High 5 Budgeting

Schedule a Meeting

I ran across a really cool budgeting idea that I thought would be worth sharing.

This is the High-5 Banking Method and it’s super simple to apply because not only does it take into consideration emergency savings, it also takes into consideration your lifestyle budget.

I believe this is one of the major reasons most people fail at budgeting, because they think they have to reduce their lifestyle to eating rice and beans.

I’ll tell you more about this, But first, let me ask you a question.

The question is, how do you as a 401k or 403b participant become a 401k superhero to your future self?

That is the question, and these videos will give you the answers. Hey, I’m Jonathon Schultheiss and welcome to the Becoming a 401k superhero videos.

Here is the High-5 Banking Method is a nutshell.

It consists of 5 bank accounts. 2 checking and 3 savings accounts.

1 checking account for your bills, and 1 checking account for your lifestyle. Then 1 savings account for your emergency savings, 1 for your long term goals and 1 for your short term goals.

Now you are assigning every dollar a task and giving it a job. When we don’t have a purpose with our money, that’s when we tend to overspend.

With this method you have purpose with ever dollar you make.

Some dollars go to bills and some go to lifestyle, like going out to eat, or to the movies. Plus you are assigning money to goals as well.

Maybe you have a vacation goal. That’s a great use of your short-term goal fund.

Maybe your goal is to save a down payment for a bigger house, that would be a great use of your long term goal fund.

You can learn more about the High-5 Banking Method by just simply googling it.

This is really a very simple method for making your money work for you. In fact, when you make your money work for you, you are for sure becoming a 401k superhero to your future self.

If you would like to learn more about how you can become a 401k superhero to your future self, or if there is anything me or my team can help you with, just click on the link above and lets schedule a time for a conversation today.