Thanks! I'm glad you like it and can see how it fits in to the overall purpose and takeaway of the exercise! Thanks for listening and taking the time to comment!
Thank you for sharing this concept and worksheets Kelsa! Why can’t savings that go to sinking funds be counted in the FPN? I personally have about $2500/month that goes into non retirement savings.
If it's savings with the purpose of being spent in the future (clothing, vacation, car repairs, etc), then it's not true savings. If part of that $2500 is going to an emergency savings or a longer-term savings account then it would count toward this calculation. That's how we look at it. Very important step but not part of this equation!
Chefs Kiss🤌🏾 just love how you explained this when coaching the client!!! You hit it out the ball park again Kelsa!
Aww thanks Emily! I’m so glad you enjoyed this episode so much!! I think you’ll really like the episode that dropped today (4/4) FYI!
@@FinancialCoachAcademy I already know Im gonna love it! Watching it next!
Oh yes I love this episode. This is my niche with the FI number and the savings rate calculator
Great Psy! So glad to hear you enjoyed it as well. Are you calculating it similarly- by including debt in the equation or no? Just curious!
The debt principal inclusion seems like a very valuable takeaway. Thanks for the insight!
Thanks! I'm glad you like it and can see how it fits in to the overall purpose and takeaway of the exercise! Thanks for listening and taking the time to comment!
Thank you for sharing this concept and worksheets Kelsa! Why can’t savings that go to sinking funds be counted in the FPN? I personally have about $2500/month that goes into non retirement savings.
If it's savings with the purpose of being spent in the future (clothing, vacation, car repairs, etc), then it's not true savings. If part of that $2500 is going to an emergency savings or a longer-term savings account then it would count toward this calculation. That's how we look at it. Very important step but not part of this equation!
Your link to the savings rate calculator and handout do not work. It takes you back to the podcast episode.
Thanks for the head's up Paul! We fixed the issue and responded to your email. Should be all set now!
We hope you enjoyed the episode!
Mam i have query about cloud accounting topic . How can I solve my query??...
I'm afraid that this is not something I can help you with. We are not accountants, nor do we work with cloud based accounting products.