Are your kids the secret budget-buster keeping you from wealth? Find out in today’s episode!

Article: https://myfirstnestegg.com/articles/how-much-should-you-really-spend-on-kids-activities-a-financial-guide-for-parents/

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Imagine a future where you're living comfortably because you made smart decisions about your retirement savings now. That's the promise we're making in today's episode of the Savvy Budget Girl podcast. We're exploring the reasons you might be tempted to dip into your retirement savings early and why you should resist it. We're also distinguishing between taking a loan and withdrawing from your retirement account and the potential tax implications.

Have you heard of the term 'hardship withdrawal'? We explain what the IRS considers a hardship and the conditions that might allow one to access funds without penalty. But remember, always consult with a tax advisor. We then move on to the subject of 401k loans, dissecting the allure of quick cash and the pitfalls that come with it. It's all about equipping you with the knowledge to make the best financial decisions for your future.

Ready to launch your podcast for fun and profit? Click the link below or contact me on IG at @savvybudgetgirl!

Resources from today's episode:

https://www.fidelity.com/viewpoints/financial-basics/taking-money-from-401k

https://www.debt.org/retirement/401k-loan/

https://www.investopedia.com/financial-edge/1112/average-cost-of-an-american-christmas.aspx

https://wendycoop.as.me/podcastlaunch

Recorded live at Podcast Movement 2023 in Denver!

Are you constantly racing against time, feeling like budgeting is a luxury you can't afford? You needn't compromise your financial health due to time constraints, and I'm here to show you how. Welcome to this episode of Savvy Budget Girl, where we discuss practical, time-efficient budgeting strategies that can work for even the busiest individuals.

We delve into the benefits of a zero-based budget and the pitfalls of leaving money unallocated. Whether you're a techie who loves using budgeting apps like Mint and YNAB, or you prefer the old-school pen-and-paper method, we've got tips for you. We also discuss the merits of automatic savings, the 50-30-20 rule for budgeting, and techniques like cash envelopes for discretionary spending. And if you're a foodie, we've got some smart advice on meal planning and grocery shopping that can help you avoid splurges and save more. Tune in to take control of your finances today!

Complete show notes at http://savvybudgetgirl.com