Show Me The Money!

Take a peek into the financial lives of a few of our users.

How Marie (25) spends and saves her family's

$5,000

monthly take-home pay

Housing and Utilities

$1,688

34%

Groceries and household goods

$400

8%

Transportation

$283

5.5%

Tithing

$500

10%

Health Insurance and expenses

$124

2.5%

Gifts

$100

2%

Entertainment

$50

1%

Travel

$100

2%

Home Improvement

$100

2%

Saving for downpayment on a house

$1,155

23%

Roth IRA contributions

$500

10%

How we save our money

 

Monthly after-tax retirement contribution

(Roth IRA)

 

$1,000

 

Monthly savings contribution

 

$280

 

Current market value of investments

 

$33,825.19

 

Savings Account

 

$

 

How we spend our money

 

*This is about a weeks worth of credit card spending.

 

With our AMEX  Cash Preferred card, 

we earn 6% cash back at grocery stores.

 

We pay as many bills as we can using our Citi Double Cash credit card.

 

Our Citi credit card offers 2% cash back on all purchases.  

 

We like going out to eat.  DYM makes it easy to set aside money for the things we love.

 

We earn 3% cash back at gas stations with our AMEX card.

 

We are expecting a baby! We needed a lot of things.

 

Using both of our credit cards, we earn about $505 in credit card rewards each year.

 

How we save our money

 

Our monthly retirement contribution:

 

$500.00

 

Estimated value of our investments at retirement:

 

How we organize our money

 

We keep this balance at about  $600 to cover our deductible

 

Saving up for our first house

 

We earn 1.6% in interest on the money in our savings accounts at Ally bank.  This adds up to about $300 each year.

 

We bring home about $5,000 each month, then organize it in our other accounts as shown here.

 

The app helps us keep track of our bills.

 

Defend Your Money is helping us save for retirement, build credit and maximize our credit card rewards.  The best part is that it takes us less than 30 minutes a month.

To pay it forward we've agreed to share our financial life with you.  We hope it shows that with just a little bit of planning you too can begin towards working towards your financial dreams.

A money tip:  "Compound Interest is the 8th wonder of the world. He who understands it, earns it… He who doesn’t, pays it…”    

- Albert Einstein

 

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