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17. Budgeting Basics

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Contenuto fornito da Bethany Bayless. Tutti i contenuti dei podcast, inclusi episodi, grafica e descrizioni dei podcast, vengono caricati e forniti direttamente da Bethany Bayless o dal partner della piattaforma podcast. Se ritieni che qualcuno stia utilizzando la tua opera protetta da copyright senza la tua autorizzazione, puoi seguire la procedura descritta qui https://it.player.fm/legal.

Welcome back to The Motherhood and Money Show where we are getting back to the basics this week with budgeting. In this episode we cover:
Why do we budget?:

  • Permission to spend
  • Keeps us in check as a boundary
  • Stress relief: know what’s coming in and out
  • Track financial goals
  • Spending on what’s important to you
  • Know where every dollar is going

What is a budget?:

  • It’s a plan for your money
  • Not restrictive
  • Personal to you: based on your lifestyle and choices and not everyone’s is going to look the same

How do you start?:

  • Pick a platform: paper, excel, app (Mint, YNAB, Quicken, Every Dollar, etc).
  • Zero-based budgeting: every dollar has a plan
  • List out income: variable or steady. This is what you have to work with!
  • List out expenses: mortgage/rent, utilities, food, etc. You can be as detailed as you want
  • Debts (debt snowball or debt avalanche)
  • Savings (sinking funds & other savings like emergency fund)
  • Other goals
  • Tracking expenses through the month vs. cash envelopes
  • The total of all expenses, debt and savings should equal income. If it doesn’t equal, go back and cut things or add to other categories.
  • If you’ve never budgeted before, take a look at the last couple months of your spending to know how much to budget for.
  • It takes a few months to get in the habit!
  continue reading

87 episodi

Artwork
iconCondividi
 
Manage episode 292318486 series 2868042
Contenuto fornito da Bethany Bayless. Tutti i contenuti dei podcast, inclusi episodi, grafica e descrizioni dei podcast, vengono caricati e forniti direttamente da Bethany Bayless o dal partner della piattaforma podcast. Se ritieni che qualcuno stia utilizzando la tua opera protetta da copyright senza la tua autorizzazione, puoi seguire la procedura descritta qui https://it.player.fm/legal.

Welcome back to The Motherhood and Money Show where we are getting back to the basics this week with budgeting. In this episode we cover:
Why do we budget?:

  • Permission to spend
  • Keeps us in check as a boundary
  • Stress relief: know what’s coming in and out
  • Track financial goals
  • Spending on what’s important to you
  • Know where every dollar is going

What is a budget?:

  • It’s a plan for your money
  • Not restrictive
  • Personal to you: based on your lifestyle and choices and not everyone’s is going to look the same

How do you start?:

  • Pick a platform: paper, excel, app (Mint, YNAB, Quicken, Every Dollar, etc).
  • Zero-based budgeting: every dollar has a plan
  • List out income: variable or steady. This is what you have to work with!
  • List out expenses: mortgage/rent, utilities, food, etc. You can be as detailed as you want
  • Debts (debt snowball or debt avalanche)
  • Savings (sinking funds & other savings like emergency fund)
  • Other goals
  • Tracking expenses through the month vs. cash envelopes
  • The total of all expenses, debt and savings should equal income. If it doesn’t equal, go back and cut things or add to other categories.
  • If you’ve never budgeted before, take a look at the last couple months of your spending to know how much to budget for.
  • It takes a few months to get in the habit!
  continue reading

87 episodi

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