How To Save Your First $100K – EP 213

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 “Lower your expenses, Increase your income” is a piece of advice we might have already seen in articles that talk about achieving financial goals. However, nothing ever comes easy when you are saving your first $100K and moving forward. In this episode, we break down realistic and attainable ways to save your first $100K, while also setting bigger goals for you. 

The earlier you get there, the better off you are down the road.


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The Math That Explains Why Net Worth Goes Crazy After the First $100k

Your first 100k is the hardest, but the road only gets easier after the first $100k milestone. This article explored the math that explains why net worth begins to take off like a rocket ship after crossing the $100k threshold.

What Jen + Jill have to say:

The article highlighted the trend for those who saved their first $100k and how investments sky rocketed after that. Jill agrees that it’s not just arbitrary…. #compound interest – it’s at this number that we have enough to see a noticeable impact. It is also through lots of saving and investing. Jill likes the chart that shows money growth with different interest rates (with a static investment of $10k annually.

How to Save Your First $100,000

Financial stability and financial goals are two key reasons for saving. If you’re just starting, Investopedia outlined tips on how to save your first 100k.

What Jen + Jill have to say:

Jill discusses keeping costs low, investing in efficient vehicles and products, tax sheltered investment options (401(k)) or traditional IRA, managing risk appropriately (consider how much time you have and how much you know about the investment), and creating short-term savings goals.

Meanwhile, Jen talks about having the right mindset, reducing your interest burden, maximizing employee benefits, and generating additional income.

The most challenging part of saving for us

For Jill, it is the competing goals (and NOT unlimited resources). For Jen, the hardest is having a concrete goal.

Bill of The Week

Thank you Grace for sharing your bill about canceling fitness subscription and getting 2 free months through your ‘fake-out’!

Thanks so Much for Listening!

Thanks so much for listening! Many of you know we have a private community where we do monthly money challenges and offer accountability groups. We want to congratulate one of our members for a big win:

Finally opened up a Roth IRA for my husband! Now we just need to link his accounts and fund it. I also opened up an online bank account so I can get out of my shitty account. I really need to switch all of our bank accounts and consolidate them, but one step at a time. Next step is switch my direct deposit. I'm going to use this thread to update my progress so yall can hold me accountable.

Congrats Emily! Thanks for listening and if you want to check out our monthly challenge community head to to see what challenge we have coming up next.

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