Budgeting Multiple Six Figures with CGS Client Rachel

06/03/24 • 49 min

While making a lot of money may seem like the answer to your problems, if you’re not managing it well, you won’t have anything to show for it.

Just ask my friend and City Girl Savings client Rachel.

When Rachel and I first started working together in January 2021, she was making well-over six figures but didn’t have a clue about where it was going.

Fast forward 3 years later and Rachel is making more than ever, saving, and investing more than ever and doing it all with a solid budget plan.

In this episode, Rachel and I are discussing how growing and budgeting your income, whether you’re making six-figures or not, can completely transform your life and finances.

Here's a glance at this episode:

[03:20] Rachel shares that she grew up in a single-parent home and described money as being tight and not talked about much.
[09:45] Even with making a good salary, Rachel feared looking at her bank app. She would avoid looking at the balance, especially after paying bills.
[17:00] Having Raya make a budget for Rachel allowed Rachel to release some pressure and focus on sticking to the budget that was designed for her.
[32:45] While Rachel doesn’t fully support “job-hopping”, she does agree that major salary increases come from a new role (whether in the same company or a new company).
[42:18] Some days you’re going to give a little more to work. Other days you can give a little more to your family. It will never be perfect.

Rate, Review, & Follow:

Did you love this episode? Are you a fan of the City Girl Savings podcast? If so, please consider rating and reviewing the show!

This helps spread the word about City Girl Savings, and hopefully helps more people make the best money moves possible on the way to their dream life!

To leave a review on Apple Podcasts, click here, scroll to the bottom, tap to rate with five stars, and select “Write a Review.” Then be sure to let me know what you loved most about the episode!

Also, please make sure you’re subscribed and following the City Girl Savings podcast on Apple Podcasts, Spotify, and YouTube!

Resources mentioned in this episode:

Join the City Girl Savings Facebook Group

Learn about Raya’s Financial Focus Coaching Program

Follow City Girl Savings on Instagram, YouTube, and TikTok

Subscribe to the City Girl Savings Newsletter!

While making a lot of money may seem like the answer to your problems, if you’re not managing it well, you won’t have anything to show for it.

Just ask my friend and City Girl Savings client Rachel.

When Rachel and I first started working together in January 2021, she was making well-over six figures but didn’t have a clue about where it was going.

Fast forward 3 years later and Rachel is making more than ever, saving, and investing more than ever and doing it all with a solid budget plan.

In this episode, Rachel and I are discussing how growing and budgeting your income, whether you’re making six-figures or not, can completely transform your life and finances.

Here's a glance at this episode:

[03:20] Rachel shares that she grew up in a single-parent home and described money as being tight and not talked about much.
[09:45] Even with making a good salary, Rachel feared looking at her bank app. She would avoid looking at the balance, especially after paying bills.
[17:00] Having Raya make a budget for Rachel allowed Rachel to release some pressure and focus on sticking to the budget that was designed for her.
[32:45] While Rachel doesn’t fully support “job-hopping”, she does agree that major salary increases come from a new role (whether in the same company or a new company).
[42:18] Some days you’re going to give a little more to work. Other days you can give a little more to your family. It will never be perfect.

Rate, Review, & Follow:

Did you love this episode? Are you a fan of the City Girl Savings podcast? If so, please consider rating and reviewing the show!

This helps spread the word about City Girl Savings, and hopefully helps more people make the best money moves possible on the way to their dream life!

To leave a review on Apple Podcasts, click here, scroll to the bottom, tap to rate with five stars, and select “Write a Review.” Then be sure to let me know what you loved most about the episode!

Also, please make sure you’re subscribed and following the City Girl Savings podcast on Apple Podcasts, Spotify, and YouTube!

Resources mentioned in this episode:

Join the City Girl Savings Facebook Group

Learn about Raya’s Financial Focus Coaching Program

Follow City Girl Savings on Instagram, YouTube, and TikTok

Subscribe to the City Girl Savings Newsletter!

Previous Episode

Simplify Your Money Situation in 6 Steps

As hard as it may be for you to believe, money doesn’t have to be complicated.

Sure, there are complexities with anyone’s money situation, but there are always opportunities to simplify.

Don’t make things more complicated than they need to be, especially your money!

Wherever you can simplify and reduce complexity with your money, take full advantage.

Not sure where to start?

In this episode, I’m sharing a few ways you can simplify your money situation and keep things as simple as possible.

The easier you make things in your finances, the more brain power you can give to working on your financial goals!

Here's a glance at this episode:

[02:27] You should always know where your money accounts are and where you stand with those accounts.
[05:03] Include automation in your money situation. Automate your savings, direct deposit, or retirement contributions.
[07:45] Find a budgeting method that works for you. Raya walks through the 50-30-20 budget rule, which could be helpful for budget newbies.
[12:01] Spreading your resources across multiple goals may slow your progress towards all your goals. Focus on 1-2 goals at a time.
[15:17] Functioning in the negative with your income and spending is a recipe for disaster. Focus on breaking even every month, at minimum.

Rate, Review, & Follow:

Did you love this episode? Are you a fan of the City Girl Savings podcast? If so, please consider rating and reviewing the show!

This helps spread the word about City Girl Savings, and hopefully helps more people make the best money moves possible on the way to their dream life!

To leave a review on Apple Podcasts, click here, scroll to the bottom, tap to rate with five stars, and select “Write a Review.” Then be sure to let me know what you loved most about the episode!

Also, please make sure you’re subscribed and following the City Girl Savings podcast on Apple Podcasts, Spotify, and YouTube!

Resources mentioned in this episode:

Listen to CGS Podcast Episode 21 – Setting Up Your Own Financial Filing System

Let Raya create a budget plan for you!

Learn about Raya’s Financial Focus Coaching Program

Follow City Girl Savings on Instagram, YouTube, and TikTok

Join the City Girl Savings Facebook Group

Subscribe to the City Girl Savings Newsletter!

Next Episode

5 Ways to Take Your Savings Strategy Up a Notch

While saving money just to save is better than not saving any money at all, you could be missing out on opportunities to maximize your savings efforts.

When it comes to saving money, you’ll want to implement a strategy that sets you up for success.

You may already have that strategy, or it may need to be tweaked.

In this episode, I’m sharing 5 ways you can take your savings strategy up a notch and guarantee yourself the best results with your money-saving efforts.

Here's a glance at this episode:

[02:35] Naming your savings account to match the goal you’re saving for, you’re more encouraged to avoid spending that money.
[06:29] Depending on what you’re saving for and how long it will take to reach that goal, you may want a specific type of account as you save for that goal.
[10:14] High Yield Savings Accounts are great options for saving for any type of goal because you’ll earn more interest than with a regular savings account.
[13:54] As you make progress towards your savings goals, make sure you reward yourself for wins along the way.
[16:45] It’s so easy to want to do everything at once, but you could be spreading your resources too thin and delaying your progress.

Rate, Review, & Follow:

Did you love this episode? Are you a fan of the City Girl Savings podcast? If so, please consider rating and reviewing the show!

This helps spread the word about City Girl Savings, and hopefully helps more people make the best money moves possible on the way to their dream life!

To leave a review on Apple Podcasts, click here, scroll to the bottom, tap to rate with five stars, and select “Write a Review.” Then be sure to let me know what you loved most about the episode!

Also, please make sure you’re subscribed and following the City Girl Savings podcast on Apple Podcasts, Spotify, and YouTube!

Resources mentioned in this episode:

Listen to CGS Podcast Episode 76 – Breaking Down My Savings Accounts and Strategies

Let Raya create a budget plan for you!

Learn about Raya’s Financial Focus Coaching Program

Follow City Girl Savings on Instagram, YouTube, and TikTok

Join the City Girl Savings Facebook Group

Subscribe to the City Girl Savings Newsletter!