The Money with Katie Show How to Set Up Money Management Systems for Short-Term & Long-Term Goals
7 snips
Aug 10, 2022 AI Snips
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Episode notes
Systems Define Financial Success
- Systems, not goals, determine your financial success.
- Habits create consistent results, just like routines improve health.
Forgotten Items Cost More
- Katy forgot essentials during a trip and paid inflated prices at the airport.
- Such forgetfulness leads to predictable unexpected spending due to lack of planning.
Set Up Short-Term Savings
- Build separate short-term savings for emergencies and recurring expenses.
- Automate monthly transfers to cover predictable costs like insurance and maintenance.