Financial Coaching for Women: How To Budget, Manage Money, Pay Off Debt, Save Money, Paycheck Plans Vanessa & Shana | Christian Financial Coaches | Dave Ramsey Fans

Snag Our Signature Budget Template!



Hey, Budget Besties!

🏡💸 Ever get those offers from your bank asking if you want to opt into a biweekly payment program? To some, your initial reaction might be, "Sounds like math...and I’m not sure if this is a good idea." Don’t worry, we’ve done the research for you, and we're here to break it all down!

The Problem:

Most homeowners don’t realize that they pay the most interest in the first seven years of their mortgage. If you check your statements, you’ll see that a tiny portion of your payment goes towards the principal, while the majority goes towards interest. Banks know this, and that’s why they want to get their money upfront.

The Biweekly Payment Plan:

Banks offer biweekly plans, but what's the deal with those? Here's how it works:


Monthly Payment: If your mortgage is $2000/month, you pay $24,000/year.


Biweekly Payment: You pay $1000 every two weeks, resulting in 26 payments per year (52 weeks/2), totaling $26,000/year.



That’s an extra $2000 annually, effectively making one additional monthly payment each year. This reduces your principal faster, saving you thousands in interest over the life of the loan.

Our Recommendation:

Instead of following the bank's plan, which might complicate your budget with biweekly payments, we suggest:


Stick to Monthly Payments: Calculate your extra payment for the year and divide it by 12.


Add Extra to Your Monthly Payment: If you want to add $2000 extra annually, add about $167 to your monthly payment.


Direct Extra to Principal: Ensure you specify that the extra amount goes directly towards the principal, not next month’s bill.



When to Consider This:


Assess Your Priorities: Your money can only do so much. Decide if paying off your mortgage faster is a priority over other financial goals like savings, debt repayment, or investments.


Check Your Budget: Ensure you have enough extra income each month to cover the additional payment without straining your finances.



Real-Life Application:

When Vanessa paid off her mortgage, she prioritized security over potential investment gains. Knowing her house was paid off was worth more than the interest she could have earned elsewhere.

Final Thoughts:

If you have the budget for it, making extra mortgage payments can save you tens of thousands of dollars and cut years off your loan. Just make sure to automate it and communicate with your bank that these payments should go toward the principal.





4 Ways To Connect With Us:

1️⃣ FREE CALL: Book your FREE 20-Minute Financial Coaching Call now! Get personalized advice and start your financial journey ➡︎ https://www.budgetbesties.com/freecall 

2️⃣ FACEBOOK: Become part of our Supportive Facebook Group. Connect, share, and learn with others mastering their budget skills ➡︎ https://www.budgetbesties.com/facebook 

3️⃣ BUDGET: Grab our Signature Budget Template! It's your key to organizing and optimizing your finances effectively ➡︎ https://budgetbesties.com/budget 

4️⃣ COACHING: Ready to dive deep into your finances? Sign up for 1-on-1 or Group Financial Coaching. It’s the accountability and guidance you need to make real progress ➡︎ https://budgetbesties.com/coaching 

"I love Shana & Vanessa and this podcast is amazing!" If that sounds like you, please consider rating and reviewing our show! It helps us to reach more people – just like you – to help them change their financial future. Don’t forget to follow the show so you don’t miss any episodes! And, if you’re feeling really generous, we’d be SO honored if you would share this podcast with someone. 

Click here to view our privacy policy.

This description may contain affiliate links, meaning we may get a commission at no cost to you if you click & purchase!  



---

Send in a voice message: https://podcasters.spotify.com/pod/show/idealbalance/message

Snag Our Signature Budget Template!

Hey Budget Besties! 💸

Welcome back to another episode where we’re diving into real-life budgeting scenarios and sharing some golden nuggets from our coaching sessions. Today’s episode is all about getting organized, cutting down unnecessary expenses, and ensuring that you and your partner are on the same financial page. Let’s get into it!

1. Tackling Subscriptions and Multiple Accounts

Ever found yourself juggling multiple subscriptions across various accounts? One of our clients did just that! With subscriptions coming out of four different credit cards and two checking accounts, she was all over the place. By our second meeting, she discovered over 20 subscriptions she forgot about. Here's the game plan we shared:


Gather all your subscriptions: Do a 90-day review to see where your money is going.


Consolidate payments: Move all subscriptions to one account, preferably your bills checking account.


Set reminders: If you sign up for free trials, set a reminder to cancel before you're charged.



2. The Metal Credit Card Dilemma

Why do they make some credit cards metal? Spoiler alert: It’s not for your benefit! Metal cards are harder to destroy, making you more likely to keep and use them. If you're clinging to a metal card, remember: credit card companies aren't on your side. Our advice? Consider if the benefits truly outweigh the costs and if it's really necessary.

3. Financial Honesty in Marriage

Finances can be a significant stressor in relationships, especially when there’s a lack of transparency. One of our clients faced this exact issue—her husband kept financial secrets to protect her, but it ended up causing more harm. Here's our advice for couples:


Be open and honest: Lay everything out on the table and discuss your finances as a team.


Work together: Create a shared budget and financial goals to work towards together.


Communicate regularly: Avoid crisis mode by having regular financial check-ins.



4. The Power of Savings Buckets

Imagine having a week where you need an oil change, buy tickets to Costa Rica, purchase maternity clothes, and get a birthday gift for your kid—all without financial stress. One of our clients did just that by using savings buckets. She had specific funds set aside for each expense, making her feel confident and prepared. Here's how you can do it:


Create a budget: Start with a clear, personalized budget template.


Set up savings buckets: Allocate funds for specific purposes like travel, car maintenance, and clothing.


Stay the course: Consistently contribute to your buckets and enjoy the peace of mind they bring.






4 Ways To Connect With Us:

1️⃣ FREE CALL: Book your FREE 20-Minute Financial Coaching Call now! Get personalized advice and start your financial journey ➡︎ https://www.budgetbesties.com/freecall 

2️⃣ FACEBOOK: Become part of our Supportive Facebook Group. Connect, share, and learn with others mastering their budget skills ➡︎ https://www.budgetbesties.com/facebook 

3️⃣ BUDGET: Grab our Signature Budget Template! It's your key to organizing and optimizing your finances effectively ➡︎ https://budgetbesties.com/budget 

4️⃣ COACHING: Ready to dive deep into your finances? Sign up for 1-on-1 or Group Financial Coaching. It’s the accountability and guidance you need to make real progress ➡︎ https://budgetbesties.com/coaching 

"I love Shana & Vanessa and this podcast is amazing!" If that sounds like you, please consider rating and reviewing our show! It helps us to reach more people – just like you – to help them change their financial future. Don’t forget to follow the show so you don’t miss any episodes! And, if you’re feeling really generous, we’d be SO honored if you would share this podcast with someone. 

Click here to view our privacy policy.

This description may contain affiliate links, meaning we may get a commission at no

Snag Our Signature Budget Template!

Hey Budget Besties! Are you ready to rock your June budget? Join us as we guide you through setting up your budget for the upcoming month. Whether you're new to budgeting or a seasoned pro, this episode is packed with tips to ensure your financial plan is solid. We'll review the essentials of wrapping up May, setting realistic goals for June, and making use of our handy budget templates.

Key Takeaways:

Wrapping Up May:

Let's review what actually happened financially vs. what you planned.

Don’t worry if things didn’t go as planned; it’s a learning process.

Make sure you have a buffer for unexpected expenses.

Setting Up Your June Budget:

Income: List all your sources, including side hustles, bonuses, and refunds.

Debt: Record your minimum payments and any additional amounts you plan to pay.

Bills: Include all your recurring expenses, from utilities to subscriptions.

Spending: Plan for groceries, gas, dining out, and personal care.

Savings: Allocate funds for specific goals and unexpected costs.

Special Considerations for June:

Think about Father’s Day, weddings, summer camps, and vacations.

Update your budget with any new or seasonal expenses.

Plan for irregular income or large one-time payments like tuition or medical bills.

Tips and Tricks:

Use our signature budget template that auto-fills monthly to save time.

Stay flexible and adjust as needed; life happens, and so do expenses.

Celebrate small wins like paying off debt or saving for a goal.




4 Ways To Connect With Us:
1️⃣ FREE CALL: Book your FREE 20-Minute Financial Coaching Call now! Get personalized advice and start your financial journey ➡︎ https://www.budgetbesties.com/freecall 
2️⃣ FACEBOOK: Become part of our Supportive Facebook Group. Connect, share, and learn with others mastering their budget skills ➡︎ https://www.budgetbesties.com/facebook 
3️⃣ BUDGET: Grab our Signature Budget Template! It's your key to organizing and optimizing your finances effectively ➡︎ https://budgetbesties.com/budget 
4️⃣ COACHING: Ready to dive deep into your finances? Sign up for 1-on-1 or Group Financial Coaching. It’s the accountability and guidance you need to make real progress ➡︎ https://budgetbesties.com/coaching 
"I love Shana & Vanessa and this podcast is amazing!" If that sounds like you, please consider rating and reviewing our show! It helps us to reach more people – just like you – to help them change their financial future. Don’t forget to follow the show so you don’t miss any episodes! And, if you’re feeling really generous, we’d be SO honored if you would share this podcast with someone. 
Click here to view our privacy policy.
This description may contain affiliate links, meaning we may get a commission at no cost to you if you click & purchase!


---

Send in a voice message: https://podcasters.spotify.com/pod/show/idealbalance/message

Snag Our Signature Budget Template!

Hey Budget Besties! 🌞 Are your kids already asking to do a million things this summer? We totally get it. Summer can quickly become a chaotic mix of activities, camps, and trips. But do you have the money for all those plans? Today, we’re diving into how to budget for a fun and memorable summer without breaking the bank!

Episode Highlights:


Planning with Purpose:


Start by casting a vision for your summer. What do you want to accomplish? How do you want to feel by the end of it?
Get your family involved! Have a meeting to discuss everyone’s ideas and commitments.
Use a blank calendar to map out all your plans and avoid overbooking.


Setting Realistic Expectations:


You only get so many summers, especially with your kids at home. Make each one count!
Consider a mix of paid and free activities to balance the budget.


Budgeting Tips:


Look at your overall budget to see what you can afford. Prioritize based on what matters most to your family.
Involve your kids in the budgeting process. Give them a set amount and let them choose how to spend it.


Free and Low-Cost Activities:


Check out community events, library programs, and local parks.
Utilize memberships, like YMCA or museum passes, to save money while keeping kids entertained.


Paid Activities Worth Budgeting For:


Summer camps: Factor in all costs, including registration, equipment, and extras.
Vacations: Plan for travel, lodging, food, and activities. Use our vacation tracker to help budget!


Teaching Financial Literacy:


Encourage your kids to earn money for additional activities through chores or small jobs.
Teach them to make choices based on available funds, fostering responsible financial habits.



Final Thoughts:

Plan your summer with intention and keep your family's goals and values in mind. Make sure to schedule your vacations first and fit other activities around them. Explore free community events and communicate positively about financial decisions to foster a healthy money mindset in your kids.





4 Ways To Connect With Us:

1️⃣ FREE CALL: Book your FREE 20-Minute Financial Coaching Call now! Get personalized advice and start your financial journey ➡︎ https://www.budgetbesties.com/freecall 

2️⃣ FACEBOOK: Become part of our Supportive Facebook Group. Connect, share, and learn with others mastering their budget skills ➡︎ https://www.budgetbesties.com/facebook 

3️⃣ BUDGET: Grab our Signature Budget Template! It's your key to organizing and optimizing your finances effectively ➡︎ https://budgetbesties.com/budget 

4️⃣ COACHING: Ready to dive deep into your finances? Sign up for 1-on-1 or Group Financial Coaching. It’s the accountability and guidance you need to make real progress ➡︎ https://budgetbesties.com/coaching 

"I love Shana & Vanessa and this podcast is amazing!" If that sounds like you, please consider rating and reviewing our show! It helps us to reach more people – just like you – to help them change their financial future. Don’t forget to follow the show so you don’t miss any episodes! And, if you’re feeling really generous, we’d be SO honored if you would share this podcast with someone. 

Click here to view our privacy policy.

This description may contain affiliate links, meaning we may get a commission at no cost to you if you click & purchase! 


---

Send in a voice message: https://podcasters.spotify.com/pod/show/idealbalance/message

Snag Our Signature Budget Template!



Hey Budget Besties! In this episode, we’re sharing some real-life nuggets from our group coaching sessions. May was a long month for budgets, and we’re here to help you navigate all the challenges it brings. From unexpected grocery bills to handling extra paychecks, we’ve got tips to keep you on track. Plus, hear how to manage those pesky annual bills and the importance of replenishing your emergency fund quickly. Join us as we dive into your burning questions and tackle budget dilemmas together!

May Budgeting Tips:


May feels like December with all the extra expenses like Mother’s Day, graduations, and end-of-year parties.


Plan ahead for these events to avoid budget surprises.



Handling Extra Paychecks:


When you receive an extra paycheck, focus on your primary financial goals.


Consider applying it to large upcoming expenses like college tuition or insurance premiums.



Emergency Fund Replenishment:


Always prioritize replenishing your emergency fund after using it.


Think of it as storm mode – stop everything else until your emergency fund is back in place.



Automating Payments:


Set up automatic payments for regular expenses, even if they’re going to a person, like paying a family member for childcare.


Use your bank’s bill pay feature to streamline this process.



Budgeting for Annual Bills:


Save monthly for annual or bi-annual bills to avoid large, unexpected expenses.


Label savings accounts specifically for these purposes to stay organized.



4 Ways To Connect With Us:

1️⃣ FREE CALL: Book your FREE 20-Minute Financial Coaching Call now! Get personalized advice and start your financial journey ➡︎ https://www.budgetbesties.com/freecall 

2️⃣ FACEBOOK: Become part of our Supportive Facebook Group. Connect, share, and learn with others mastering their budget skills ➡︎ https://www.budgetbesties.com/facebook 

3️⃣ BUDGET: Grab our Signature Budget Template! It's your key to organizing and optimizing your finances effectively ➡︎ https://budgetbesties.com/budget 

4️⃣ COACHING: Ready to dive deep into your finances? Sign up for 1-on-1 or Group Financial Coaching. It’s the accountability and guidance you need to make real progress ➡︎ https://budgetbesties.com/coaching 

"I love Shana & Vanessa and this podcast is amazing!" If that sounds like you, please consider rating and reviewing our show! It helps us to reach more people – just like you – to help them change their financial future. Don’t forget to follow the show so you don’t miss any episodes! And, if you’re feeling really generous, we’d be SO honored if you would share this podcast with someone. 

Click here to view our privacy policy.

This description may contain affiliate links, meaning we may get a commission at no cost to you if you click & purchase!  


---

Send in a voice message: https://podcasters.spotify.com/pod/show/idealbalance/message

Book A Free Financial Coaching Call!

Hey, budget besties! In this episode, we're diving into the essential first step of budgeting: rediscovering your financial dreams and figuring out your "why." We share heartwarming stories, practical steps, and motivational tips to help you envision a future that excites you. Let’s get back to dreaming big and setting the stage for financial success!

Key Takeaways:


Start with Your Why:


Reflect on your financial goals and what you want for your future.
Keeping your "why" in front of you helps stay motivated.


Visioning Exercise:


Take time to dream again. Think about what you want for yourself and your family.
Use a long-term perspective to set exciting goals.


Practical Steps:


Write down your goals for one year, five years, and retirement.
Break down what you want to accomplish in each timeframe.
Keep your goals visible to stay focused.


Real-Life Inspiration:


Hear about Luke and Tina's journey from living in an RV to setting clear financial goals.
We share our personal stories of planning for future trips and retirement.


Integrating Dreams with Budgeting:


Ensure your daily budget aligns with your long-term goals.
Use budgeting as a tool to achieve your dreams, not just a chore.



Memorable Quotes:


"You have to know your why. If you don't have an end goal, you don't show up for it well."
"Take a step back and think about what are we excited about? What do we want?"
"Dream again. You used to be so young and excited with big goals. We want that for you still."

Action Steps:


Vision Board: Create a vision board or write down your financial dreams. Include short-term and long-term goals.
Daily Reminders: Place reminders of your goals where you'll see them often—your bathroom mirror, car, or workspace.
Budget Alignment: Review your budget to ensure it supports your goals. Make adjustments as needed to stay on track.

4 Ways To Connect With Us:

1️⃣ FREE CALL: Book your FREE 20-Minute Financial Coaching Call now! Get personalized advice and start your financial journey ➡︎ https://www.budgetbesties.com/freecall 

2️⃣ FACEBOOK: Become part of our Supportive Facebook Group. Connect, share, and learn with others mastering their budget skills ➡︎ https://www.budgetbesties.com/facebook 

3️⃣ BUDGET: Grab our Signature Budget Template! It's your key to organizing and optimizing your finances effectively ➡︎ https://budgetbesties.com/budget 

4️⃣ COACHING: Ready to dive deep into your finances? Sign up for 1-on-1 or Group Financial Coaching. It’s the accountability and guidance you need to make real progress ➡︎ https://budgetbesties.com/coaching 

"I love Shana & Vanessa and this podcast is amazing!" If that sounds like you, please consider rating and reviewing our show! It helps us to reach more people – just like you – to help them change their financial future. Don’t forget to follow the show so you don’t miss any episodes! And, if you’re feeling really generous, we’d be SO honored if you would share this podcast with someone. 

Click here to view our privacy policy.

This description may contain affiliate links, meaning we may get a commission at no cost to you if you click & purchase!  


---

Send in a voice message: https://podcasters.spotify.com/pod/show/idealbalance/message