I teach you how to master your money in less than 5 minutes per week. I am the host of The Personal Finance Podcast with 400K downloads monthly and the Founder of Master Money.
My EXACT Money Routines
What’s Poppin’,
This is the Master Money Newsletter where we teach you how to master your money in less than 5 minutes a week. We are the CD mixtape of personal finance, only the hits.
Here’s what we have on deck today:
- My money routines that you can copy
- Student Loans are cancelled.
- How to Save More Chedda’
Open any medium article or self-help Youtube channel and they all talk about their daily routines. I tell you what, I am a sucker for a good ol’ routine.
There’s no shortage of advice from deep work, Pomodoro techniques, and time blocking.
Heck, there are entire books on this stuff.
Ya’ boi isn't here to tell you that you need to wake up early, take cold showers, or roundhouse kick a heavy bag every morning to be successful. I am here to lay out a framework so you can accelerate your path to wealth.
Enter the money routine.
WTF is a money routine you ask?
It’s a way to stay on top of your money so you don’t stress or worry about this stuff. Here are mine:
1/ Daily Routines: The only way to achieve any goal is to break it down into daily actionable steps. Here’s what I do:
Budgeting: I budget daily. It takes me 2 min and feels effortless this way. Make sure that the burrito you bought yesterday has been moved to your “screw this diet fund”.
Daily Goal review: You know the drill. Reviewing your goals daily is proven to make you 1.4x more likely to achieve that goal. I’m no neuroscientist but that seems like a pretty dope outcome to me (who says dope anymore).
2/ Weekly Routines: This is where the chedda’ meets the bank account.
Pay off Credit Cards: I pay off my credit cards weekly like a wacko. Not because it helps my credit score, but because I like to keep those balances under control. If overkill keeps my stress level down, I’m in.
Make Sure My Money’s Right: Cuba Gooding JR. wasn't wrong when he said “Show me the money!?” Ask yourself: “Who paid me or needs to pay me?”. I check that weekly.
3/ Monthly Routines: Let’s make sure we are on track.
Meet with your partner or spouse: Every month my wife and I meet to talk about stackin’ cash. We may pop open a nice bottle of Vino to make it fun. We talk about investments, goals, and spending plans. This helps us make sure we are on the same page.
How it started:
How it's going:
Review Your Investments: Make sure you have hit your investment goals for that month. Consistently investing every month is the key to building wealth.
4/ Yearly Routines: Set the tone
Every year we have a number of things that we do. They include:
- Checking our net worth and making sure that it is growing.
- Converting IRAs to Roth IRA’s.
- Setting Goals for the next year.
- Taxes.
- Business Reviews.
Bonus: We have an episode that talks about the year-end money system I use.
In the News 📰
If you have Federal student loans. It's time to pop champagne.
The Biden administration is forgiving up to $10,000 in federal student loans for those making less than $125,000 a year for individuals or $250,000 for married couples or heads of households and up to $20,000 for Pell Grant recipients who meet the income threshold.
Private loan holders are not included in the plan.
Most borrowers would need to apply for the program online, according to StudentAid.gov, which noted that an application will become available “in the coming weeks.”
They are also extending the payment freeze one more time until December 31, 2022.
August 24th 2022
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Here is the complete breakdown from the White House:
10 Second Tip of the Week ⌚
Wanna save more? Increase your savings by 1% every month or quarterly until you hit your goal. You won’t feel the difference.
How to Manage Every Paycheck (By Age!)
What to do next?
Get ready to Index Fund Pro. Our flagship course that will teach you how to invest in Index Funds and ETF's. We plan to launch in September!
Listen to our latest Podcast Episode:
Why Your First 100K is The Hardest (The Math That Explains Why)
Thank you for reading the first edition of the Master Money newsletter. If you got value share this with a friend!
Master Money
I teach you how to master your money in less than 5 minutes per week. I am the host of The Personal Finance Podcast with 400K downloads monthly and the Founder of Master Money.