No matter how much you make, tracking your spending not only helps you feel better, but allows you to make informed decisions.

A budget isn't there to cut costs or live like a miser, it's there so you know what's going on in your financial life.

3 takeaways from this episode:

• Focus on Large Items:

  Cars, homes, loans - keeping the cost of these items low, allows you to spend more freely in other areas.

• Embrace Financial Awareness - Track!:

  Use a software like YNAB (You Need a Budget), will help you see where you money is going. By constantly monitoring your spending habits and identifying areas to cut costs, you gain more control and make informed decisions to enhance your savings.

• Plan For Irregular Expenses:

  Budgeting isn’t just about monthly expenses; it’s about preparing for those non-recurring costs like auto insurance, holiday shopping, and emergency funds. Setting aside funds for these will help alleviate financial stress.

Related episodes:

My New Favorite Financial Book: No Worries by Jared Dillian (Ep 51)

Your Best Financial Life: Save Smart Now For the Future You Want (Ep 40)

Ready to take the next step?

• Subscribe to the Podcast: pod.link/1671924778
• Don't forget to leave a review!
• Follow Michelle for more financial tips:
  • YouTube: youtube.com/@theunconventionalinvestor
  • Instagram: michelle.e.moses
  • Website: www.mefinancial.net

Disclaimer: The information provided in this podcast is for general informational purposes only and should not be construed as professional financial advice. Always consult with a qualified financial advisor or professional before making any financial decisions. The hosts and guests of this podcast are not responsible for any actions taken based on the information presented.

Thinking about leaving a legacy? The SECURE Act changed the rules for inheriting IRAs, potentially impacting your financial plans. Learn how you can change your savings strategy to minimize taxes for your heirs.

What You'll Learn:

• The 10-Year Distribution Rule: Understand how the SECURE Act affects how beneficiaries access inherited IRA funds.
• The Power of Roth IRAs: Discover why Roth IRAs are even more important now for tax-free retirement income.
• Strategic IRA Withdrawals & Alternatives: Explore strategies like controlled withdrawals and life insurance to manage tax implications and secure your heirs' future.

Related Episodes:

Using a Backdoor Roth IRA for Retirement Savings (Ep. 54)

Controlling Your Wealth with Wills, Trusts and Estate Planning (Ep. 14)

Ready to take the next step?

• Subscribe to the Podcast: pod.link/1671924778
• Don't forget to leave a review!
• Follow Michelle for more financial tips:
  • YouTube: youtube.com/@theunconventionalinvestor
  • Instagram: michelle.e.moses
  • Website: www.mefinancial.net

Disclaimer: The information provided in this podcast is for general informational purposes only and should not be construed as professional financial advice. Always consult with a qualified financial advisor or professional before making any financial decisions. The hosts and guests of this podcast are not responsible for any actions taken based on the information presented.

We've all seen that long list of options your employer hands you. Do you need all of them? Which ones are worth it?

In this episode, Corina Vakira Delugos, MBA, EA talks to us about which benefits can save you in taxes - so you're spending tax-free money for your expenses. Corina is a financial services professional with over 25 years of experience in tax, mortgage, and insurance planning.

Key Takeaways:

• Utilize Flexible Spending Accounts (FSAs) Wisely:

  • Depend Care FSA

    : Set aside up to $5,000 pretax for child or dependent care.

  • Healthcare FSA

    : Use for out-of-pocket medical expenses, but remember that funds generally don’t roll over.

• Maximize Health Savings Accounts (HSAs):

  • Paired with high deductible health plans.

  • Triple tax benefits: contributions are tax-deductible, growth is tax-free, and withdrawals for medical expenses are also tax-free.

• Explore Employee Stock Purchase Plans (ESPPs):

  • Purchase company stock at a discount.

  • Hold for over a year for favorable long-term capital gains tax treatment.

Listen to the full episode for more tips and strategies to save on taxes while making the most of your employee benefits!

Contact Corina - www.keenfinancialsolutions.com

Ready to ditch the financial stress?

• Subscribe to the Podcast: pod.link/1671924778
• Don't forget to leave a review!
• Follow Michelle on YouTube: https://www.youtube.com/@theunconventionalinvestor
• Follow Michelle on Instagram: michelle.e.moses
• Work with Michelle: www.mefinancial.net

Disclaimer: The information provided in this podcast is for general informational purposes only and should not be construed as professional financial advice. Always consult with a qualified financial advisor or professional before making any financial decisions. The hosts and guests of this podcast are not responsible for any actions taken based on the information presented.