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1️⃣2️⃣weeks until Christmas!! 😱🎄 how

1️⃣2️⃣weeks until Christmas!! 😱🎄 how are you preparing to NOT go into debt this Christmas??

If you start today, you could save $50 per week and have $400 total saved by Black Friday. Buy all your gifts that weekend, then spend all of December STRESS-FREE and DEBT-FREE because all of your gifts are ordered and you’re ready to go.

💬comment below: Will you try it?

✅friends helps friends build wealth and avoid debt at Christmas. Share this!

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Follow 👉🏻 financiallyengaged to learn how to

Follow 👉🏻 financiallyengaged to learn how to build wealth from two CPAs

We’ve both had “9-5”s our entire careers, and we’ve kept them for many reasons. They offer so much more than just our salary, they offer: growth opportunities, connection to talented people, health benefits, paid vacation, bonuses, 401k match. The list goes on.

The key is to find a 9-5 that gives you as much value as you give them. After all, you do dedicate 40+ hrs per week to it, so we hope that it’s something worthwhile.

💬Comment below: are you a fan of the 9-5 or do prefer the side hustle culture?! or both!? No right answer.

✅Friends help friends build wealth. Share this with your 9-5 BFF.

-Hannah & Brady

#personalfinance #financialeducation #financialliteracy

Follow 👉🏻 financiallyengaged to learn how to

Follow 👉🏻 financiallyengaged to learn how to build wealth from two CPAs!

Once you learn this, you can’t UNlearn it.

Yes, savings accounts have a purpose: they’re great for your emergency fund and any savings goals you have in the next 1-5 years.

But for literally everything else? We invest.

✅Friends help friends build wealth. Share this! And follow financiallyengaged for more 🎉

This example assumes you have a regular savings account which has an interest rate of .01%, and assumes you invest in a standard S&P 500 index fund getting an average 8% return on your investment.

-Hannah

#personalfinance #financialliteracy #financialeducation

Follow 👉🏻 financiallyengaged to learn how to

Follow 👉🏻 financiallyengaged to learn how to build wealth from two CPAs!

A little more background on this couple:

☑️Their debts have the following interest rates:
Student debt 2.8%
Car loan 2.9%
Mortgage 2.37%
Land Loan 5.25%

☑️Their investments are the following:
Traditional 401k contributing 7%, employer match of 5%
Roth 401k contributing 8%, employer match of 3%
Roth IRA contributing $100/month
529 plan for 4 yr-old daughter $200/mo
529 plan for 1 yr-old son $200/mo

We LOVE how they’re hitting their 401k match and have low interest rates on their debts

✅How we’d use the $2,975 Leftover:
-We would prioritize making extra payments to the land loan because it has the highest interest rate (5.25%). We plugged this into our Debt Payoff Plan, which showed that if they paid an extra $1,000/month, they would pay it off in July of 2026 instead of April of 2052 (314 months sooner)!

-They are within the income limits for a Roth IRA, so we would open up a Roth IRA for the spouse that currently doesn’t have one and have each person max it out ($500 / month each, for $900 total additional contributions since they already contribute $100/month).

-Their kiddos are so young, and they’re already contributing $200 per month. At this rate, it will likely grow to over $80k per child. They’ll have to determine if this is sufficient for what they will need/want at that time and adjust the monthly contributions accordingly, personally, we wouldn’t increase this at this time. You can easily use the compound interest calculator at investor.gov to play around with the numbers.

-This leaves $1,075 for them to put into a high yield savings account to start building up their $20k savings goal to build their home. At this savings rate, they would reach their $20k goal in just over 18 months.

💬: In the comments below, share what you think! Be kind, this is a real couple, so only leave respectful feedback.

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-Hannah & Brady

*This is financial education and for entertainment purposes only. This is not financial, legal, or tax advice.

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