Contact Information

4505 Glencoe Ave, Marina Del Rey, CA 90292

Welcome to #PayDayDiaries 😍 where we provide suggestions on how your current financial status can meet your long term money goals, and then let our community crowdsource the rest. 💪🏽

How it works:

  1. Submit your details.
  2. We will randomly choose a submission and post it on our Instagram: @financesnacks.
  3. Our community will then discuss how to strategize your paycheck per their own personal experiences.
  4. We’ll let you know if your submission has been chosen. Some like to comment on their own #PayDayDiaries via their personal Instagram accounts or via fake Instagram accounts to help encourage further discussion.

Our #MoneyFundamentals:

At Finance Snacks, we believe that getting into the habit of saving & investing with each paycheck ASAP helps to accelerate our path towards financial independence. Additionally, not all debt is toxic. Some debt is used for growth. So in the situation where a person has 1-6% interest debt, we would encourage that person to consider also funding their investing accounts, even if it’s just $50 a month because of the power of #compounding

  • 🚨 Debt: Not all debt is bad debt, any debt with an interest rate of 6% (subject to change) above should be stabilized via a heavy payoff plan, balance transfers or personal loan consolidation (where the numbers make sense). We believe this because due to the power of compound interest one should not miss out on these benefits.
  • 🚑 Emergency Funds: Should be around 6 – 9 months times your monthly fixed costs
  • 👵👴 Retirement: One should always have a plan to maximize all of their retirement accounts available to them. For example, let’s say that a ROTH IRA is the only retirement account available to you, this is how we would see the scenario:
    • Assumptions:
      • Maximum Limit: Maximum limit for a Roth IRA: $6000 (2020)
      • Paycheck Frequency: Receives two steady monthly paychecks at the beginning of the month and at the end of the month
      • Tax Beneficial: It is long term tax beneficial to contribute to a ROTH IRA
    • Conclusion:
      • Allocate $250 per paycheck to a ROTH IRAThe math: $6000 maximum limit / 24 paychecks = $250 per paycheck allocation
  • 💸 Investing: In our view, there are two types of investing, one is for retirement and one is with brokerage accounts, real estate, cryptocurrencies and accredited investments. When it comes to investing one should always:
    • Complete their emergency fund (6-9 months)
    • Stabilize their toxic debt (via a heavy payoff plan, balance transfers, or personal loan consolidation)
    • Plan to maximize their retirement accounts (Roth IRA, 401k etc.) per paycheck

  • 🤔 Comments/Thoughts? If you do not agree with these principles, we are always up for discussion. Feel free to email us your thoughts at hello at financesnacks.com.

Check out some of our latest #PayDayDiaries posts on the ‘gram