#2 - Budgeting for High Earners: Strategies to Combat Lifestyle Inflation and Automate Savings

S1 E2 • Nov 15, 2024 • 7 mins

Michelle Tandler tackles budgeting strategies tailored for high earners, focusing on understanding and managing lifestyle inflation. She introduces the "pay yourself first" strategy and explains the 50/30/20 rule for automating savings and investments. The episode provides practical tips for effective budgeting and controlling lifestyle inflation. Michelle wraps up by guiding listeners on how to craft a personalized budget and offers a sneak peek into the next episode.

Key Points

Budgeting for high earners is essential to ensure that money aligns with personal values and goals, preventing lifestyle inflation.
Automating savings and investments helps high earners prioritize wealth building and reduces the risk of human error and procrastination.
Using the 50/30/20 rule and setting limits on discretionary spending helps manage finances effectively while allowing for enjoyment and long-term financial growth.

Speakers

Michelle Tandler

Host • 100%

Chapters

0:00	Introduction to budgeting for high earners
1:09	Understanding lifestyle inflation and pay yourself first strategy
2:10	Automating savings and investments with the 50/30/20 rule
3:38	Tips for managing lifestyle inflation and budgeting effectively
5:27	Crafting a personalized budget and teaser for next episode

Transcript

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