July 2021 Beers & Budgeting | Moving Money Towards Investments?

TL;DR

Couple reviews July budget, investments, and plans future financial moves over drinks.

Transcript

we just got back from the pool and we said we needed to go over our budget so we are doing a special beer with you guys this afternoon going over our july budget and let's do it hey guys it's justine with debt free millennials the channel to help you crush your debt live payment free this is my husband kyle what's up what's up what's up with our dr... Read More

Key Insights

• ✋ July budget review included higher income and leftover funds for Justine and Kyle.
• 🛀 The couple discussed adding a nanny category to their fixed expenses, showing their evolving financial priorities.
• 🌱 Investment updates showcased growth in Robinhood, Stash, and other accounts, with plans for more aggressive investing.
• 🥅 Considerations for exploring backdoor Roth IRA and other exploratory investment options were mentioned, aligning with their 2021 investment goals.
• 🌱 Future financial plans included potential allocations towards house down payment and more aggressive investments.
• 🥅 Collaborative approach between Justine and Kyle in financial decision-making and goal setting was evident throughout the review.
• 🤩 Budgeting discipline and balancing current expenses with long-term investment goals were key themes in their financial discussion.

Questions & Answers

Q: What were Justine and Kyle's key financial highlights for July?

Justine and Kyle highlighted increased income, successful budgeting in fixed categories, and adding a nanny expense.

Q: How did their investments perform in July?

Their investments saw growth with Robinhood, Stash, and other platforms, with considerations for shifting funds for more aggressive investments.

Q: What did they discuss regarding a backdoor Roth IRA?

Justine and Kyle mentioned the need to explore a backdoor Roth IRA as part of their investment goals, indicating future financial planning steps.

Q: What considerations did they have for leftover money in their budget?

They debated between continuing towards their house down payment or allocating more towards aggressive investments, aligning with their financial goals.

Summary & Key Takeaways

• Justine and Kyle review their July budget, noting higher income and leftover funds.

• They discuss fixed expenses and adding a nanny category.

• Investment updates show growth in various accounts, with plans for future allocations.