3-2-1: Side Hustles // Money Management for Couples // Mint Alternatives

Estimated Read time: 3 mins 47 secs

Hey, I’m Janet! I started Doing Well because I have felt the shame and overwhelm that comes with navigating personal finances on your own. We are here to empower you through monthly bookkeeping and personal 1x1 coaching so you can have the confidence and peace of mind to live your best life.

// 3 tips //

1/ Best Side Hustle Ideas: 12 Ways to Earn Extra Income in 2024
If you're looking to make extra income, here are some ideas for side hustles in 2024. [Read the blog]

2/ Money Management Methods for Couples
Three different methods you and your partner can use to manage money in your relationship. [Read the blog]

3/ Mint Alternatives: Best Personal Finance Budgeting Apps
10 best Mint alternatives that you can consider as a replacement after Mint shuts down. [Read the blog]

// 2 questions //

1/ Question: What’s the best + fastest way to pay off ~$10k of credit card debt?

Answer: I'd first check your budget again and make sure your expenses are much lower than your income. Being self-employed can be great, but if you have a super low income, having low expenses is the best way to tackle it. Then, I'd pay anything over your expenses to the debt no matter how much the variance is. If you made $1,000 more than expected, then all that goes to the debt. I'd also talk to a CPA if you haven't already to possibly set up an s-corp (it could help save taxes being self-employed).

2/ Question: Almost $200k to my name. 45 years old. Self employed. Where do I stick $50k of it.

Answer: First thing, I'd stop putting extra money to your mortgage unless you absolutley don't want the debt aymore. The interest is so low that you could be making more elsewhere. You could do a SEP IRA, and now there's finally a ROTH SEP option you could do. If you're wanting to put away $50k, then this is probably the best option. Before though, I'd talk to a financial advisor cause there's rules to who can and can't open this type of account and how much you can put in (25% of business compensation). They could also probably run all the different scenarios to see how they stack up against each other.

Any questions? Email us at [email protected] or book a coaching session.

// 1 smile //

Doing Well is here to be your partner in financial management and put you on a steady path to personal financial success. 

• Build a solid financial plan and budget based on your personal needs

• Categorize and organize your expenses to be CPA-ready

• Provide clarity into your credit, spending and debt situation

• Conduct audits of your insurance coverage and retirement plan

• Recurring live coaching calls and ongoing support tailored to you

We want you to start Doing Well so that you can focus on living your best life.

Our coaches are ready to help you get started: Book a coaching sessi