My Stress-Free Budget | Debt-Free and Career Transition from Finance to Product Design

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Күн бұрын

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@daniellee3530 4 жыл бұрын

this is dope - love the animations. would be interested in seeing more concrete examples - how you decide timing or weight of categories

@StukimDesign 4 жыл бұрын

Thanks for checking out the video! I project/estimate long but tweak and adjust things to get stuff down to a manageable monthly commitment. It could be helpful for you to start with the things you can estimate with the most certainty and work your way down from there. Here are a few loose examples: Auto Insurance (most certain) -> GEICO bills me several hundred dollars every six months. I know how much it’s going to be so I divide that by six and boom! Auto maintenance (Somewhat certain) -> I consider I’ll need a tire change or full brake/rotor replacement in a couple of years (Edmunds.com has general projections too). I then calculated a scenario where I pay all cash for a new/used car in about 10 years (general expected life of a car). I figured out the monthly payment for those two scenarios then tried to pick an amount that I can commit to saving each month. Honestly, early on, I wasn’t even close, I just started putting 20 dollars per month into this and increased it over time. Now I put several hundred in here everything month. I need to double check if I’m on track with that savings rate though. Out-pocket-medical (loose) -> Depending on your insurance, this will vary but the why I do it ( because I have kids) is I figure out what my out-of-pocket maximum is then try to save up to that amount for the year. Alternatively, if you’re very healthy and not have to worry about family, you can just save for the annual checkup and maybe the occasional emergency room/urgent care visit. The rest might be your own person goal setting. For instance, I just pick a number for gifts, travel, etc. Hope this helps! Let me know if you want more info. More than happy to share. I love this stuff.