Traveling to Hilton Head Island with Kids

Have you ever thought about going to Hilton Head Island? If you’ve got young kids like us, it was the perfect destination to spend Spring Break last year. With our extended family of nine, with kids ages 2-14, there was something for everyone, including the adults! Here’s how we got to the island and what we did while we were there.

Getting There

Getting to Hilton Head Island with kids was a bit trickier than some places we’ve been before, but only because there wasn’t a direct flight from Minneapolis to Savannah, the airport closest to the Island. We chose to fly Southwest on miles borrowed from our father-in-law (while we wait for our next Southwest bonus to hit!), and it cost us roughly 100,000 miles for our two daughters and me to fly. My husband was in Atlanta for work, so he met us in Savannah a few hours after we arrived. After picking up our minivan and waiting for my husband, we made the hour's drive to Hilton Head Island.

Where We Stayed

When looking for a place to stay for our group, we checked out Airbnb, our usual go-to lodging choice when traveling. Based on the number of bedrooms/beds needed as well as a pool/hot tub, we couldn’t find what we were hoping for on the site, however. Thus, we turned to VRBO. There were lots more options on the site for us to choose from, and eventually, we narrowed down our choices and picked a 6-bedroom house on the southwest side of the island. It was within walking distance of the beach, had plenty of room, and had a hot tub. We decided not to heat the pool for extra money, so it served as our cold therapy tub for the week! We had an excellent stay and would highly recommend the VRBO (4 Firethorn Way) to others.

Just a few minutes out the door of our VRBO to this beautiful view!

What We Did

There’s lots to do on Hilton Head Island, especially if the weather is nice!

The Beach

The first few days in Hilton Head were in the mid-70s, so we spent the majority of our days at the ocean. Between soaking up the sun, playing beach soccer, splashing in the waves, and building sand castles, we had a blast! There was a outdoor bar a 10 minute walk down the beach, so occasionally one of the adults walked down to grab a round of drinks for the adults. The kids loved jumping waves and looking for seashells too.

Hi my name is Katie and I like long walks on the beach.

Salt in the air, sun in my face, and children playing in the sand make for a perfect morning.

Mini Golf

On the third day the weather called for rain, so we loaded into our vehicles and headed out to mini golf. There are three mini golf courses nearby one another on the Island (Adventure Cove, Legendary Golf, and Pirate’s Island Adventure Golf) Being we had young kids with, we thought that Pirate’s Island sounded the most fun. We played a round of 18 holes, winding in and out of the pirate-ship themed course. At the end of the kids got a paper pirate hat and little plastic flag, a big hit with our 4- and 2-year old. The rain held off too - which was nice!

Excited for mini golf!

Jamming to Live Music

One of the best parts of the island is the amount of live music you can find on any given day! After our round of mini golf, we headed to Coligny Beach Park, a popular shopping area right outside the beach. There are public restrooms and a few restaurants alongside the ocean, including the Tiki Hut. The Tiki Hut is an outdoor bar situated right on the beach. We grabbed a round of beverages and listened to the two musicians jamming out on their guitars.

A delicious IPA from local Westbrook Brewing Co. enjoyed with a view of the beach - nothing better!

Just a dad dancing with his two girls at the Tiki Hut.

Exploring Savannah

With Savannah only an hour's drive away, we took the last day we were in town to check it out. We walked down the old cobblestone roads, popped into a few stores, and grabbed drinks before walking alongside River Street. Before our dinner reservation that night, we lounged in Forrest Gump Park, starting at the Spanish Moss and old commemorative statues. Next, I took the kids into an old bookstore and grabbed a children’s book by a local Hilton Head author.

While in Savannah, we ate at Husk, one of my husband and I’s favorite restaurants out of Charleson. We love the importance they place on sustainability and local ingredients, and the unique take on Southern food is hard to beat. Their menu changes with the seasons but I can say with certainty that everything is delicious. And do yourself a favor. If they have it, order the Carolina Gold rice.

The brick walkways and Spanish moss hanging from the trees made everything so picturesque.

Where we Ate

There is certainly no shortage of delicious food on Hilton Head. But by far, our favorite thing was the fresh seafood. There are many local restaurants to enjoy, but here are a few of our favorites.

The Old Oyster Factory

While in Hilton Head, we tried to eat at as many waterfront places as possible, and The Old Oyster Factory did not disappoint. We sat inside, with the beautiful wood beams, elevated ceiling, and large windows overlooking their private pier. The Old Oyster is located on the northeast side of the Island, inland, but situated on the creek. We enjoyed a handful of seafood dishes, and the Southern Fried Catfish was surprisingly delicious. As someone who hadn’t had much catfish before, I thought it was delicate inside and crispy outside, just like a fried fish should be. My husband enjoyed the raw oysters, and we all shared a few appetizers, including the hushpuppies. Being from the Midwest, the local seafood dishes were a top priority and hit the spot.

Hudson’s Seafood House on the Docks

Situated in an old 1920 seafood processing plant, Hudson’s Seafood House on the Docks is one of Hilton Head’s oldest restaurants. Located in the far northwest corner of the Island, on Skull Creek, Hudson’s serves up local shrimp, crab, oysters, crabs, and fish. You can order your seafood prepared in various ways, including blackened, broiled, pan-seared, fried, or steamed. I had the delicious She Crab soup to start, one of my favorite South Carolina eats, and the catch of the day, filleted in-house. Our group also split a basket of hot-from-the-oven hushpuppies as we were on a mission to try as many different ones as possible. Needless to say, Hudson’s were some of the best.

Skull Creek Boathouse

Right next to Hudson’s, Skull Creek Boathouse had a gorgeous outdoor patio area overlooking the docks on the creek. We dined later in the evening and ate by the light of the lit tiki torches. Featured on Food Network’s Diners, Dine-ins, and Dives, Skull Creek Boathouse is heavily awarded. Known on the Island for its raw bar, Skull Creek offers something for everyone. I had their Avocado Bombs, which were avocados filled with spicy tuna and crab salad, topped with eel sauce, crispy wontons, and spicy mayo.

Coast

We also enjoyed one night at Coast at the SeaPines Resort, which had the best dining views we had seen all week. They, too, had live music outside with ocean views. The drinks and food were tasty. Add the live music and ocean views; it was the perfect dinner.

Live music outdoors is our happy place!

Bonus: Stop at Bluffton

If you’re in Hilton Head and driving to or from Savannah, take a few hours to explore Bluffton. Bluffton, South Carolina, is a town of fewer than 30,000 people with incredible charm. We visited on our way back to the airport and fell in love with the quaintness and history of the place. Local shops and restaurants fill the main strip of Bluffton, housed inside historic buildings with their own story. While there, we had lunch at the Old Town Dispensary, a tavern with elevated bar food and local taps. They also have live music, outdoor seating with fire pits, and corn hole. Their nachos and pulled pork sandwich were both delicious and so was the local brew.

Lunch at Old Town Dispensary in Bluffton, South Carolina.

An example of one of the historic buildings in Bluffton.

Trying new local brews/breweries is one of my favorite things to do while traveling!

That’s a wrap on traveling to Hilton Head Island with kids! If you have questions or want to chat about anything travel related (including credit card rewards!) leave me a comment or message me Instagram @katieoelkermedia, where you can see more of our family’s travels. Thanks for reading and happy traveling!

Katie

How to Conduct a Month End Money Review

It’s already the beginning of a new month, and it’s hard to believe how fast this year is going despite everything going on in the world! If you’re like me, the promise of a new month (and new quarter!) is so refreshing. I love reflecting on the last month and setting goals and intentions for the month ahead.

At the end of every month I do two things:

1) write out things I was grateful for that happened over the course of the month

2) do a end of month money review

What is a month end money review?

It’s essentially a review of your finances for the month, including all income you earned and expenses you had. It’s not a difficult process, but it does take some time. Once you have the process down though, you should be able to repeat each month with less time and effort. Also - the pay off is worth it! For me, once I’ve seen what we’ve spent our money on and how close we were to our goals I can make adjustments for the next month.

Here’s how to conduct a month end money review:

1) Go through your transactions for the month and make sure everything is accounted for.

You can do this process manually (by going through each of your bank/credit card statements!) or review on a software such as Mint (which is what we use) One note of advice: Make sure if your accounts are linked up in Mint (or similar software!) that you check to make sure they are ACTUALLY CONNECTED! Unfortunately I learned this lesson the hard way this month as one of our lesser used credit cards hadn’t been syncing since April. Whoops!

2) Once you’ve double checked nothing is missing, tally up the expenditures for each spending category.

Examples include: dining out, groceries, alcohol and bars, shopping, etc. If you’re using a software like Mint, the categories should automatically fill, however, you will need to double check that your transactions are categorized correctly. For example, a lot of my husband’s fantasy football expenditures show up as business expenses for me, which is obviously not accurate!

3) Take a look at and tally up your take home pay for the month.

This should be your net income, aka the money you have in your account after your employer takes out all taxes and deductions. Don’t forget any side hustles or other sources of income you may have!

4) Subtract all of your fixed expenses from your income.

This includes your mortgage/rent, any bills that are the same amount each month or are always taken out each month (such as your energy bill) and any credit card/loan payments you make (such as student loan or car payments)

5) Start subtracting your discretionary spending categories from your the amount you had left in #4.

Make sure that if there is an expenditure that didn’t fit into a certain category that it gets labeled miscellaneous and is counted toward your total spending for the month.

6) Once completed with #5, notice if you came up in the black (surplus!) or in the red (shortage!)

If you’re in the red, then it’s time to evaluate which categories you overspent on and where you need to reign it in for the next month. If you’re in the black, hooray! Give yourself a pat on the back for not spending more than you earned for the month.

7) With this awareness, make a plan for the next month.

Now that you’ve seen how much you earned, how much you spent, and what you spent your money on, it’s time to make a plan for the next month! Are there areas you need to cut back on? Are there any expenses you can cut out completely? Do you need to hustle a bit more this next month in order to make enough money to cover your expenses? Remember: “a goal without a plan is just a wish”

Although you can certainly write this all out, I love using both Mint to track and categorize expenses and Google Sheets to enter in all of our date (income, fixed expenses, variable expenses, totals, etc.) By using a spreadsheet software such as Microsoft Excel or Google Sheets you can compute the calculations right inside the spreadsheet. Another bonus is after a few months you can compute averages for different spending categories and then update your budget to more accurately reflect how and where you are spending your money.

And that my friends is how to conduct a month end money review! If you’re still feeling lost on how to start this process, send an email to info@katieoelker.com with the subject line “help please!” and I’ll be happy to answer any questions you have or see how I may be able to help you get started!

Until next time….

Cheers to your abundance!

Katie O.

July 15th deadline - Taxes and Roth IRA contributions due!

Well hey there! It’s been awhile, eh? (cue my inner Minnesotan!) The last two posts I penned were about tips for times of financial unease and working with young kids at home, both of which are still relevant. It’s crazy to think how many months this pandemic has already gone on, and how many more we may be in for. Either way, I hope you’re hanging in there!

Today’s post is all about some practical financial info that you may (or may not!) already know. When the pandemic started, the U.S. government extended the tax deadline to July 15th. My husband and I actually filed ours early (in late February) as we were headed out of town mid-March and wanted them to be done beforehand. It felt great to have them done earlier this year! When I used to do my own I always waited until the last minute and it was so.dang.stressfull!

That being said, this is the first year I am paying quarterly taxes for my business which is exciting (as it means I’m actually making enough money to have to pay estimated taxes - win!) I accidentally forgot to send in my March quarterly however, so I sent them both in at the end of June. If you’re a procrastinator like me - I get it! This is my friendly reminder to you however to just get those puppies done and filed before midnight Wednesday!

Also - on an equally as important note, July 15th is also the LAST DAY to contribute to your Roth IRA for 2019. If you have a Roth IRA already set up and you have extra money lying around in your savings that you feel comfortable parting with, consider maxing out that Roth.

And if you don’t have a Roth IRA, it’s not too late! You can setup one ASAP at a place like Fidelity or Vanguard and contribute for 2019.

Here’s a little more info on Roth IRAs:

Q: What is a Roth IRA?

A: A Roth IRA is an investment vehicle which allows you to put in money AFTER TAX. (Essentially you fund it from your checking or savings account.)

Q: Where can I setup a Roth?

A: You an set one up online at places like Fidelity, Vanguard, Betterment, Ally, and Charles Schwab, to name a few. OR you can also work with a local Broker-Dealer near you to set up a fund. You’ll likely save fees by setting up and managing your own Roth, but either way my best advice is to understand what fees you are paying when it comes to your account management!

Q: What can I invest in?

A: While the Roth is the vehicle you open, you still need to choose what you want to invest in within your Roth. Some options include stocks, bonds, mutual funds, ETFs (exchange traded funds), as well as money market funds. My favorite investments are Index Funds, which are funds that track the market regardless of how the market is doing and have extremely low fees. The market almost always out performs actively managed funds (which are more expensive) - another huge win!

Q: How much money can I put in?

A: The limit for 2019 is $6k (or $7k if you’re 50 and over). If you make over $193,000 as a married filing jointly couple or $122,000 as a single person, however, you will be in the phase out stage. The easiest way to know how much you can put in if you’re over the income limit is to work with an accountant to determine what your Modified Adjusted Gross Income is.

Q: Can I take my money out anytime?

A: Yes - but there are stipulations. You can certainly cash out of your investments anytime, but you may have to pay a penalty (as well as taxes on gains!) if done so before 5 years of account opening. You can always take out just your contributions anytime penalty free (just not the earnings!) After 5 years of account opening you can take out gains tax and penalty-free for a few instances such as for a disability or a first time home buyer purchase. If you’ve had it open for less than 5 years there are instances when you can take out the money penalty-free, but still have to pay the taxes on earnings. Confused? I get it. Here’s a great guide to help HERE.

Alright ya’ll - that’s it for now! Hope this helps you a) get motivated and b) take action!

Until next time…cheers to your abundance!

Katie Oelker
Financial Coach and Writer

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How to get work done with children around

I recently had someone ask me how I get work done at home with children around and I’m not going to lie to you, it’s not easy. However, with the changing atmosphere and many people now finding themselves working at home, without childcare, I wanted to share a few tips that have helped me get work done while I’m at home with our two kids.

How to get work done with children around:

1) Set your goals first thing in the morning.

What are the absolute things you MUST get done today? Attack those first thing when your energy is the highest and before the day gets away from you. Sometimes I’ll let my oldest watch 30 minutes of cartoons right away in the morning so I can answer an important email, write and send a writing pitch, or accomplish one important thing off of my to-do list.

2) Discuss the situation with your children.

Let them know that mom and dad have to work, how long you need to work for, and what you can do afterwards together. Oftentimes they understand more than we give them credit for.

3) Use screen time, wisely.

Ideally, don’t just shove your child in front of a screen all day to get work done. Although a little screen time is fine, no one recommends an entire days worth! Setup activities that your children can do on their own (follow Busy Toddler on Instagram if you need some ideas!) or set a timer in which they can solo play, color, or do another activity of their or your choosing.

4) Be mindful when you aren’t working.

When you aren’t working, spend time with your children and actually be there. No thinking about work, prepping for your next meeting in your head, etc. Be with them 100% so that when you’re working you’re not feeling guilty for not being as mindful and attentive as you could have been.

5) Wake up earlier or stay up later.

I’m not here to preach morning routines to you but if you’re working from home and have children around, it’s going to be easier to get work done when they are sleeping. If you can get up an hour earlier, great. If you want to stay up an hour later to work, great. Either way, find a time that works for you to have uninterrupted work time. I oftentimes work for a few hours after the kids go to sleep.

6) Have realistic expectations.

No, you’re not going to be as productive as you would be without kids around, that’s a fact. But if this is your new reality, come to terms with it. Don’t get angry at your kids for interrupting you. They are likely confused as to why you are home but can’t give them 100% attention like you can on the weekends or whenever you’re off work.

7) Be grateful you CAN work from home.

There are plenty of people who didn’t even have that choice during the current circumstances.

8) Tag team with your partner or find someone who can help.

Now I know we are practicing social distancing but if you have to get your job done and absolutely cannot focus with your kids around, see if you can find a friend or family member that can help out for a few hours a day/week. Or worst case, tag team with your partner throughout the day to get the uninterrupted time you need.

9) When you are working, FOCUS!

Turn off all distractions including texts, social media, email notifications etc. Make a plan for what you are going to do during that time before you start and then put your head down and do it.

10) Focus on the positives.

Maybe working from home is more stressful and you’re feeling less accomplished/more distracted. But maybe it also means less time commuting, more time to spend with your family, and the ability to eat food at home (that’s cheaper and healthier likely!) We are going through some crazy times right now so try to stay calm and focused on the positive of what you do have going for you.

Alright, that’s it! What tips do you have that help you get work done while at home with children? I’d love to hear what’s working for you in the comments.

Until next time…

stay healthy and stay sane!

Katie

6 Tips for Times of Financial Unease

It’s 10:43 p.m. as I type this, and while I should be in bed sleeping, I just can’t. Not yet at least.

We arrived home from a lovely week’s vacation in Hawaii on Saturday, and so much has changed since then. A few days before we left concerns of the COVID-19 in the U.S. were growing, but we were still on vacation and everything was pretty chill on the Big Island.

Since coming home however schools have been cancelled, my hubby is working from home, stores are running out of toilet paper (among other things), we are practicing social distancing, and now all bars and restaurants in Minnesota are closed as well.

As a SAHM I’m pretty used to staying at home with my littles by ourselves. Sure we make it out to play dates and events but more times that not, especially with a baby who naps twice/day and the rampant amount of sickness that went around this winter, we hung around our home. It’s not the social isolation that bothers me or even the virus itself that worries me (not for my own family at least, but definitely for others that have immune compromised individuals and the elderly) but the financial stress of this event. I worry for those who are suddenly without income, or whose income will undoubtedly be affected by this event.

And who knows what this will mean for the economy as a whole. The stock market has obviously taken a hit and interest rates have been lowered yet again. There’s no saying what the short and long term implications of this virus will bring on our local communities, on our country and on the world as a whole. So what DO we focus on during this time?

Here 6 Tips for Times of Financial Unease:

1) Cash is king

If I were you, I’d keep as much cash on hand as possible right now. There’s no saying who may lose their jobs or to what extent this will affect our economy. I highly recommend being as prepared as possible for a reduction in income, even if you don’t think it will happen to you.

2) Invest if you want, but play the long game

My husband and I are set to max out our Roth IRAs before April 15th for 2019 contributions, but that’s something we normally do anyway. I haven’t looked at the effect the stock market crash has had on our portfolios, nor will I. We have a long enough time period to retirement that our balances will recover. If you play the short game (aka trying to buy when low and sell when high) it’s likely you’ll get caught up in the emotions of the game and end up losing more than if you just invested and kept your money in.

3) Take control

It can feel like a lot is out of our control right now, and that’s because it is. What we can control right now is what we spend our money on and keeping track of what’s coming in and out. If you don’t already have a good budget/tracking system set up, now is the time to get one. I highly recommend Mint for tracking your expenses and keeping tabs on your money.

4) Help others

There will undoubtedly be people who suffer during this time, not only from the illness itself, but also from the effects of lost income. Help when you can. Offer meals to those you know are out of work, check in with your loved ones, ask what you can do for others. A little goes a long way.

5) Remember “This too shall pass”

Although I’ve adopted this as my mantra for parenting, the same goes for any sort of financial event we find ourselves in. The market crash of 2008 changed people’s lives forever, but just like that time period, what goes down must come up. Jobs, homes and reputations were lost, but after the fall individuals were able to slowly make the climb back to the other side. Brighter times are ahead.

6) Focus on the positive

It’s easy during this time to get sucked into the panic, fear and overwhelm going on in the media. Before you get too bogged down by it all, focus on what this time is giving you: added time with your family, an opportunity to appreciate your health, the ability to enjoy the great outdoors, the money that you do have. Repeat what you’re grateful for several times a day.

This is uncharted territory we are in and it is my wish for you that you stay as abundant as possible during this time. If you need financial guidance or have a question, don’t hesitate to reach out. You can email me at info@katieoelker.com.

Stay healthy out there my friends.

Katie O

6 Fun Alternatives to Black Friday Shopping

Hey there!

Happy Thanksgiving week! (How is that possible already?!)

It’s been a whirlwind over here as we moved last week into our new house and IT IS AMAZING. All the anxiety I was having about moving melted away after a few days. The neighbors are friendly, the trails are awesome, we are close to everything and it’s SO NICE having more space for our family!

Unfortunately the offer on our old house fell through, which was a total bummer. It’s back on the market but we actually may have a short-term renter lined up for 4 months starting at the beginning of the year, which would be great. Then we could decide from there if a) we want to continue to keep it as a rental or b) we can throw it back on the market. In my last post I wrote about how we decided we didn’t want to be landlords, but I’m rewarming up to the idea (especially as I think we would hire a property manager to handle it!)

So anyway, that’s what’s new on the home front. We’ve been spending money like whoa between getting the old house ready to sell and moving into/furnishing this new home and I’ll be the first to admit I’ve been neglecting looking at our bank accounts. I did log in the other day and paid off all our credit cards, so at least I’m on top of that! I also recently setup a trial for YNAB (You Need a Budget) and am trying it out. Seems there is a bit of a learning curve so I’m just getting used to it. Mint was giving me some connection troubles and thus, I decided to check out my options. I’ll report back with how I like it soon!

OK on to today’s post. So obviously Black Friday is huge here in the U.S. (and I know it’s worldwide now too!) and most of us get sucked into the buying trap that starts tomorrow and goes through next week (I’ve been seeing all these early Black Friday deals too - what is the world coming to?! hah)

I’m not here to encourage you not to shop but I WILL encourage you to make a plan and stick to it. No buying crap just because it’s on sale and a “good deal” Doesn’t matter if it’s a good deal if it's something you don’t really want/need or takes away from your other financial priorities (like saving money for something you really want or paying down debt!) And if you want to have something to distract you other than spending money (or unplanned money on purchases!) check out these alternatives to Black Friday shopping:

6 Fun Alternatives to Black Friday Shopping:

1) Have your family or friends over for brunch

A lot of people have off work Black Friday so why not have a little celebration? You can turn those leftovers into a brunch (turkey and stuffing egg bake anyone?) and enjoy the extra vacation day together.

2) Opt outside

Obviously this was made popular by the retailer REI here in the U.S., but it’s a great idea and one I think everyone should consider. Spending time outdoors is not only FREE, it’s also good for the mind, body and soul. I encourage you to check out a State park (a lot of them are free on Friday!), bundle up the family and take a walk to a park, get a group together to play some outdoor touch football, or go hiking (or skiing if you have snow!)

3) Go to a movie

So obviously this is not a free activity, but it’s MUCH cheaper than browsing the internet or heading out to the stores and impulse buying a bunch of crap you don’t need. And if you have the day off, what a great excuse to see the matinee and save money!

4) Plan a staycation day

If you’re feeling lazy after eating all that turkey, plan a day to stay home with your family. You can play some good old fashioned games, watch movies, or even have a dance party in your living room. All of these things are free and sure to create memories that will last longer than whatever material possession that can be found in stores.

5) Head out to a tree farm

If you’re feeling in the holiday spirit, take your family to a tree farm to pick out your tree for the holidays. Yes of course this will cost money, but it will be a fun way to get outside, spend time with your family and create memories along the way. Then you can head home to trim the tree while playing some holiday music!

6) Volunteer

Before I had kids I would deliver hot chocolates and care packages (Costco is a great place to buy things in bulk for something like this!) to the homeless. I’d literally pack up my car and offer the hot beverage and Ziploc bag of toiletries and warm socks/mittens to those on the street corners or waiting in line outside the homeless shelter. It was by far the most rewarding thing I’ve ever done, ever. There are lots of opportunities to use the money you would have spent shopping brightening someone else’s day or serving those who are in actual need.

Alright, so these are just a few things you can do instead of Black Friday shopping. There are obviously tons of other alternatives to consider but the point is to do SOMETHING other than go Black Friday shopping. Most of us really do not need to buy anything, and oftentimes what starts as innocent scrolling online or browsing in stores turns into full blown budget blowup.

I’d love to hear - what do you do on Black Friday other than go shopping? Let us know in the comments below!

And until next time…

Cheers to your abundance!

Katie

We bought a house!

Oh hey there!

The weather is cooling down here (we had our first snow that stuck to the ground yesterday!) and I'm pulling out all the sweaters and wool socks. I do enjoy the excuse to snuggle up and be a bit lazier this season, but am not ready for full blown winter quite yet!

There are a few BIG things happening over here in our household including the fact that WE BOUGHT A HOUSE! Well a new house, that is ;) We had been looking to upgrade our home for 1.5 years and finally found a beautiful home that we both agreed on (that seriously has been the hardest part this go around!) that is also in our price range. It’s bigger than our current home (by roughly 1000 sq. feet) and has everything we were looking for - open layout, 3 bedrooms on one level, a yard big enough for the dog to run around., no ridiculously small entry way. So basically, it’s perfect for us for this next stage of our life!

When we bought our current home 5 years ago I was the one who bought it (technically speaking). I also was the only one going to do the house tours being I had a more flexible schedule as a teacher and could go look earlier in the afternoons. The day our current home went on the market I went and looked at it, loved it and signed all the paperwork. My then fiance thought I was crazy, and couldn't believe I had moved forward without him having seen the house yet. Needless to say he looked the next morning and we submitted our offer right away (I knew he would love it and he did!) We got the house, and the rest has been history.

We got our first fur baby in this house, had our two baby girls and have made sooo many memories here. I've fallen in love with this lake community, my local moms group, and being in such a walk-able town. I also love being only 15 mins from my mom who helps us out a ton with our girls (and watches the oldest one day a week so I can get some stuff done!)

Needless to say, it's going to be tough to leave this home BUT we are thrilled to have more space, a POOL (that was my hubby's big thing!) and be closer to some of our closet friends. I'm sure we will grow to love our new town and make new SAHM friends too.

We went back and forth about using our current home as a rental (we ended up purchasing the next home without having to sell this current one as we had saved the minimum 5% required to put down) but ultimately decided we don't love the idea of being landlords and want to continue down our path of paying down debt and funding our index fund retirement accounts.

This new home will add roughly $100k to our mortgage total, and although my original plan was for us to be debt free by 40 (you can read more about that in my Biz Insider article here!) I'm hoping we can still pay down our new mortgage aggressively and be debt free shortly after that (OK maybe like another 5-10 years - I’ll report back with exact math once we sell our current home and figure out what else we are putting towards our new mortgage!)

We've been busting our butt to get our current home ready to go on the market this week - eek!

So that's the news in our world. I've been a bit quiet on the work front but there's been a lot going on at home so I wanted to pop in here and give you an update!

What about you? What’s new in your world? Would love to hear about your own life updates!

Until next time…

Cheers to your abundance!

Katie O

Using a No Spend Challenge to Save Money

Oh hey there!

Hard to believe it’s already mid-August - eek! Summer sure is flying.

Last month in my membership, the Kick Down Debt Club, I started a challenge to spend less and save more in order to keep our budgets on track through month end. It was so much fun (in a finance nerdy kind of way!)

Do you have a tendency to overspend or just need a way to jump start some savings? If so, I highly suggest adopting a No Spend Challenge of your own!

I also recorded a podcast outlining how to do this (which you can check out HERE!) but here's the written guidelines of how to conduct your own No Spend Challenge:

Step 1) Determine how long your challenge will run. I suggest 5-7 days max so you don’t get unmotivated as the time goes on, and also love using this type of challenge either at the beginning of the month to kick it off on the right foot, or at the end of the month to end on a strong note!

Step 2) Set a target for how many days you want to have be “no spend” days. “No spend” means days that are not including already planned for and necessary spending such as grocery trips, gas, bills etc.) I wouldn’t try to do the entire 5 or 7 days (depending on how long you decided to run the challenge for), but aim for a few no spend days out of that stretch.

Step 3) Get some accountability. Enlist your partner to join you in the challenge, tell a friend or coworker about it, or join us in the Kick Down Debt Club!

Step 4) Use a "Can Wait" list and write down all the things you are tempted to buy during this time (or add them to your virtual shopping cart!) Studies show that if you can postpone a purchase 24-48 hours, it’s more likely that you will convince yourself out of purchasing it all together.

Step 5) Celebrate in a non-monetary way when completed! It’s OK if you didn’t meet all the no spend days that you were hoping to. The point is to make you more mindful of your spending and create better habits moving forward. Indulge in a long bath, bake some cookies, or treat yourself in some other way that doesn’t cost money.

Step 6) Plan your next No Spend Challenge! Again, I love using these at the beginning or end of month. The next challenge we are doing is a No Spend Food challenge (aka limiting how much we get takeout/dine out!) If you’re interested in joining for the next one, check out the Club HERE!

Will you adopt your own No Spend Challenge? If so, leave a comment below and let me know! I love hearing from you.

Until next time…

Cheers to your abundance!

Katie O.

We hit the $100k investment mark!

Oh hey there!

Today I wanted to pen you a more personal post. One that outlines (and celebrates!) a recent milestone in our family….hitting the $100k investment mark!

Now for some of you this may be a ways off, and for some of you this may seem like nothing compared to what you have invested. Either way, it’s an accomplishment for us and one that I want to talk about. Personal finance is all about making it personal. Personally I don’t care where our neighbors, family members, friends, bosses, coworkers or other individuals are at. I care about where we are at and how far we’ve come (plus where we are going!) I hope you can adopt this mindset too.

Over the course of the past 10 years (mainly the past 5 however!) my hubby and I have invested a total of $100k into our different investment accounts. While that is an impressive accomplishment for us, I can tell you that it has not been all smooth sailing up until now.

When I decided to leave teaching to become a financial planner, our wallets took a hit. Not only were we missing out on stable income, I also left some stellar state benefits (including free healthcare!) My husband and I adjusted but also encountered higher than normal medical fees due to surgery and eventually, the birth of our first daughter. At this time we really cooled it on our investing. Heck - we were just trying to stay afloat from paycheck to paycheck! We also racked up a bit of medical and credit card debt and in my younger more foolish years, I sold out of some investments to pay that off.

Now while I definitely DO NOT typically recommend selling out of investments due to paying a fee and missing out on what that invested money would grow to, it felt like the right choice at the time to get us out of debt. Do I regret that choice? Not necessarily, but it definitely wasn’t one of my smartest financial moves.

That being said, we are now consumer debt free, and have very little car and student loan debt left (as well as a mortgage). If we wanted we could wipe out all debt with our savings, but I like balancing both savings and paying off the rest of our debt as the interest rates are quite low on what is left.

So how did we save $100k? Here is the backstory:

1) When I was 23 I opened a Roth IRA through Fidelity and started maxing it out ($5500/year at the time). I used part of what was saved when I turned 27 to purchase our first home. Although I no longer max it out due to needing more cash flow with me not working/working part time on my biz, we still invest in it each month automatically and plan to use some of the money penalty free to pay for our daughter’s education in the future.

2) My hubby opened his 401k through work as soon as possible, and starting saving into it up to the match to begin with. Since then we’ve increased the percentage that is taken out of his paycheck. I tell people to always put enough to qualify for the match - free money is free money! Although I don’t love that higher fees associated with 401ks/403bs they can work quite well as it’s money that never touches your hands and thus, has to be invested. ;)

3) When I started teaching, I put 10% into my 403b through my employer. When I left, I rolled it into an Individual Retirement Account (IRA) at Fidelity.

4) While working at Thrivent, my hubby opened a Roth IRA and started contributing to it.

5) When I started working as a Financial Planner, I opened up and contributed to the retirement plans offered (both 403b and then 401k). These were what I cashed out when I we paid off debt.

6) My husband’s company has a great Employee Stock Option Plan (ESOP) that we take advantage of. We can buy the company’s stock at a discount which is a great deal! In September, we plan to increase this percentage.

So that’s basically it! It’s been a combo of employer sponsored plans (such as 401k and 403b) and individual plans (IRAs and Roth IRAs)

As I mentioned we’ve definitely had some hiccups along the way, but I’m proud of us for bouncing back and recommitting to our investing goals. Even if we aren’t investing as much as we’d like to, it’s still something!

The reason I wrote this post was to encourage you to start investing or to continue investing (if you’ve already started!) We tend to get bogged down in the details of where or how to start. If you’re unsure what to do first, check to see if your employer offers a plan and if they offer a match. Then take advantage of that!

I’ll be posting more investment related blog articles in the future, so if there’s a particular topic you want to see or question you have you want me to answer, leave me a comment and let me know!

And as always, thanks for reading! I appreciate you letting me guide you on your financial freedom journey.

Until next time…

Cheers to your abundance!

-Katie

How to Conduct a 5 Minute Money Date

It’s Money Date Monday!

What the heck is a money date Monday? It’s the day/time you check in with your money, duh! ;) Kind of like those fun things you do with your friends or partner, but this time it involves #adulting.

Looking at your money does not have to be stressful or complicated. In fact, the more you do it, the easier it gets and less scary it seems!

Why review your money?

Easy. Because when you know what you’re spending money on throughout the month you are more likely to stick to your financial goals. If you have no idea where your money is going, it’s going to be really hard to pay off debt or increase your savings.

Why does it need to be a money “date”?

Money dates are important because if you don’t have a time scheduled to review your finances, it’s pretty likely something else will come up. If you have kids or a busy work life, you know that if you don’t schedule something, it doesn’t get done! Am I right?!

I like to use Mondays to review our family’s finances and am going to break the process down. It’s so easy in fact that you can do it within 5 minutes too! (and no, it doesn’t have to be a Monday but I just like the ring of it ha!)

Here goes!!!

How to Conduct a 5 Minute Money Date

1) Step one: login to Mint (or whatever financial tracking app you use)

Now if you manually enter all your numbers into a spreadsheet or even use pen and paper, then get out whatever system it is that you use. I love Mint personally because it automatically pulls from all our bank/credit card accounts and categorizes them, so I just have to log in to make sure the categorizations are correct and change the ones that are not.

2) Step two: review your balances

I like to start my money date by taking a peek at what our Bank Statement balances are on all checking, savings, and credit card accounts. This gives me a good overview of what we have going on in our accounts and if something looks off from this macro standpoint I can investigate from there.

3) Step three: review your transactions

I look through each transaction that occurred over the course of the past week to make sure that a) they are categorized correctly and b) there aren’t any strange transactions that I can’t place on there. You wouldn’t believe the number of times I’ve caught fraud on our account when conducing our money date! And then the transactions that are not categorized correctly I just quickly change.

4) Step four: check out your budget progress

This is one of the main reasons why I love Mint so much: they have the progress bars for each budget category that you have set. So when I look at these I can see how much we’ve spent for each category and how close we are to tapping out that month’s budgeted amount.

Now the point of budgeting is not to be super strict and obsess over every little dollar (well not in my world at least!). The point is to have an idea of what you’re spending your money on and use that knowledge to influence future decisions. For example, if I see we are getting close to tapping out our dining out budget but it’s only 3/4 through the month, I know we need to reign it in for the last portion of the month. Or if we haven’t spent much on other budgeted areas I will take that into account and assign those dollars to the category we are close to tapping out on.

5) Step five: pay off any revolving debt balances

So this is definitely an optional step depending on how you use credit (if you use it at all!) If you’ve read my travel hacking article (which you can check out HERE) I go into detail on how my hubby and I use credit cards to fund our love for travel. Now this method won’t work for everyone (especially if you have trouble overspending and are not able to pay off your balances in full every month!) but is super handy for those who want to rack up some rewards for the money they are going to spend anyway.

You can now set your credit cards to automatically pay in full before interest hits, however, I still like to pay ours down manually. This helps me feel more in control and assured that they are paid off and we will not be stuck with any interest. I typically complete step 5 every other week to align with my hubby’s paychecks. Again, this step is optional but I wanted to include it for those who use credit and like the idea of paying them off manually.

Alright - that’s it! That is how to conduct a 5 minute money date.

If you have questions on this method, feel free to leave a comment or email me at info@katieoelker.com. I’m happy to help in any way that I can.

What about you? Do you have a money date? How does yours work? Leave a comment below and let me know. I love hearing from you!

Until next time…

cheers to your abundance!

Katie O.