June 2020 Beers & Budgeting | Kyle Got Some Good News at Work!

TL;DR

Justine and Kyle share their June budget over Guinness, discuss promotions, retirement savings, and a socially distant trip.

Transcript

okay we are a little delayed in doing our june beers and budgeting episode just a little bit i know somebody was like hey where did i miss it no you didn't we just got lazy but we're still doing it and we're gonna do it with a beer in just a second the beard today more importantly the wonderful tasting guinness if you don't know what a guinness is ... Read More

Key Insights

• ❓ Kyle's promotion provided a salary increase and a motivational boost despite challenges during the pandemic.
• ✋ Justine and Kyle navigate the high costs of living in San Diego while prioritizing financial stability.
• 🧑‍🤝‍🧑 The couple's detailed budgeting approach includes savings for retirement, house down payment, and vacation.
• 🎞️ A socially distant trip to Palomar Mountain highlights the importance of affordable getaways for relaxation.
• 🥅 Strategic financial adjustments for their July budget show a commitment to reaching their financial goals.
• 🍹 Savings progress in various funds, including retirement accounts, vacation fund, and house down payment, reflects their financial discipline.
• 💁 Justine and Kyle share relatable experiences and tips for managing expenses and financial growth.

Questions & Answers

Q: How did Kyle's promotion impact their budget?

Kyle's promotion led to a salary increase and a significant contribution towards retirement savings, highlighting the impact on their financial goals.

Q: What challenges do Justine and Kyle face living in an expensive city?

Justine and Kyle discuss the debate of moving out of California to increase their net worth while acknowledging the potential benefits of staying with the right career mindset.

Q: How did a socially distant trip to Palomar Mountain help Justine and Kyle unwind?

The couple found peace and quiet away from noise and crowds, spending under $500 on the trip, showcasing the value of budget-friendly getaways.

Q: What financial adjustments did Justine and Kyle make for their July budget?

They allocated extra income towards their down payment and vacation fund, showing a strategic approach to reaching their financial goals.

Summary & Key Takeaways

• Justine and Kyle review their June budget, surpassing income forecasts with a bonus from Kyle's promotion.

• They discuss the challenges of living in an expensive city like San Diego while aiming to increase their net worth.

• The couple shares insights on retirement savings, expenses, and progress towards their financial goals.