Snag Our Signature Budget Template!
👋 Hey there, amazing listeners! Are you ready to take your budgeting skills from beginner to pro? If you've ever felt stuck or paralyzed when it comes to budgeting and wondered when to start saving or paying off debt, you're in the right place! We're here to guide you through the steps to level up your budgeting game. Let's go from that initial budget creation to building a legacy. 🚀
👩👧👦 Let's talk about the three phases of budgeting – Beginner, Middle, and Pro!
Beginner Budgeting - Getting Started:
- Many of our clients and listeners have never started a budget or found it hard to stick to one. Don't worry; you're not alone!
- The first step is to get on a budget, and we're here to help you with that.
- Start by creating a Bills Account where you'll pay your bills and debt from your income.
- Separate your bills from your spending and focus on minimal spending. Ask yourself, "What do I absolutely need?"
- Keep your spending categories minimal at the beginning – pocket money, restaurant expenses, gas, and groceries.
- Create wiggle room in your budget by cutting unnecessary expenses and putting extra money toward debt.
Middle Budgeting - Learning and Perfecting:
- In the middle phase, you're still learning, but you're not a beginner anymore.
- Perfect your Paycheck Plan: Deposit your income into a Bills Account, then allocate it to spending and savings.
- Implement automation to fund your categories automatically.
- Add minimal savings buckets for immediate needs like holidays, car maintenance, and birthdays.
- Start identifying and planning for "unexpected" expenses ahead of time.
- Continue to pay off debt while building good budgeting habits.
Pro Budgeting - Graduating to Pro Status:
- Congratulations! You've graduated to the Pro level of budgeting.
- Fully fund your savings buckets and plan for expenses 12 months ahead.
- Consider ramping up your investments, like increasing contributions to retirement plans or starting a Roth IRA.
- Refine your spending habits and reduce unnecessary expenses.
- Have conversations about responsible spending with your kids and teach them about budgeting.
- Enjoy the freedom of being more generous, whether it's giving to causes you care about or helping your kids with their financial future.
- Dream big and set ambitious financial goals, watching your net worth grow and securing your financial future.
🏦 Remember, you're the boss of your money now, and you can make it work for you!
🚀 Ready to level up your budgeting game? Grab our Budget Power Hour at myendobalance.com/workshop and take control of your financial future. You've got this! 💪
Thanks for joining us today on this budgeting journey. We hope you found this episode helpful and empowering. Until next time, keep budgeting, keep growing, and keep smiling! 😊🌟
4 Ways To Connect With Us:
1️⃣ FREE CALL: Book your FREE 20-Minute Financial Coaching Call now! Get personalized advice and start your financial journey ➡︎ https://www.budgetbesties.com/freecall
2️⃣ FACEBOOK: Become part of our Supportive Facebook Group. Connect, share, and learn with others mastering their budget skills ➡︎ https://www.budgetbesties.com/facebook
3️⃣ BUDGET: Grab our Signature Budget Template! It's your key to organizing and optimizing your finances effectively ➡︎ https://budgetbesties.com/budget
4️⃣ COACHING: Ready to dive deep into your finances? Sign up for 1-on-1 or Group Financial Coaching. It’s the accountability and guidance you need to make real progress ➡︎ https://budgetbesties.com/coaching
"I love Shana & Vanessa and this podcast is amazing!" < If that sounds like you, please consider rating and reviewing our show! It helps us to reach more people – just like you – to help them change their financial future. Don’t forget to follow the show so you don’t miss any episodes! And, if you’re feeling really generous, we’d be SO honored if you would share this podcast with someone.
Click here to view our privacy policy.
This description may contain affiliate links, meaning we may get a commission at no cost to you if you click & purchase!
--- Send in a voice message: https://podcasters.spotify.com/pod/show/idealbalance/message255 | Quick and Easy June Budget Setup: Start the Month Right
254 | Creating a Memorable Summer on a Budget: Tips for Camps, Vacations, and More
253 | How to Stay Ahead: Budget Tips for High-Expense & Busy Months
252 | Stop Wasting Money: How Dreams Turn into Budgeting Goals
251 | Real-Life Financial Makeovers: Strategies for Paying Off Debt and Saving
250 | Budgeting Tips for Busy Moms: Making Every Penny Count
249 | Money Talks for Moms: Handling Tuition, Teens, Sports, Dance Class, Celebrations and Other Unexpected Expenses
248 | Budgeting Breakthrough: Transforming Good Incomes into Great Savings
247 | Smart Spending: Helping Women Feel Good About Budgeting Needs and Wants
246 | Are You Sabotaging Your Budget? Signs You're Not Ready
245 | Money Talks: How to Conquer Debt and Create Generational Wealth w/ Holly Logan
244 | Crafting Custom Budgets: Insights from Client Sessions to Strengthen Your Financial Plan
243 | Breaking the Paycheck-to-Paycheck Cycle: 5 Reasons You Make Good Money and Have Nothing to Show for It
242 | Managing Money When Paychecks Fluctuate: A Guide to Achieving Financial Peace and Organization
241 | Make Your May Budget: A Step-by-Step Guide + All The Extra Things To Plan For In May
240 | Financial Freedom: Confronting Personal Myths and Unpacking Money Baggage
239 | Budget Mastery with Single Mom Veronica
238 | Budgeting Basics: From Bills to Personal Spending
237 | Packing Joy, Not Debt: How to Plan, Budget & Save For Family Vacations and Travel
236 | Breaking the Cycle: How Darlene, a Single Mom, Plans to Escape Living Paycheck to Paycheck
Create your
podcast in
minutes
It is Free
Navigating Life After 40
Science of Reading: The Podcast
The Minimal Mom
The Retirement Wisdom Podcast
Old Fashioned On Purpose