The Personal Finance Podcast 25 Things to Do With Your Money In 2025 Part 2
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Jan 13, 2025 Explore the importance of educating your family about financial safety to guard against scams. Discover how to balance discretionary spending with long-term financial goals while creating wills for effective asset management. Learn strategies to manage holiday spending and tackle debt, especially during the festive season. Emphasize the need for a solid financial foundation through the 136 method and the creation of an emergency fund. Prioritize health and stay informed on financial literacy to build a secure future in 2025.
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Lifestyle Creep Assessment
- Assess your lifestyle creep by reviewing income growth and spending over the past five years.
- Identify areas where spending has increased significantly and evaluate if those increases bring you value.
Three-Paycheck Months
- If you're paid bi-weekly, leverage three-paycheck months for wealth building.
- Treat these extra paychecks as bonuses for retirement, debt reduction, or savings goals.
Holiday Debt
- Start saving for holidays now to avoid debt next year; treat it like a bill.
- If you have existing holiday debt, prioritize high-interest debt and create a repayment plan.