My Guest on the Show…
There’s no guest this week. It’s just me, myself, and I!
Well, are you about to freak out yet?
Because we are about a week away from Christmas and the spending is in full force right about now. In fact, did you know the average American family will spend over $845 in 2018 and closer to $1,000 in 2019?!
I am not saying you shouldn’t spend that much this Christmas. I say if you have the money and want to spend it – by all means, go right ahead!
But what if you don’t have the money? What if the holiday season sneaks up on you and the only option is to put it all on a credit card? If you remember from last year, this means you’ll be making credit card payments for Christmas in July.
The Solution: This week I am sharing with you our little SAVINGS HACK for the big expenses in life. Christmas, vacations, emergencies, new cars or any other big expense you can anticipate.
If you start what we are talking about this month, you’re going to really enjoy spending money this time next year because you’ll have the money set aside.
And when the vacation comes up you want to go on, you’ll have the money set aside.
Or when the hot water heater goes out, you’ll have the money set aside.
Whatever large expenses you have, you’ll have the money set aside.
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Smart Money Academy
The Money Peach Podcast is brought to you by my live coaching program, Smart Money Academy.
Smart Money Academy is not an online course, but rather a live coaching program showing you how to budget, how much to save, how to manage your debt payoff, when to save for retirement, and how to build a legacy to last beyond your lifetime.
Mentioned in this Episode
Best Online Banks:
CIT Savings Builder – Earn the highest APY when you save $100/month OR have a balance of $25,000
**The links above are affiliate links. This means Money Peach is a partner with CIT Bank and they can send a commission for using one of the above links. It doesn’t cost anything more or less for you but allows Money Peach to fund this podcast. Thank-you for your support!
Earning interest instead of paying interest [1:36]
Chris’ savings hack [3:25]
Earning 20X interest on your savings [4:36]
Chris’ 8 sinking funds [5:56]