This week a Listener Recommendation for a new budgeting app and a question about retirement investments leads us to a lengthy discussion on budgeting wins and fails. Using free software and a free retirement checklist are obviously a good choice as it requires no money and budgeting successfully is our goal. How can you stay faithful in a room full of clothes?! Well, it isn’t easy but someone’s gotta do it, so it might as well be us (Millennials). Tune in to hear how Rich and WIM avoid buying big rims and 80 gold rings, most weeks.
Anyway, I’m behind like one week but a really good app (far better than Mint IMHO) is Level. You link your account (s), tap transactions that are bills and it will automatically track your spending and let you know when you’re overspending. It will also let you know how much to save a month, set up personal trackers for specific types of purchases like coffee or vacation and it will automatically track the transactions as you go. It was helpful when I needed to figure out where to cut back in order to pay off a credit card. Really intuitive and simple. One last thing, are you guys ever going to talk about investing as a means to saving/accumulating wealth for retirement or anything really.
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