May 2020 Beers & Budgeting | Kyle Wants $500 NO Q's Asked?! (I def have Qs...)

TL;DR

Tracking income, expenses, decisions monthly, enjoying a Newcastle beer while discussing finances, updates on stimulus check, investments, down payment, and expenses allocation for June.

Transcript

do we need an intro really I mean if you've been watching this channel for a while then you know what beers and budgeting is all about we're looking over income and expenses every single month and making decisions together as did you really say do I need an intro what do you mean you need an intro you're not big enough that you're like oh my name's... Read More

Key Insights

• 💨 Stimulus check received in full, paving the way for wise financial decisions.
• 🤑 Planned allocation of funds for investments, down payment, and fun money in June.
• 💝 Reflecting on past budget categories like groceries, takeout, and gifts to make informed decisions.
• 🏘️ Challenges in the housing market with all-cash offers and the importance of saving for a house down payment.
• 🏣 Observations on investment trends post-stimulus checks and the influence of top companies in the stock market.

Questions & Answers

Q: What was the couple's reaction to receiving their stimulus check?

The couple received their full $1200 stimulus check per person, totaling $2400 due to being married. They were in a good position financially and discussed allocating the funds wisely for June.

Q: How did the couple approach updating their budget for June?

They forecasted a $10,000 income for June, higher than their average of $8800, and prioritized saving for the down payment on a house. They allocated funds towards the Jeep fund, investments, and fun money.

Q: What were some interesting financial observations discussed during the analysis?

The couple shared insights on the investment trends post-stimulus check, the impact of top companies in the stock market, and the rising investments in retirement funds. They also highlighted the challenge of competing with all-cash home offers in the housing market.

Q: How did the couple reflect on their past expenses and plan for future spending?

They evaluated their spending on groceries, takeout, fun money, investments, and gifts in May. Planning for June, they adjusted allocations for categories like vacations, fun money, and investments, considering their financial goals.

Summary & Key Takeaways

• Beers and Budgeting monthly analysis involves tracking income, expenses, and making financial decisions together.

• May's analysis includes updates on receiving the stimulus check, investments in shares like Pepsi, updates on down payment savings for a house, and allocation of funds for various expenses in June.

• The couple discusses budget categories like groceries, takeout, fun money, investments, and the Jeep Wrangler fund, reflecting on past spending and planning for the future.