Payday routine rebuilding our emergency fund

@amy.coul

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Why it worked

The video provides a clear and relatable breakdown of personal finance management, specifically focusing on rebuilding an emergency fund, which resonates with viewers seeking financial guidance.

Summary

The creator details their monthly payday routine focused on rebuilding their emergency fund after a car purchase. They break down their income, essential bills, expenses, and savings allocations, emphasizing the importance of prioritizing the emergency fund.

Structure

1Introduction to payday routine and goal of rebuilding emergency fund
2Income breakdown and self-employment income fluctuations
3Paying essential bills first
4Setting budgets for expenses and savings
5Allocating funds to the emergency fund as a priority

On-screen text

Payday routine rebuilding our emergency fund INCOME INCOME NAME Jarad Income Amy Base Income Amy Extra Income PAYDAY Jul-1 Jul-1 Jul-1 AMOUNT $6,103.15 $4,000.00 $4,000.00 LEFT TO SPEND $14,103.15 BILLS NAME Mortgage Home Insurance Phone Plans Internet YouTube Offset Account Fee BUDGET $4,480.00 $262.78 $45.00 $60.00 $25.99 $10.00 EXPENSES NAME Groceries Fuel Shopping BUDGET $750.00 $200.00 $200.00 SAVINGS NAME Rates & Utilities Health Car Expenses Finn + Winston Travel Gifts Fun House Business Emergency Fund Extra House Payment New Car Annual subscriptions/fees BUDGET $474.46 $585.98 $600.00 $200.00 $0.00 $216.67 $400.00 $200.00 $50.00 $5,000.00 $0.00 $0.00 $45.00

Original caption

First monthly payday routine of the new financial year 💻💸 The main goal is rebuilding our emergency fund after we cleaned it out with a car purchase 🫠🚗

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Transcript

First monthly payday routine of the new financial year. The main goal is rebuilding our emergency fund after we cleaned it out with a car purchase. So I'm self-employed and my income fluctuates, so I generally pay myself $4,000 a month from my income account as a base and then when it starts to build up, I give us some extra. So this month we had a combined income of $14,103.15. Covering the bills always comes first, so that's anything coming out of our account, whether we like it or not. Then we set our budget for expenses like food and fuel. Once we have the non-negotiables covered, we move over to the savings fund. We keep the money in the one offset account but budget it out on a spreadsheet, so we know how much we have to spend. And then we allocate $5,000 to the emergency fund. So this month we're allocating $5,000 to the emergency fund, and that will be the focus until we've rebuilt our emergency fund.