September Beers & Budgeting | Millennials Retire Early? | Summary and Q&A

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October 12, 2018
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Debt Free Millennials
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September Beers & Budgeting | Millennials Retire Early?

TL;DR

In this episode of Beers and Budgeting, Justine and Kyle review their September budget, discuss their upcoming trip to Australia, and consider the concept of financial independence and retiring early (FIRE).

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Key Insights

  • ❓ Justine and Kyle managed to stay within their budget for September by utilizing overtime income.
  • πŸ˜… Their electricity bill was higher than usual due to hot weather conditions.
  • 🌏 They spent almost $4,000 on travel in September, including rebooking flights and other expenses related to their upcoming trip to Australia.
  • πŸ’‘ Justine is intrigued by the concept of FIRE and wants to explore the idea of financial independence and retiring early.
  • πŸ˜’ They have a remaining balance of $2,600 in their vacation fund, which they plan to use for their trip to Australia.
  • πŸ‘¨β€πŸ’Ό Justine runs her own marketing consulting business, which provides additional income streams.

Transcript

hey guys welcome back to another episode of beers and budgeting where we talk about our monthly budget and we have a really good craft beer too so stick around hey what's up it's Justine with deputy Millennials and I have my husband Kyle with me again if you are new to the channel make sure you all hit that subscribe button and hit the bell notific... Read More

Questions & Answers

Q: How did Justine and Kyle manage to stay within their budget for September despite having a high credit card bill?

Justine and Kyle utilized overtime income to cover the expenses and did not accrue any debt. They prioritize paying off their credit card in full each month.

Q: What was the main reason for their increased electricity bill in September?

The electricity bill was higher than usual due to the hot weather, which resulted in higher energy usage for cooling purposes.

Q: How did Justine and Kyle manage to stay under budget for groceries, restaurants, and gas despite being away for most of September?

Since they were away for a significant portion of the month, they didn't spend much on groceries, restaurants, and gas. This helped them stay within their budget.

Q: What is the concept of FIRE that Justine and Kyle are discussing?

FIRE stands for financial independence and retiring early. It involves saving and investing enough money to cover living expenses, allowing individuals to retire at a younger age.

Summary & Key Takeaways

  • Justine and Kyle review their September budget, which included a high credit card bill due to booking their Australia trip and being away for extended periods.

  • They managed to stay within budget by utilizing overtime income and not going into debt.

  • They discuss their electricity bill, which was higher than usual, but managed to stay under budget for groceries, restaurants, and gas due to being away for most of the month.

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