As tradition on this channel, it's time for a thorough financial recap of 2023. Join me as I share the ins and outs of our income, investments, debts, major expenses, and goals. Transparency is key here, and I'm excited to lay it all out for you.

👫 The Purpose Behind the Recap:
1. Building Trust: My wife, Bailey, and I follow the principles I discuss in my videos. This recap is to assure you that we practice what we preach.
2. Encouraging Money Discussions: Breaking the taboo around money is crucial. Let's inspire open conversations about finances and empower positive change.

📈 Investments:
Our investments have been consistent, following the baby steps. That means we invest 15% of our income in Roth 401ks and Roth IRAs – no single stocks or crypto. Total, our investments went up about $43,000 in 2023, including employer contributions and market change. That brings us to about $122k across our investments.

💰 Debts:
Our primary focus is paying down our mortgage. In 2023, we paid $17,955.26 towards the principal. $9,000 of that was extra principal payments, cutting off a year from our mortgage length. The goal is to pay off the house by our 10th wedding anniversary in 3.5 years.

🏡 Large Expenses:
While we've slowed down on house-related expenses from 2021 and 2022, we did put about $1500 into in built-ins. Other than that, notable expenses include a used truck ($18k in cash), a used camper ($9,500 in cash), and the birth of our son ($1,200).

💵 Income:
Our total income for 2023 was around $173,000. Grateful for the blessings, we acknowledge that our income is not our own. It allows us to manage our old house, pay off the mortgage early, cover childcare, save for expenses, and contribute to our church and other meaningful organizations. This income is very much thanks to some overtime in both of our jobs but total can be split up between both of our primary jobs, Bailey’s side job, and my YouTube income.

🚀 Goals for 2024:
Excited for the new year, our focus in 2024 is to make significant payments towards our home, aiming to pay it off by June 2027. Stay tuned for updates, and share your experiences and goals for 2024 in the comments below! 🎊

Timestamps:
0:00 - Why I make a recap
0:39 - Financial Recap: Our Investments
2:45 - Financial Recap: Our Debt
4:00 - Financial Recap: Our Expenses
5:35 - Financial Recap: Our Income
6:35 - Looking Into 2023

#calebbale #financialrecap #2023recap

📒 Notes and Resources 📒

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⚡️GET FINANCIAL COACHING⚡️
If you need some help with getting your debt worked out, set up a session with me. I legitimately want to help. www.balefinancialcoaching.com

⚡️FOR INQUIRIES⚡️
For business and coaching inquiries, hit me up:
[email protected]

⚡️CHECK OUT THE BLOG⚡️
http://balefinancialcoaching.com/blog/

⚡️DISCLAIMER⚡️
Do your own research. My content is intended to be used and must be used for informational purposes only. It is very important to do your own analysis before making any investment based on your own personal circumstances. You should take independent financial advice from a professional financial advisor when considering your retirement options. Though I teach financial principals, I am not an investment advisor and none of my advice constitutes legal, tax, or investment as a professional. Everything I share is based on my own research and is intended for your benefit. Any financial technology reviews are intended for your benefit. Research each product yourself to determine if they are right for you.

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