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016 – Budgeting Sucks, Do This Instead

Real Personal Finance Podcast

016 – Budgeting Sucks, Do This Instead

In this episode: Budgeting sucks …. Do this instead

Budgeting …  It’s feels so negative

Instead think of align your cashflow with your life

Shout out to First Steps Cash Management – You can easily do this at home.

Instead of thinking about cash in one bucket, break it into three buckets.

Static  – Past – Fixed expenses that don’t change

Control – Weekly expenses that vary 

Dynamic – Planning for the expected and unexpected

For salaried people, use the net pay from your paycheck

For 1099 – Small business owners (lump in all costs of business and add a tax estimate for fed and state)  

Once you make your first iteration, ask yourself … is this ideal?  Is there anything I can change.  

If you have bucket totals side by side … are you paying so much to past commitments that you cannot enjoy life while planning your future?  How you can you change this? Can you reduce your static expenses?  

Can you increase your income?  

Once you know what you want, automate as much of it as you can. 





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