Mint Is Not a Budget Tool

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Mint can be very helpful by tracking where you've been. But a budget is planning the future, and so mint will not help you do that. The distinction between a tracking tool versus a budgeting tool is the difference between im putting the food that you already ate into an ap, like my fitness pal, or lose it. It's the difference between making a plan for what you are going to eat to morrow, and in putting that, in a forward looking manner, right?

#362: David is questioning how to better manage his spending. He’d like a stronger framework to think through budgeting challenges.

Elisa and her husband bought a home, and now they’re saving extra income every month. She has a pension and her husband is an entrepreneur. How much should they be saving for retirement and how should they invest their extra money?

Geoff invested primarily in taxable brokerage accounts for the last twenty years. He’s built a $6 million portfolio and reached financial independence. He wonders about the smartest strategy for withdrawing from those taxable brokerage accounts to efficiently manage capital gains?

Jenna and her husband are planning on buying their next home in a few years. She wants to know if I-bonds are a good way to save for the down payment and closing costs.

Former financial planner Joe Saul-Sehy and I tackle these four questions in today’s episode.

Enjoy!

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