Well... That Didn't Go as Planned! | January 2022 Beers & Budgeting

TL;DR

Couple reviews budget, discusses expenses and savings, plans for upcoming month.

Transcript

here's the the first month of 2022. we are finally going over our budget on the 13th of february um you haven't even shown it to me and you're already making me scared yeah yeah let's let's just do it hey guys it's justine with debt free millennials the channel to help you crush your debt and live payment free this is my husband kyle hey how's it g... Read More

Key Insights

• 🥺 Energy costs in San Diego were particularly high, leading to challenges in the couple's budget.
• ✋ Grocery prices were unexpectedly high, prompting reevaluation of meal delivery services like HelloFresh.
• 🎅 Real estate costs and rental increases in San Diego impacted the couple's decision-making regarding future housing plans.
• 🤢 Sinking funds were adjusted to accommodate changing needs and potential upcoming expenses like a new car seat.
• 🧑‍🤝‍🧑 Investments in accounts like Robinhood and Betterment experienced losses but the couple remained committed to long-term investing.
• 💇 The intentional spending challenge on Instagram was a tool to encourage mindful spending habits and cut out unnecessary expenses.
• 🥳 Plans for the upcoming month included budget forecasts, celebrations like Valentine's day and birthdays, and continued financial diligence.

Questions & Answers

Q: How did the couple handle unexpected expenses like high energy bills and grocery costs?

The couple addressed high energy bills by contacting local officials and considered cancelling services like HelloFresh to save on groceries.

Q: What strategies did the couple use to adjust their sinking funds and maintain savings despite increased expenses?

They discussed reevaluating sinking funds like the baby fund for changing needs and considered reallocating funds for upcoming expenses like a new car seat.

Q: How did the couple evaluate their investments and savings progress for the month?

They reviewed various investment accounts like Robinhood, Betterment, and Stash which experienced decreases, indicating a market downturn but remained committed to long-term investing.

Q: What plans did the couple make for the upcoming month in terms of budgeting and intentional spending?

They outlined forecasts for expenses like Valentine's day and birthdays, discussed cancelling subscription services, and shared details about their intentional spending challenge on Instagram.

Summary & Key Takeaways

• Couple reviews previous month's budget, highlights expenses like groceries and energy bills.

• Discuss sinking funds adjustments and potential real estate decisions.

• Review investments, savings, intentional spending challenge, and upcoming budget plan.