Episode #002 Money

Today, Kim and Kelsey will talk about money budgeting, credit cards, saving money, wants vs. needs, and a couple of apps that we really enjoy!

Money by Pink Floyd


What is budgeting?

- looking forward to what you're going to earn and need to spend on average, then dividing up what you're expecting to earn to be put into the categories that you spend on average.
- You are telling your money where to go and have control over it
- Takes away the guilt of spending, NO BUYER'S REMORSE!
- Learning how to live below your means, aka: not living paycheck to paycheck
- Emergency funds are IMPORTANT


Useful Apps


- safe and secure
- connects to your bank account to help you see where your money is going.
     - it helps with budgeting, allows for you to input your budget
- sometimes miscategorizes things, but there is an option to change it


- Connects to your bank account.
- set up categories of things you want to save up for
- different kinds of rules applied to withdrawing money. 
     - Don't be afraid to get creative with them!
Kim's Referral link (We both get $5!)



- Similar rules as Qapital, but not as many
- Need $5 to start your account
- It is an investment portfolio that they put together for you based on a fun little quiz
    - If you change your portfolio, they will sell those shares for you
- They provide SO much information on learning how shares and stocks work on their website and app
- You earn interest over time! AKA: FREE MONEY
- You have access to your money anytime
Kelsey's Referral link (We both get $5!)


Why should we even save money?

- We are called to be good stewards (be wise with) of what He's given us, including money



- They can be dangerous and you need to be careful!
- Don't by something that you don't have the cash to pay for it
- Please try not to use it as an emergency fund
- They are not a savings account
- They are cards that allow the bank to pay for something and you promise to pay them back
- Get a credit card from where you bank
- Look into cards that give you rewards like 1.5% cash back on every purchase or 5% cash back on certain categories each quarter
- Should be used to make a more secure way of making payments because it's really secure
- Ya really need a credit score in this world
- #adulting
- They're not for everyone, but if you've really considered it, prayed about it, done research, talked to your parents/spouse, then by all means.


Shopping! (Wants vs. Needs)

- Putting limits on yourself like how much you'll spend or certain items that you need
- Keeping up with the Kardashians: People that we look up to, admire, and want what they have to keep up with them.
- We shouldn't be trying to keep up with other wanting what others have. That's coveting, and it's a heart issue that leads to discontentment and comparison.
- We need to be responsible enough to look at our hearts and evaluate if its something that we truly need or is it something that I want that I think will be "better, elevate my status, make me happy" 


- Our heart is sinful and we don't need to be told to love our money
- Tithing is a good way to stay humble about your finances
- We tithe out of a glad heart, if you're not giving with a glad heart, God doesn't want it.


Don't forget to say hi!

Instagram: @oh_kimmy_ || Twitter: @oh_kimmy || Facebook: @0h_kimmy_ (that is a zero, not an "o")
Website: ohkimmy.com

to Kelsey:

Instagram: @kelsopedia || Twitter: @kelsopedia
Blog: kelsopediasblog.wordpress.com

SoundCloud: https://soundcloud.com/shebrews

iTunes Podcast: https://itunes.apple.com/us/podcast/shebrews/id1338950730?mt=2&i=1000400464054

Click here to listen on Google Play


Kimberly FowlerComment