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Lizbet - Money & Motherhood

@lizbettalksmoney • 297,600 subscribers

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The breakdown 👇 🚙 Car price all in: $59,698 💰 Down Payment: $30,500 (saved for over a year) ✍️ Financed: $29,198 📈 Terms: 72 months, 5.09% APR 🗓️ Monthly Payment: $472.45 When it comes to a debt payoff journey, this isn’t my first rodeo! I paid off $114,000 in 8 years last time, and this time it’ll be almost $30,000 in LESS THAN ONE. In full transparency, during my 8 year journey I didn’t have social media as an extra income source, now I do. All the extra money we were able to put towards our SUV this month (aside from the monthly payment + $500 that we budgeted for) came from what I earned via the TikTok Creator Program, Facebook monetization, and Amazon affiliate. 💚 Buying NEW isn’t feasible for everyone, reminder that personal finances are PERSONAL! I do believe that with enough planning ahead and a clear budget, a financial decision that looks “bad” on paper can still make sense for *your* family. 😌 #familyfinances #debtfreejourneybegins #newfamilycar #millenialmom #toyotafamily

The breakdown 👇 🚙 Car price all in: $59,698 💰 Down Payment: $30,500 (saved for over a year) ✍️ Financed: $29,198 📈 Terms: 72 months, 5.09% APR 🗓️ Monthly Payment: $472.45 When it comes to a debt payoff journey, this isn’t my first rodeo! I paid off $114,000 in 8 years last time, and this time it’ll be almost $30,000 in LESS THAN ONE. In full transparency, during my 8 year journey I didn’t have social media as an extra income source, now I do. All the extra money we were able to put towards our SUV this month (aside from the monthly payment + $500 that we budgeted for) came from what I earned via the TikTok Creator Program, Facebook monetization, and Amazon affiliate. 💚 Buying NEW isn’t feasible for everyone, reminder that personal finances are PERSONAL! I do believe that with enough planning ahead and a clear budget, a financial decision that looks “bad” on paper can still make sense for your family. 😌 #familyfinances #debtfreejourneybegins #newfamilycar #millenialmom #toyotafamily

156,300 views

Happy Birthday to the best “yes” of my life! 🎉 It’s true, who you marry is one of the biggest financial decisions! He might not fully understand my spreadsheets, but we align where and how it matters when it comes to our financial goals and ensuring the best future for our girls. 🩷 What a privilege to be building this life together! To top it off, 35 has never looked so good! 😍 #loveyouforever #partnerincrime❤️ #familyfinances #familybudgeting #bestdecision

Happy Birthday to the best “yes” of my life! 🎉 It’s true, who you marry is one of the biggest financial decisions! He might not fully understand my spreadsheets, but we align where and how it matters when it comes to our financial goals and ensuring the best future for our girls. 🩷 What a privilege to be building this life together! To top it off, 35 has never looked so good! 😍 #loveyouforever #partnerincrime❤️ #familyfinances #familybudgeting #bestdecision

11,300 views

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If it looks like she’s been doing this a while… it’s because she has! Since she was 4 years old 🥹 FAQ’s: 💚 How does she *earn* her allowance? Allowance is tied to school (or summer learning), not chores. Chores are part of their responsibility as a member of the family. ✨What is the difference between savings and investing? Savings category stays in the binder and it is intended to teach delayed gratification (think a big ticket item or trip spending). Investing is for a long-term goal, in her case, college. It is invested inside of her 529 account, and we also contribute to it monthly. She’s had it since she was 1. 😉 ➡️ What binder am I using? That is my Allowance Binder. It helps me manage our allowance routine for both of my daughters, and it can help you get started as well! Linked in my bio. 🤜🤛 #allowance #allowancemoney #familyfinances #familybudgeting #kidsandmoney

If it looks like she’s been doing this a while… it’s because she has! Since she was 4 years old 🥹 FAQ’s: 💚 How does she earn her allowance? Allowance is tied to school (or summer learning), not chores. Chores are part of their responsibility as a member of the family. ✨What is the difference between savings and investing? Savings category stays in the binder and it is intended to teach delayed gratification (think a big ticket item or trip spending). Investing is for a long-term goal, in her case, college. It is invested inside of her 529 account, and we also contribute to it monthly. She’s had it since she was 1. 😉 ➡️ What binder am I using? That is my Allowance Binder. It helps me manage our allowance routine for both of my daughters, and it can help you get started as well! Linked in my bio. 🤜🤛 #allowance #allowancemoney #familyfinances #familybudgeting #kidsandmoney

Lizbet - Money & Motherhood

5,500,000 views • 4 months ago

💰 WEEKENDS ARE FOR ALLOWANCE 💰 I mark Fridays as the allowance date in my allowance binder, that gives me the whole weekend to get it done. I also keep 4-6 weeks of future allowance weeks in the binder, that helps with limiting the number of times I have to go to the bank for cash. Because I don’t have that kind of time! 😅 🔗Allowance Binder is linked in my bio! 8 colors available! 💚💙💛🩷💜🩵🖤🧡 #kidsandmoney #allowance #familyfinances #allowancemoney #familybudgeting

💰 WEEKENDS ARE FOR ALLOWANCE 💰 I mark Fridays as the allowance date in my allowance binder, that gives me the whole weekend to get it done. I also keep 4-6 weeks of future allowance weeks in the binder, that helps with limiting the number of times I have to go to the bank for cash. Because I don’t have that kind of time! 😅 🔗Allowance Binder is linked in my bio! 8 colors available! 💚💙💛🩷💜🩵🖤🧡 #kidsandmoney #allowance #familyfinances #allowancemoney #familybudgeting

Lizbet - Money & Motherhood

390,900 views • 26 days ago

She is my 3rd baby, not my 1st. When I had my first daughter, I was in +$114k of debt.. and instead of starting a 529 account for her, I decided to focus on paying off my debt. I tell you this because I believe that the BEST thing you can do for your kid/s is to put the mask on yourself first! That means ensuring *your* investments take priority, and only investing for current (or future) children if you’re able to budget accordingly. This is all for educational purposes only, every family has different priorities and therefore could/should choose alternative investing accounts that best fit their goals. 💚 #kidsandmoney #529plan #familyfinances #investingforkids #familybudgeting

She is my 3rd baby, not my 1st. When I had my first daughter, I was in +$114k of debt.. and instead of starting a 529 account for her, I decided to focus on paying off my debt. I tell you this because I believe that the BEST thing you can do for your kid/s is to put the mask on yourself first! That means ensuring your investments take priority, and only investing for current (or future) children if you’re able to budget accordingly. This is all for educational purposes only, every family has different priorities and therefore could/should choose alternative investing accounts that best fit their goals. 💚 #kidsandmoney #529plan #familyfinances #investingforkids #familybudgeting

Lizbet - Money & Motherhood

170,700 views • 1 month ago

Do you know if you’re fully vested? Ask your manager or HR if there is a vesting schedule for the company’s 401k match if you’re not sure. This was always one of my follow up questions after asking what the company match was during interviews too. 😉 Vesting doesn’t only pertain to 401k’s! If you are offered a pension, it is usually tied to a minimum amount of years worked. (Cliff vesting) Ultimately, if your employer offers any type of “free” money, make sure you know how much of it you get to KEEP and WHEN. P.S. by “taking” that money, I mean rolling over! Comment ROLLOVER if you’d like me to film the process. 👀 #latinainfinance #401k #401krollover #entrepreneurship #latinacreator

Do you know if you’re fully vested? Ask your manager or HR if there is a vesting schedule for the company’s 401k match if you’re not sure. This was always one of my follow up questions after asking what the company match was during interviews too. 😉 Vesting doesn’t only pertain to 401k’s! If you are offered a pension, it is usually tied to a minimum amount of years worked. (Cliff vesting) Ultimately, if your employer offers any type of “free” money, make sure you know how much of it you get to KEEP and WHEN. P.S. by “taking” that money, I mean rolling over! Comment ROLLOVER if you’d like me to film the process. 👀 #latinainfinance #401k #401krollover #entrepreneurship #latinacreator

Lizbet - Money & Motherhood

109,000 views • 28 days ago

We got side-tracked with an investing lesson (will post next), that I missed charity. 🫣 Totally my fault! Charity is optional, and it gets moved from spending after allocating. I don’t like the idea of forcing them to contribute to charity because money isn’t the only way to be charitable. We go over other ways to be charitable that doesn’t involve money often, and I do my best to lead by example. 💖 My Allowance Binder comes with everything you need to get allowance started, including 5 videos walking you through setting up your binder + the entire framework I follow. ✨linked in my bio ✨ #kidsandmoney #allowance #familybudgeting #allowancemoney #familyfinances

We got side-tracked with an investing lesson (will post next), that I missed charity. 🫣 Totally my fault! Charity is optional, and it gets moved from spending after allocating. I don’t like the idea of forcing them to contribute to charity because money isn’t the only way to be charitable. We go over other ways to be charitable that doesn’t involve money often, and I do my best to lead by example. 💖 My Allowance Binder comes with everything you need to get allowance started, including 5 videos walking you through setting up your binder + the entire framework I follow. ✨linked in my bio ✨ #kidsandmoney #allowance #familybudgeting #allowancemoney #familyfinances

Lizbet - Money & Motherhood

57,700 views • 24 days ago

That money is invested inside of her 529 account. No, a 529 is not *JUST* for college. It can be used for trade school, certification programs, among other things. Also, up to $35,000 can be rolled over to a Roth IRA after it has been open for 15 years (subject to yearly limits). If it’s still not the account you want to invest for your child, look into UTMA/UGMA or the new 530a account (Trump Account). If your child earns money legitimately, then another option is a Custodial Roth IRA. 👍 ⚠️ There is no way I can cover every *nuance* of investing in one lesson. Also, she’s 9, we have plenty of lessons to go. 😌 Lastly, those flashcards are not yet available with my Allowance Binder (linked in bio), I’m working on making them a printable once my maternity leave is up or sooner if I’m able. If you’ve already purchased the binder, you’ll get that update as well. 💚 #investingforkids #kidsandmoney #familyfinances #familybudgeting #financialliteracy

That money is invested inside of her 529 account. No, a 529 is not JUST for college. It can be used for trade school, certification programs, among other things. Also, up to $35,000 can be rolled over to a Roth IRA after it has been open for 15 years (subject to yearly limits). If it’s still not the account you want to invest for your child, look into UTMA/UGMA or the new 530a account (Trump Account). If your child earns money legitimately, then another option is a Custodial Roth IRA. 👍 ⚠️ There is no way I can cover every nuance of investing in one lesson. Also, she’s 9, we have plenty of lessons to go. 😌 Lastly, those flashcards are not yet available with my Allowance Binder (linked in bio), I’m working on making them a printable once my maternity leave is up or sooner if I’m able. If you’ve already purchased the binder, you’ll get that update as well. 💚 #investingforkids #kidsandmoney #familyfinances #familybudgeting #financialliteracy

Lizbet - Money & Motherhood

38,500 views • 22 days ago

We’re still playing catch up with allowance, especially since the newest member of our family decided to come a little early (which we’re all happy about 🩷). This was filmed shortly before baby girls arrival and just didn’t get around to editing until now 🙃 Impromptu investing lesson happened here too, I’ll post that one next! The link to my Allowance Binder is in my bio. It’s the perfect tool to help you get started and stay consistent with C.A.S.H. Allowance! 🤜🤛 #kidsandmoney #allowance #allowancemoney #familyfinances #familybudgeting

We’re still playing catch up with allowance, especially since the newest member of our family decided to come a little early (which we’re all happy about 🩷). This was filmed shortly before baby girls arrival and just didn’t get around to editing until now 🙃 Impromptu investing lesson happened here too, I’ll post that one next! The link to my Allowance Binder is in my bio. It’s the perfect tool to help you get started and stay consistent with C.A.S.H. Allowance! 🤜🤛 #kidsandmoney #allowance #allowancemoney #familyfinances #familybudgeting

Lizbet - Money & Motherhood

76,400 views • 1 month ago

It feels so good to be all caught up!! I don’t like owing people money, not even my kids 😆 Thanks to my allowance binder, catching up didn’t take too long 🙌 Ready to get your kid/s started on their financial literacy journey? My Allowance Binder has everything you need to get started! #kidsandmoney #allowance #allowancemoney #familybudgeting #familyfinances

It feels so good to be all caught up!! I don’t like owing people money, not even my kids 😆 Thanks to my allowance binder, catching up didn’t take too long 🙌 Ready to get your kid/s started on their financial literacy journey? My Allowance Binder has everything you need to get started! #kidsandmoney #allowance #allowancemoney #familybudgeting #familyfinances

Lizbet - Money & Motherhood

49,300 views • 1 month ago

My husband and I are both first-gen college graduates, and we attribute a lot of our success to those degrees. I understand not everyone feels as strongly about a college education as we do, and that’s okay! I’m not here to tell parents whether they should or shouldn’t be saving for college. But as for us, we will. 🎓 One of the biggest questions I get about 529s is: What if they don’t go to college? That’s one of the reasons I like the flexibility of a 529. The money can be used for eligible expenses at colleges, trade schools, and certain other education programs, and there’s no expiration date. So if they aren’t ready for higher education right after high school, there’s no rush. 🙃 And if they ultimately don’t need all of it: • Up to $35K can potentially be rolled into the beneficiary’s Roth IRA (subject to annual limits and other requirements) • The beneficiary can be changed to another qualifying family member, like a sibling or even a future grandchild • When a parent owns the 529, it generally receives more favorable treatment on the FAFSA than assets held directly in the student’s name For us, the flexibility + tax advantages make the pros far outweigh the cons. 👍 #investing101 #familyfinances #kidsandmoney #financialliteracy #moneytalk

My husband and I are both first-gen college graduates, and we attribute a lot of our success to those degrees. I understand not everyone feels as strongly about a college education as we do, and that’s okay! I’m not here to tell parents whether they should or shouldn’t be saving for college. But as for us, we will. 🎓 One of the biggest questions I get about 529s is: What if they don’t go to college? That’s one of the reasons I like the flexibility of a 529. The money can be used for eligible expenses at colleges, trade schools, and certain other education programs, and there’s no expiration date. So if they aren’t ready for higher education right after high school, there’s no rush. 🙃 And if they ultimately don’t need all of it: • Up to $35K can potentially be rolled into the beneficiary’s Roth IRA (subject to annual limits and other requirements) • The beneficiary can be changed to another qualifying family member, like a sibling or even a future grandchild • When a parent owns the 529, it generally receives more favorable treatment on the FAFSA than assets held directly in the student’s name For us, the flexibility + tax advantages make the pros far outweigh the cons. 👍 #investing101 #familyfinances #kidsandmoney #financialliteracy #moneytalk

Lizbet - Money & Motherhood

43,200 views • 1 month ago

Thankfully we budgeted $1000 for baby expenses in September 🙌 The next large expense will probably be the hospital bills.. 😅 Any guesses for that? In case you’re curious on the exact items: Jogging Stroller: @thule Urban Glide 3 & adapter Baby Swing: @Graco Duet Connect LX 2-in-1 #familyfinances #familybudgeting #newbornexpenses #babycosts #momofthree

Thankfully we budgeted $1000 for baby expenses in September 🙌 The next large expense will probably be the hospital bills.. 😅 Any guesses for that? In case you’re curious on the exact items: Jogging Stroller: @thule Urban Glide 3 & adapter Baby Swing: @Graco Duet Connect LX 2-in-1 #familyfinances #familybudgeting #newbornexpenses #babycosts #momofthree

Lizbet - Money & Motherhood

44,400 views • 1 month ago

This all comes down to letting them make MISTAKES while the stakes are super low. A $10 squishy is not going to ruin their financial future 🙃 It’s okay to try to guide them in a different direction, and it might take repeating the same suggestion a *few* times before they actually “learn the lesson.” I understand trying to help our kids avoid making the same mistakes we did, but maybe part of that is letting them learn to make them too - just at a smaller scale. 😉 This is just my approach, feel free to use what you like and disregard what you don’t! Allowance Binder is ✨linked✨ in my bio. 💚 #kidsandmoney #allowance #allowancemoney #financialliteracy #allowancesystem

This all comes down to letting them make MISTAKES while the stakes are super low. A $10 squishy is not going to ruin their financial future 🙃 It’s okay to try to guide them in a different direction, and it might take repeating the same suggestion a few times before they actually “learn the lesson.” I understand trying to help our kids avoid making the same mistakes we did, but maybe part of that is letting them learn to make them too - just at a smaller scale. 😉 This is just my approach, feel free to use what you like and disregard what you don’t! Allowance Binder is ✨linked✨ in my bio. 💚 #kidsandmoney #allowance #allowancemoney #financialliteracy #allowancesystem

Lizbet - Money & Motherhood

48,800 views • 2 months ago

There’s a part I “filmed” but realized after the fact that it was not saved because of my phone overheated and stopped recording. 🤦‍♀️ That is, HOW do I motivate them to do their regular chores? We are NOT a no-screen family 😅 Both of my daughters have tablets. They don’t get to watch them during the school week, but on the weekends they can - so long as their chores are done. 1 day is laundry, and the other is their room. If they don’t get it done, they can’t use their tablet. Simple as that. If they decide to not do chores all day Saturday, and leave it all for Sunday. I let them. But they also do not have access to screens until both tasks are complete the next day. It’s still a win for me because it keeps them off the tablet an extra day 🙃 Allowance is tied to school, that is their “job.” And while I know that they still HAVE to go to school, it’s much easier to explain that concept because mom and dad also go to work during their school hours and we get paid for it. What are your thoughts on paying for chores (respectfully)? 👀 #kidsandmoney #allowance #allowancesystem #kidsandchores #choresforkids

There’s a part I “filmed” but realized after the fact that it was not saved because of my phone overheated and stopped recording. 🤦‍♀️ That is, HOW do I motivate them to do their regular chores? We are NOT a no-screen family 😅 Both of my daughters have tablets. They don’t get to watch them during the school week, but on the weekends they can - so long as their chores are done. 1 day is laundry, and the other is their room. If they don’t get it done, they can’t use their tablet. Simple as that. If they decide to not do chores all day Saturday, and leave it all for Sunday. I let them. But they also do not have access to screens until both tasks are complete the next day. It’s still a win for me because it keeps them off the tablet an extra day 🙃 Allowance is tied to school, that is their “job.” And while I know that they still HAVE to go to school, it’s much easier to explain that concept because mom and dad also go to work during their school hours and we get paid for it. What are your thoughts on paying for chores (respectfully)? 👀 #kidsandmoney #allowance #allowancesystem #kidsandchores #choresforkids

Lizbet - Money & Motherhood

39,300 views • 2 months ago

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