Julia Kelsey - Finance Coach

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Orlando, FL
Julia Kelsey - Finance Coach

I help millennials struggling with money management gain financial clarity in order to start eliminating their debt and saving for their ideal future.

07/26/2022

Let's break down your zero based budget!

We have come to the end of this budget breakdown series and we’re closing out with a final review and finalizing sections to ensure we are both spending within our means but also giving each dollar a purpose.

This step is pretty simple because you’ve done most of the hard parts in the prior sections with determining what you expect your allocations to be but this step can still take a bit of time and trial and error to find the most optimal adjustments for you and your situation, especially if you find yourself in the red.

Stay tuned for the rest of this week where I will be talking about the steps to take in each scenario.

‼️ Let me know below if you enjoyed this series and found it helpful! And if you have any suggestions for further parts please let me know, I’d be happy to continue on.👇🏽

07/19/2022

Let's break down your zero based budget!

So we’ve spent pretty much all of the previous sections focusing mainly on needs, with a few ‘wants’ thrown in in the form of sinking funds.

Now is time to focus on your longer term goals and setting yourself up to have the life you’re looking to have in the future.

‼️ What questions do you have about budgeting for financial goals? Leave them below and I'll cover them throughout the week!👇🏽

07/11/2022

Let's break down your zero based budget!

We are at probably my favorite section - sinking funds - just because they are so versatile and allow for so much flexibility within your budget.

I also really like sinking funds because they allow you to spend on things you want and simply enjoy without guilt because you know that you’ve already set money aside specifically for those purchases.

Not to mention the piece of mind being prepared for those unexpected expenses, that before would throw off an entire month and be extremely discouraging, gives you.

‼️ What questions do you have about sinking funds? Leave them below and I'll cover them throughout the week!👇🏽

07/05/2022

Let's break down your zero based budget!

This week we are focusing on the piece that isn’t always the most exciting but has to be taken care of - expenses.

Taking care of the expenses piece from the start allows for you to ensure you’re taking care of all of your needs (and maybe a few wants) before moving on to even more wants as well as setting yourself up for success in the future.

And don’t worry we’ll talk about how to make adjustments to this section, if you find your expenses are a little too high and there’s not much left over for your financial goals, later on in this budget break down series.

‼️ What questions do you have about budgeting your expenses? Leave them below and I'll cover them throughout the week!👇🏽

06/27/2022

Let's breakdown your zero based budget!

Starting with the piece that flows to all the others - your income.

Estimating your total income for the period your budget will cover is the kick for setting up your zero based budget since this will show you exactly what you have to work with.

‼️ What questions do you have about budgeting your income? Leave them below and I'll cover them throughout the week!👇🏽

06/20/2022

Ever thought that tracking your spending everyday would just be too time consuming? 🤔

I used to as well but have since created a routine that works for me and my schedule and takes up less than 5 minutes of morning each weekday.

The big pieces being to reconcile my accounts, i.e. noting where my money has already gone; and determining if I’m on track for the month as a whole, i.e. planning where the remaining money will go.

‼️ Make sure you save this for when you track your spending next!

06/13/2022

If you are at the start of your money management and budgeting journey or are just looking for a fresh start…

Consider doing a spending audit!

Wondering what a spending audit is and how to do one?

Here’s step by step exactly how you can preform one within your own finances! 👆🏽

‼️ Save this for the next weekend you have to dedicate to organizing your finances!

05/19/2022

Step-by-step the creation of a zero-based budget. 👆🏼

A zero-based budget is what ensures that you aren’t spending above your means, i.e. spending in the red and accumulating more debt.

This method starts by estimating your income for the month or budgeting period and giving each of those dollars a purpose, whether that’s being spent, saved, or put toward debt.

The beauty being you’re able to accurately determine what you’ll have remaining at the end of the period and make sure they are allocated toward your top financial priority instead of having no idea where that money has gone when the end of the month comes.

‼️ This outlines the basics but if you’re interested in going even deeper stay tuned for an announcement coming next week about how you can!

05/10/2022

Thinking too long-term or big picture tends to sometimes be more overwhelming than beneficial.

Of course, it’s important to know what you’re working toward.

Especially throughout a financial journey where some of your biggest goals might take years and years of work to achieve and you don’t want to let them fall aside.

💥 BUT that doesn’t mean these goals need to always be front of mind, in fact it’s probably better that they aren’t.

Paying off thousands of dollars in debt, for example, is going to take years and looking at that total amount and when you’ll become debt free day after day is going to feel discouraging a lot of the time and isn’t actually getting you anywhere.

👉🏼 Instead when you have a debt payoff plan established that has you putting $100 extra toward debt each month.

👉🏽 You’re tracking your spending and know exactly where your dollars are going so that you can ensure you have that $100 set aside.

👉🏾 And you’re closing out your budget each month to make sure you aren’t spending above your means and to see if there’s anything else left over.

That is encouraging and that is progress that you can see and track over time.

And you know you’re getting closer to that bigger goal without actually having to revisit how far you have left to go all of the time.

‼️ If this is something you struggle keeping in mind and find it derailing your progress, stay tuned because something is coming to help you with just this!

05/03/2022

April Budget in Review (Swipe to see my final monthly budget 👉🏼)
⠀⠀⠀⠀⠀⠀⠀
I closed out my April budget this weekend and it’s time to share my monthly review of my spending with you all.

This is also the time that I update my savings balances and sinking funds, and adjust for next month.

Wins for the month ➡️
I honestly think my biggest win for the month was being prepared and actually using the safety nets that I've created for myself.

I spent a long time building up my checking account cushion but then never really want to use it but that's exactly what it's there for and having that buffer allowed me to last minute decide to travel home for Easter without having to worry that I'd likely go over budget.

I was also able to once again put something into my student loan fund for making additional student loan payments in the future.

Could be improved ➡️
Once again I'm putting variable spending under this section because that was really the only area that I struggled in this month, but I do so with a grain of salt.

While I was quite over budget in my gas category and slightly over in a couple others I realize that in this case I was aware of them and knew exactly why those overages happened, it wasn't me just impulsively spending.

So instead of challenging myself to better stick to my limits with this note, I'm just challenging myself to think ahead when possible to have the most realistic budget that I can!

Overall, a really great month!

Let me know how you did with your April financial goals below 👇🏼

04/26/2022

Budgeting is NOT just having a budget!

And a budget is not just a summary of your expenses.

SO much more goes into proper money management that produces actual results.

👉🏼 You need to have a reason behind why you want to be in control of your finances, deeper than just wanting to save more or pay off some debt.

👉🏽 You need to have an understanding of where you're currently at and where you want to be spending wise and create a plan that incrementally gets you from one to the other, no more choosing budget limits at random and calling it a budget.

👉🏾 You are not just looking at spending (though that is very important), your budget also includes how you will accomplish your savings goals, investing goals, debt payoff goals, etc. all of which need to be factored in during the creation of the budget.

👉🏿 You can’t just set and forget it, that does nothing, you need to be continuously checking in, tracking your spending, reviewing your progress, and making adjustments where needed to keep you on track.

‼️ All of these in combination, work together to give you confidence in knowing exactly what’s going on within your finances at any point in time and that what you are doing is in alignment with whatever your bigger financial dreams are!

04/19/2022

Is this something you experience trouble doing for yourself?

Do you want to be able to create multiple options on your own for your own situation?

‼️ If so, that's exactly what I'm teaching inside of the Crushing your Financial Goals Masterclass!

Which is happening this week on Friday, so only a few more days to join us.

Link is in my bio!

Address

Orlando, FL
32801–32899

Website

http://juliakelsey.com/

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