Past Due: Radio 140 – Never Beyond Budgeting
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Budgeting isn’t very popular or sexy in the wide world of personal financial topics. Comparing budgeting to understanding ETFs is like comparing a Pinto to a Porsche.
However, a quick study of millionaires reveals that they budget their money. They have a plan for every dollar because they want every dollar to work well for them, no matter the capacity. So, if the millionaires are doing it, we’re never really beyond budgeting.
Today, I discussed three basic components of a budget, three spending areas to pay close attention to, and the process I personally use (and that we’ve taught to hundreds of families around the country) for planning where your money goes.
From understanding opportunity cost to looking critically at your food spending, from tracking your spending for a month to preparing a budget before the next month begins, this show gets back to basics so you can succeed.
Recommended Percentages – See how your individual spending categories stack up to our guidelines for a healthy budget
Quick Budget – Use this simple worksheet to create a forward-looking plan for your money next month