Wow! Good for you Leila. Debt free and contributing a large portion of your income into your retirement accounts early in life. I always say, it isn’t rocket science and those simple and sound financial principles alone will make you very wealthy. That net worth graph you have will climb even steeper as the compounding effect kicks in over the years. Again, congratulations and keep up the good work! 🎉
@@haha-cm6pgshe never said that she is going to put that much each month to 401k specifically. Probably planning to max out 401k as soon as possible and investing in something else after
I got my bonus in Feb as well. I’m very boring, it all went to my Roth IRA to max. I also upp’ed my T401k contribution % to lower my taxes for the extra income, I want to max it by June. When I get my tax refund, I’m gonna be just as boring, it’s all going into my brokerage account. I should add my husband is just as boring, he’s splurging in his Roth as well and made us a fancy dinner & extra treats for our cats. We’re wild, aren’t we. 😂
Yeah. I have never gotten on board with pet insurance. And I worked as a registered vet tech for years. Several reasons for this, but the first being, if it wasn’t profitable for the insurance companies, they wouldn’t do it. Second, comparatively, veterinary care in the south is cheaper than many other places in the nation (where I personally feel pet insurance could be worth it). Thirdly, the vast majority of veterinary practices offer some kind of financing through companies like care credit who will always offer a certain time period to pay off larger expenses interest-free. So, if you’re a person who has a good credit score and has their finances in order (and you definitely are) then this is a great back-up option for those “what if” scenarios. And lastly… if you do have significant saving set aside for emergencies, and those of us in this community typically do, then we always have the option to dip into that savings for a pet emergency, if you don’t choose the care credit route. 🤷🏻♀️ I’m not saying no one should have pet insurance… I just feel that it’s not a good value for everyone. Just depends on the situation. 😊
We have insurance for 3 cats, it’s definitely not cheap. But two years ago we got our money back when one cat fell down the stairs, broke her fang, had to be rushed to the urgent care. A month later, another cat started having stomach issues, had to be taken to urgent care for scans and treatment. Then, another cat broke into the vitamin cabinet and OD on vitamin D gel capsules, had to get her stomach pumped, IV flush, hospitalized for a week in urgent care. We clearly paid quite a few thousands that year but was reimbursed for most. That itself paid for insurance for at least a few years.
Hey Leila! I‘ve been quietly following you on RUclips since 2019 and your budgeting videos have also inspired me to get my finances in ordner. It‘s such a game changer to have a budget and to know where your money goes. I have a question or I want to share my thoughts on something. You have your car insurance SF listed with your savings on the right side with your work income. Once you take your sabbatical you still have to pay for car insurance. Right now you pay twice a year I think (or yearly) and your SF is there to cover it. That won‘t go away once you take your business full time. So I think you should put that SF to your living expenses on the left side and your business income should cover it … Anyways love your content! 😍
Today is "opportunities to invest and save day" formerly known as "payday". We put $1100.00 into our 401K and $300 into our taxable brokerage account. Going to punt on anything else, i'm going to LA for next week for a trade show.
So proud of you Maritza! All of the various mathematical formulas aside, call if what you will but removing the stress of debt and the uncertainty to creates in our lives, that peace you now own lives outside of the math. It's on an entirely different plane. So proud of you!
Hi Leyla, I love your videos and I don't missed them at anytime. I just wanted to give you a quick point of view related to your payroll vs. distribution. I am an accountant and I don't know exactly how you feel related to your business expenses, but by making distributions you are loosing the tax advantage to lower your business income and you will pay income tax on any distribution in excess to your basis on your 1040. Maybe you are trying to not overpay on your payroll taxes, which is considerable, but you will be losing the employer tax benefit on your business side. Again, I cannot tell you for sure if that will be the best strategic for your, but its something to consider. Thank you so much for your videos, I can relate a lot to your progress and keeps me motivated with mine. Always wishing you the best ❤
Insurance in general has jumped around 25%. We have a couple houses. The insurance DOUBLED on both. Ugg. I need insurance to pay all my insurance if I get sick.
Suck it up... and hire a CPA / accountant for just a few months to learn exactly the best way to structure taxes and expenses for your business. Look at it as an investment for your business intelligence. 👍
miss your income report videos, found them extremely useful to give me ideas into how to get some side income, any chance you will be bringing them back this year ?
For insurance, my husband and I became domestic partners (before getting married) which allowed me to add him to my insurance. Maybe your boyfriend would be able to do something similar?
I get my bonus in March too! Using part of it to take me and my husband to a $500 dinner 😅
@@SweetPotata10 which high yield account will give you 20% in 4 months?
Great budget😊 we are going on vacation for a week all paid no credit card. Going to continue decluttering & selling if possible. 😊❤😊
Get a heated blanket, works better than a space heater in my opinion!
Wow! Good for you Leila. Debt free and contributing a large portion of your income into your retirement accounts early in life. I always say, it isn’t rocket science and those simple and sound financial principles alone will make you very wealthy. That net worth graph you have will climb even steeper as the compounding effect kicks in over the years. Again, congratulations and keep up the good work! 🎉
Thank you so much!!
Thanks for sharing the business side! Its interesting to see!
OMG! Almost 3k going to 401k!!! Thats amazing!
She cannot put that much on 401k. Limit is $23500 per a year for her age.
@@haha-cm6pg She can contribute as fast as she wants until hitting that number.
@@haha-cm6pgshe never said that she is going to put that much each month to 401k specifically. Probably planning to max out 401k as soon as possible and investing in something else after
I got my bonus in Feb as well. I’m very boring, it all went to my Roth IRA to max. I also upp’ed my T401k contribution % to lower my taxes for the extra income, I want to max it by June. When I get my tax refund, I’m gonna be just as boring, it’s all going into my brokerage account. I should add my husband is just as boring, he’s splurging in his Roth as well and made us a fancy dinner & extra treats for our cats. We’re wild, aren’t we. 😂
Yeah. I have never gotten on board with pet insurance. And I worked as a registered vet tech for years. Several reasons for this, but the first being, if it wasn’t profitable for the insurance companies, they wouldn’t do it. Second, comparatively, veterinary care in the south is cheaper than many other places in the nation (where I personally feel pet insurance could be worth it). Thirdly, the vast majority of veterinary practices offer some kind of financing through companies like care credit who will always offer a certain time period to pay off larger expenses interest-free. So, if you’re a person who has a good credit score and has their finances in order (and you definitely are) then this is a great back-up option for those “what if” scenarios. And lastly… if you do have significant saving set aside for emergencies, and those of us in this community typically do, then we always have the option to dip into that savings for a pet emergency, if you don’t choose the care credit route. 🤷🏻♀️ I’m not saying no one should have pet insurance… I just feel that it’s not a good value for everyone. Just depends on the situation. 😊
We have insurance for 3 cats, it’s definitely not cheap. But two years ago we got our money back when one cat fell down the stairs, broke her fang, had to be rushed to the urgent care. A month later, another cat started having stomach issues, had to be taken to urgent care for scans and treatment. Then, another cat broke into the vitamin cabinet and OD on vitamin D gel capsules, had to get her stomach pumped, IV flush, hospitalized for a week in urgent care. We clearly paid quite a few thousands that year but was reimbursed for most. That itself paid for insurance for at least a few years.
Hey Leila! I‘ve been quietly following you on RUclips since 2019 and your budgeting videos have also inspired me to get my finances in ordner. It‘s such a game changer to have a budget and to know where your money goes.
I have a question or I want to share my thoughts on something. You have your car insurance SF listed with your savings on the right side with your work income. Once you take your sabbatical you still have to pay for car insurance. Right now you pay twice a year I think (or yearly) and your SF is there to cover it. That won‘t go away once you take your business full time. So I think you should put that SF to your living expenses on the left side and your business income should cover it …
Anyways love your content! 😍
Today is "opportunities to invest and save day" formerly known as "payday". We put $1100.00 into our 401K and $300 into our taxable brokerage account. Going to punt on anything else, i'm going to LA for next week for a trade show.
100% Still can’t believe I’m debt free. I have peace 😊
So proud of you Maritza! All of the various mathematical formulas aside, call if what you will but removing the stress of debt and the uncertainty to creates in our lives, that peace you now own lives outside of the math. It's on an entirely different plane. So proud of you!
Always enjoy your insights, I think you sell your short, when you say you don’t explain well. It always makes sense to me.😊Here’s to a Lucky 🍀 March.😊
Hi Leyla, I love your videos and I don't missed them at anytime. I just wanted to give you a quick point of view related to your payroll vs. distribution. I am an accountant and I don't know exactly how you feel related to your business expenses, but by making distributions you are loosing the tax advantage to lower your business income and you will pay income tax on any distribution in excess to your basis on your 1040. Maybe you are trying to not overpay on your payroll taxes, which is considerable, but you will be losing the employer tax benefit on your business side. Again, I cannot tell you for sure if that will be the best strategic for your, but its something to consider. Thank you so much for your videos, I can relate a lot to your progress and keeps me motivated with mine. Always wishing you the best ❤
@@Anita-p11 That makes sense, thank you for your reply.
Insurance in general has jumped around 25%. We have a couple houses. The insurance DOUBLED on both. Ugg. I need insurance to pay all my insurance if I get sick.
Suck it up... and hire a CPA / accountant for just a few months to learn exactly the best way to structure taxes and expenses for your business. Look at it as an investment for your business intelligence. 👍
miss your income report videos, found them extremely useful to give me ideas into how to get some side income, any chance you will be bringing them back this year ?
I still make them every month!
I get pay once a month can you help set like a plan? Or do you have that already? Could you guide me there?
Do we need to change phone number if I go with Mint Mobile??? I wanna make the change but worry about the hassle 😅
@@krystal_mahealani_ that’s nice to know. Thank you for the response.
Yeah exactly what Krystal said! I've had the same number my whole life ☺️
For insurance, my husband and I became domestic partners (before getting married) which allowed me to add him to my insurance. Maybe your boyfriend would be able to do something similar?
Georgia doesn't allow for domestic partnerships 😩
@@PersonalFinancewithLeilaUGH, I'm sorry!
My pets insurance went up $15 dollars this month.
Yeah ours said it went up because of our dogs age and inflation 🙄
🙏🙏🙏🙏🙏🙏💔💔💔💔💔🙏🙏🙏🙏🙏🙏🙏