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Smart Money Tips: How to Budget and Save for a Career Break
Episode 14 - Smart Money Tips: How to Budget and Save for a Career Break
Ever dreamed of taking a career break but don’t know how to afford it? In this episode, we’re diving into smart money-saving strategies to help you fund your career break, sabbatical, or long-term travel—without financial stress.
Katrina McGhee, a career break coach, shares how she saved $40,000 in just 18 months and the exact steps you can follow to do the same. Whether you’re looking to travel the world, take a mental health break, or pivot careers, these proven budgeting and saving tips will set you up for success.
✅ How to track your spending and uncover hidden money leaks
✅ The power of budgeting with intention to maximize savings
✅ Where to put your money – high-yield savings accounts & lump sum strategies
✅ The importance of an exploration fund to stay motivated while saving
✅ How to shift from saving mode to actually taking your break
💡 Plus, Katrina shares how half of her savings came from lump sums—and how you can do it too!
Timestamps
🔹 00:00 – Introduction to the episode and guest, Katrina McGhee
🔹 00:47 – Overview: Saving $40,000 in 18 months for a career break
🔹 02:14 – Step 1: Track Your Spending – Why awareness is key
🔹 04:10 – The mindset shift: Being honest about spending habits
🔹 06:06 – Step 2: Budget & Align Your Spending – Setting realistic financial goals
🔹 08:05 – Step 3: Save Lump Sums – How bonuses, refunds & windfalls accelerate savings
🔹 09:08 – The importance of putting money away immediately
🔹 10:44 – Step 4: Create an Exploration Fund – Avoiding burnout while saving
🔹 13:11 – Why an exploration fund makes life more enjoyable
🔹 14:28 – Step 5: Celebrate Your Progress – The importance of tracking milestones
🔹 16:30 – Step 6: Give Yourself Permission to Spend on Joy & Wellbeing
🔹 18:09 – Episode wrap-up and key takeaways
If you have any questions, please feel free to get in touch today to start your journey!
Book a coaching session - https://kmcgheecoaching.as.me/schedule.php
Join the waitlist for the BreakSpace community - https://www.beyondabreak.com/breakspace
Purchase Taking a Career Break for Dummies - https://www.kmcgheecoaching.com/book
Email - [email protected]
Hosted on Acast. See acast.com/privacy for more information.
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By Winging It Productions
5
1111 ratings
Episode 14 - Smart Money Tips: How to Budget and Save for a Career Break
Ever dreamed of taking a career break but don’t know how to afford it? In this episode, we’re diving into smart money-saving strategies to help you fund your career break, sabbatical, or long-term travel—without financial stress.
Katrina McGhee, a career break coach, shares how she saved $40,000 in just 18 months and the exact steps you can follow to do the same. Whether you’re looking to travel the world, take a mental health break, or pivot careers, these proven budgeting and saving tips will set you up for success.
✅ How to track your spending and uncover hidden money leaks
✅ The power of budgeting with intention to maximize savings
✅ Where to put your money – high-yield savings accounts & lump sum strategies
✅ The importance of an exploration fund to stay motivated while saving
✅ How to shift from saving mode to actually taking your break
💡 Plus, Katrina shares how half of her savings came from lump sums—and how you can do it too!
Timestamps
🔹 00:00 – Introduction to the episode and guest, Katrina McGhee
🔹 00:47 – Overview: Saving $40,000 in 18 months for a career break
🔹 02:14 – Step 1: Track Your Spending – Why awareness is key
🔹 04:10 – The mindset shift: Being honest about spending habits
🔹 06:06 – Step 2: Budget & Align Your Spending – Setting realistic financial goals
🔹 08:05 – Step 3: Save Lump Sums – How bonuses, refunds & windfalls accelerate savings
🔹 09:08 – The importance of putting money away immediately
🔹 10:44 – Step 4: Create an Exploration Fund – Avoiding burnout while saving
🔹 13:11 – Why an exploration fund makes life more enjoyable
🔹 14:28 – Step 5: Celebrate Your Progress – The importance of tracking milestones
🔹 16:30 – Step 6: Give Yourself Permission to Spend on Joy & Wellbeing
🔹 18:09 – Episode wrap-up and key takeaways
If you have any questions, please feel free to get in touch today to start your journey!
Book a coaching session - https://kmcgheecoaching.as.me/schedule.php
Join the waitlist for the BreakSpace community - https://www.beyondabreak.com/breakspace
Purchase Taking a Career Break for Dummies - https://www.kmcgheecoaching.com/book
Email - [email protected]
Hosted on Acast. See acast.com/privacy for more information.