Life Kit Life Kit answers your personal finance questions
24 snips
Jun 2, 2022 
Willa Williams and Wesleya Eccles, co-owners of Trinity Financial Coaching, dive into the financial concerns of professional women. They discuss how to balance life with wealth building, from saving for vacations to retirement planning. Key topics include strategies for sharing finances as a couple, navigating the shifting real estate market, and building generational wealth through smart savings. Listeners gain valuable insights into effective budgeting and the importance of financial communication in relationships.
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Multiple Savings Accounts
- Maggie should have at least two savings accounts: one for short-term and one for long-term goals.
- Automate savings by setting up automatic transfers to each account.
Sinking Funds and Bi-Weekly Pay
- Use sinking funds for occasional expenses like travel, gifts, or clothing to avoid credit card debt.
- People paid bi-weekly get two extra checks yearly; plan for them.
Saving for Children
- When saving for children, consider the goal for the money, as it determines the suitable account type.
- Custodial accounts, 529 plans, and Roth IRAs are options for kids' savings.