Weekly Review: MoneyMasterClass - Session 7
In the world of personal finance, advice from the right sources can make all the difference. Gail, a financial expert, has been sharing valuable insights through her Money Master Class tweets, encouraging individuals to take control of their finances.
Gail recently tweeted about the importance of keeping vehicle expenses below 15% of net income. She emphasised that this is a crucial aspect to consider seriously for financial stability. For those interested in her advice, Gail encourages everyone to check out her Money Master Class tweets from the start, and to catch up on the Money Master Class with weekly recaps.
One individual, who often overspends on groceries due to worries about running out of money, found Gail's tweets particularly helpful. They also shared that they waited 72 hours to assess if a larger purchase this week was an impulse buy, filled a practical need, and was affordable. After careful consideration, they decided to forego the purchase.
This individual's financial journey took a significant turn when their last vehicle broke down and was replaced with a used car purchased outright. They are now focusing on managing vehicle expenses and planning their spending wisely. In fact, their vehicle expenses currently amount to 20.26% of their monthly budget, a figure they are working hard to reduce.
To help manage their finances, this individual has also been regularly decluttering their belongings, keeping two boxes for donations and selling. They found Week 1's focus on core values particularly helpful in revealing unnecessary spending. They are now making a conscious effort to be more mindful of their extra spending, especially on the grocery budget.
Gail's advice extends beyond vehicle expenses. In a recent tweet, she referenced a tweet about the Money Master Class. While the search results do not provide a direct reference to a specific study, Gail is known for her research indicating that cluttered environments can negatively affect concentration, stress levels, and decision-making.
For those who missed last week's article, the Week Six Recap is available. The individual is also directed to the Money Master Class Intro and Week One Recap for those just starting their financial journey.
In conclusion, Gail's Money Master Class offers practical advice for managing finances and promoting mindful spending. By following her guidance, individuals can take steps towards financial stability and a clutter-free life.
Gail's Money Master Class advice encourages individuals to limit vehicle expenses to 15% of net income for financial stability, similar to the current budget goal of the individual who found her tweets helpful. For those interested in personal finance, Gail recommends checking out her Money Master Class tweets and weekly recaps to learn more about budgeting and focusing on necessary spending.
