares their progress on savings goals, including the down payment fund and the LA bucket list.