February 2020 Beers & Budgeting | Vodka Instead of Beer?!

TL;DR

Couple discusses monthly income, expenses, keto diet, investments, and beer choices.

Transcript

how are we drinking beer today oh that's why I'm angry we're on keto killing me so instead we have a bloody berries yes we are Cheers what's in this Bloody Mary hmm alcohol spicy v8 Tabasco pepper olives and spicy pickled by the way welcome to another beers and budgeting episode long-awaited I got some comments saying that you guys we're looking fo... Read More

Key Insights

• 🍃 Monthly income of $12,000, expenses of $8,400, leaving a surplus of $3,800.
• 😨 Strategies to negotiate discounts on fixed expenses like car insurance.
• 🥹 Decision to hold onto investments amid market volatility due to coronavirus concerns.
• ❓ Utilization of online platforms like Robinhood, Acorns, and Ally for investing and savings.
• 🚕 Consideration of Credit Karma and H&R Block for tax filing based on personal filing needs.
• 🎞️ Adherence to a keto diet experiment and preparation for an upcoming anniversary trip to Cancun.
• 🍉 Reflection on long-term investments and short-term savings goals amid market uncertainty.

Questions & Answers

Q: How did the couple's monthly income and expenses compare in February?

The couple's monthly income for February was just under $12,000, with expenses totaling around $8,400, leaving them with a surplus of $3,800 to allocate.

Q: What steps did they take to negotiate discounts on fixed expenses like car insurance?

The couple used a car comparison website called Gabi to find the best deal on car insurance and successfully negotiated a $31 discount on their premium.

Q: How did the couple handle their investments amid the market crash due to coronavirus concerns?

The husband sold his investments while the wife took a hit in her retirement accounts but decided to hold onto them, believing the market will correct itself.

Q: What tools did the couple use to manage their investments and track their finances?

The couple used online platforms like Robinhood for stock trading, Acorns for automated investing, and Ally for high-yield savings, along with seeking professional help from a CPA for tax filing.

Summary & Key Takeaways

• Couple discusses their monthly income and expenses, incorporating their keto diet experiment and upcoming anniversary trip to Cancun.

• They review fixed expenses, discuss planning for future expenses, and reflect on investments amid market volatility.

• The couple provides insights on savings strategies, investment choices, and upcoming financial milestones.