Posted on

Ep2: Budgets with AskAllea

Episode #2: Budgets with AskAllea



AskAlleaToday I talk with Allea about Budgeting and some tips for creating and acting upon good budgets

Allea is a huge fan of budgeting, minimalism, and works as a financial coach! Yes its Allea  (pronounced like Allie or Aly) She works with a lot of millennials to make proactive plans for right when graduating college and moving into their first jobs. Allea has the skill from helping so many of her peers already create action plans for finances right after school.

She thought, “How can I help people transition into financial adulthood” and AskAllea was born. It was made to reduce and make finances simple in a world of heavy duty information that is hard to discern. Let alone garbage and untrue information being out there in the internets. Her proven process that’s been trial driven on friends and colleagues has become a powerful process for empowering those who Allea works with to be in control of their money so they can put it towards what they want.

It seems that Allea and I both got in Car Accidents this January. We both have gone through learning curves in budgeting and both certainly have had issues of our own and made mistakes. No-ones perfect, but we can all at least be adults and learn how to handle money well. So enjoy!

Highlights:

  • How Allea organized a friend’s budget over 3 intense hours of work, how you can too!
  • Why a budget can empower you to spend money how you want. Even if it’s a $200 Taylor Swift concert ticket
  • Why budgeting for the responsible and boring things allows you to not be stressed when spending the other money on what you want your money to go on
  • What is Budgeting “gravy” and how to stay healthy in budgets
  • The importance of Emergency Funds
  • The emotional aspect of money and how to fix those nerves
  • The importance of saving for a rainy day now (automated savings)
  • Why everyone needs a coach or financial accountability partner like AskAllea or FinancialGinger
  • The role of emotions in bad financial decisions
  • How you can pay off debt, and still live your life!
  • Allea’s biggest financial success: (No spoilers! listen at 15:00)
  • Why talking about money is important for kids and couples
  • Average debts for student loans and credit cards are astounding!
  • Why everyone needs to learn skills in finance
  • The snowflake method of paying off debt

Money Maxim

Allea Grummert Maxim

“Living Within Your Means Doesn’t Have To Suck” – Allea

Action Items:

Organize your finances into a budget. (you can work with Allea or Me if you like)

Have an accountability partner.

Build an Emergency Fund, start with building up to 1 full paycheck, make a goal and plan to get to 3 months of spending.

Know it takes time to improve, and it’s okay to live life and have fun while working on debt.

It’s okay to say “I don’t know” and to get a coach to help.

Don’t call Allea “Ah-lee-uh” like Jacob did.

 

—————–

If you want to work with Allea you can visit her at AskAllea.com and visit her coaching page! She has a new 17 page guide the “Real Life Money Guide and explanations of what they are, with some sass and fun. You can also ask her your own question that she will answer!

Find her on Twitter at AskAllea and Facebook at AskAllea and Pinterest

Get the starter homework and then sit down to make a beautiful organized budget.
Check out this episode!

Posted on

Ep1:Health Savings Accounts with Jackie Koski

Episode #1: Health Savings Accounts with Jackie Koski



Dream of LiteracyToday I talked with MoneyLetters2.com head Jackie Koski about Health Savings Accounts (HSA’s)! She wrote a wonderful book called Money Letters to my daughter. Why? Because most schools in the US don’t require students to take personal finance courses. As she wrote, many schools and groups became interested in what she taught her daughter. She ended up giving lectures in high schools and in the community of South Carolina. Her wisdom and keen eye for detail in finance speaks for itself when you listen to her. Listen for her story in collecting $2 bills, and also the power of Health Savings Accounts!

Highlights

Most schools don’t require any form of finance! It’s important to get some sort of Financial Literacy in during school if you can!
Jackie’s $2 bill collection, over 1600 $2 bills!
What an HSA account is and how It’s used
HSA vs FSA Triple Tax Benefits of HSA accounts. (Now, Growing, and Later)
How HSA’s can help us prepare for common expenses in retirement
Jackie shares how much her accounts have grown
Things not to with an HSA account
HSA account hacks
How to write off HSA accounts from taxes
Don’t be scared of health care and big acronyms
HSA’s are relatively new, only been around about 10 years
Visiting doctors and labelling doctors’ visits for proper HSA coverage

Money Maxim

Maxim 27 - Jackie Koski

  • We measure everything else, but we don’t measure how much we know about money, something that everyone will deal with. Learn something new each day.

Action Items

  • Open an HSA account! (which requires a Qualified High Deductible health insurance, it may not be right for everyone!)
  • Read this article from Mad Fientest about HSA’s
  • Keep a file system of all medical receipts that you incur after opening an HSA account. So, you can pay yourself from your HSA account later if needed. (or don’t and let that money grow)
  • Whenever possible ask medical professionals to label your visits as “routine visits”
  • Share this episode with someone who could benefit from an HSA account.

Contact Info

Jackie Koski works with groups and schools to increase financial literacy in a fun enjoyable yet simple matter. She wrote a book that can be found here all about how she taught her daughter about money. She is enthusiastic and extremely knowledgeable.

www.Moneyletters2.com is her website to connect with her!

Facebook LinkedIn Twitter @MoneyLetters2

Correction: When speaking of Vanguard I spoke incorrectly, Their math ends up being 18% 401(k) not 28%. Pardon!
Check out this episode!