Budgeting For Beginners | The Only Budgeting Method You Need To Worry About!

[@bettedavis9261]

I've been doing a zero based budget since I was 17 (45 years). It's worked like a charm. I'm old-school... paper and pencil for me.

[@nanalamystique]

Me too old fashioned but I am 27 😂

[@monicalifornia_]

Good on ya! 💯💯 Dave was paper too. Remember the envelope system? Times they are a changin. 🤦🏽‍♀️

[@TCAPRecipes]

Still pen and paper here too.

[@johnsantiago4810]

This app SAVED my wife and I's finances. Before budgeting, we were deep in debt with barely to no emergency fund and savings. Then in November of 2018, we had the "I'm sick and tired of being sick and tired of being broke" moment. We decided to start budgeting using this app, and followed Dave Ramsey's baby steps, then after almost 2 years, we paid off all our debt, fully funded our 6-month emergency fund, saved money in all our sinking funds then started saving in our 401k. Praise God for Dave Ramsey's life-changing financial teachings!

[@michelleparks4582]

I really like you in this format, George. Your true personality really shines through and it's marvelous!🎉❤

[@nicholasschreck713]

I feel like monetary giving should be paused until out of debt. In this example if this person would give time and volunteer as their side hustle it would pay the $400 effectively since that is the giving amount George decided on.

[@slyfox909]

Editors are on point 👌

[@lancejohnston5866]

Your video editor needs a raise. I’m dying at all the inserted clips

[@qb8628]

That first clip LMAO

[@anthonywilliams9415]

📠

[@theclarionhall4755]

The music choices are great too!

[@vanessabegay5754]

The bacon bit got me!! 😂😂

[@joeltroughton3021]

At least he is acknowledging the after tax income. How has Dave not done the similar calculations when he gets callers.

[@Pstmstr]

Reading some of these comments from people about a guy trying to help people budget makes me realize what sad pathetic lives some people lead.

[@CarisaSanchez]

I would love a video on how to budget with an irregular income.

[@mattmcnamara2345]

George, I absolutely love this content. As a business owner who doesn't know their exact income for the month, can you please make a video about variable income and budgeting?

[@tracymorgan6160]

George you crack me up! Average single person bringing home 4,000 a month, I wish🙄

[@KentPittsburgh]

My problem is that I do this and see myself going over budget and I'm like yep, I'm going over budget as I proceed to spend more.

[@Pstmstr]

Yep, a common problem. That over spending is either going to debt or depleting cash. It’s fixable by increasing income or reducing spending.

[@pitita585]

He is such a great, refreshing addition to the Ramsey family. But one area they need to get with the times on is the true cost of housing in 2023. Sure there are places in maybe Alabama and North Dakota where you might be able to spend $900 on rent, but how often does that exist anymore? In live in NJ, and a 1 bedroom apartment with bullet holes in the walls runs about $1400. If you want to live in a mostly safe area with clear water running from the faucets, it’s closer to $1550. On a 74k annual salary, this is about 35-42% of take home pay. $1000 per month for an apartment simply does not exist anymore. Not anywhere in this state.

[@TheJCFiles]

1. Please make a video on irregular income 2. Does Everydollar work for UK?

[@mariacorretge6615]

Make Everydollar available to the UK, pretty please!!!!

[@Frosty2014]

Love the content George God bless!!!

[@francoisnguyen6623]

I’ve used this budgeting app nearly a year now. It’s not perfect but it really helped us track our spending on the go. I use this in conjunction with Google spreadsheet. The app for everyday tracking and spending on the go. And I use the spreadsheets to do monthly tally and easier to see month-to-month trend throughput the year.

[@mariorta5017]

Do the outdoor cats (like 9) count as giving 🤔? I feed them everyday, including the armadillo and my neighbors dog eat at my home every night. 😂

[@eunicedominguez8011]

Hi George! I’m a single mother of 4 children from New York. Please help me to change my family tree. I’m from El Salvador, I’m learning a lot from David Ramsey , but I specially like the way you explain things, God bless you!

[@Mk7Albert]

The first step would probably be to get out of that expensive state 😭😭

[@shailee9762]

You could do it! I have 5 children and we live in California. An expensive state too. I would say try to save as much as possible and start to invest early. Buy only the stuffs you need. It’s ok to treat yourself once a while but don’t over treat yourself to the point where you erase all those sacrifices you did. I

[@miafaucher9617]

love your content, but dont you think giving $400 a month to church is a bet high? I feel 100-200 is good as you have to prioritize yourself first to make sure you are a good spot before you can give back.

[@AmandaRogersarock1988]

If you were in that much debt, you would pause the $400 to the church until you were out of debt. Then you could snowball the debt with that extra $400.00/month.

[@corbinamondo]

Then you'd be stealing from God

[@InterwebUser-ps7ju]

@@corbinamondoNo you wouldn’t. You just wouldn’t be paying the business corporation that calls themselves “the church” they need that money to pay the rent on the building, preachers salary, electric, water, and so on. It’s not biblical to pay for these things and say that it is for God.

[@danielgould-werth4553]

My favorite part is when he referenced the carving station guy from old country buffet.

[@HarveyThibault]

Would love to see this for someone whose paycheck changes every week depending on taking call, overtime, and pay differential depending on hours worked.

[@rachelcrossen8136]

Estimate low. Anything over that goes to whatever step you are on

[@chaselesser3191]

I think you would need a weekly budget to keep you on track. Separate money for the bigger bills like rent. I get paid and start seeing how much I need until the next paycheck. And pay certain bills off. And dump what I can into the debt. I did have money going to separate accounts. One for bills and one to spend. But it wasn’t working well for me. I thrive on living on the edge.

[@monicalifornia_]

Where do you put a “one off” drawn down from an investment? (Like for a holiday or home improvement). Call it a fund with a beginning balance? Or is a paycheck?

[@UniversalTitleHere]

Irregular income budget video, YES PLEASE!

[@mybdayis420]

pay yourself first budget has always worked for me

[@entrepreneurlife649]

I'd like to see how you save up your first $1000 for BS1. If saving is a top line item, how much do you put in it? Should it be informed by the expenses below it? Does that make it a bottom line item then? Such as, if i put down $250 per month into the BS1 fund, go through my other expenses and im at -$50. Should I save $200/mo or cut from something?

[@DelavarPix]

Both. You cannot save more for BS 1 than you have in cash. However, if you are able to squeeze another category, then you'll be able to put more into the emergency fund. There's also the additional hours or side hustle to increase money coming in.

[@mikeykelch50]

I would love to see the video of this with a freelancer income that varies from gig to gig

[@RobVI]

Yes do a video on irregular income budgeting

[@JerryinSEMO]

The inserted clips are just too much……….fun!😂

[@kodypilger]

I’m from Canada and I call that ham lol.

[@supermist]

Had to comment on the Earthbound sound clip

[@moneyperspectives]

Your budget is your bff

[@JJJobson]

Pro Tip Budget the next month with this months pay. That way you know exactly to a T what you need to budget

[@viljoisgreat7027]

I love the EveryDollar App! I actually look forward to setting it up every month. It’s fun to play with the money and see how much I can save for my future goals!

[@JillRuckman]

Me too!

[@lovedchild4812]

you just encouraged with the giving to local church part. 😊

[@loganohandley]

Hey George! All, items are great. However, I wanted to asked how would budgeting work when your paycheck is monthly, and it comes on the 20th of each month?

[@user-tj6ht4hl2j]

Can you make a video about decent side hustles you can do at home without too much time?

[@brendant2180]

how did you calculate that someone making $70k pays $22k in taxes? i make $69k, i don't think mine was quite that high even with SS & Medicare. wanna say it was about $12-13k, and i'm in the suburbs of chicago IL

[@GeorgeKamel]

I overestimated because people lose their minds if I underestimate. Many do have extra deductions like healthcare, investing, etc taken out before they see their checks, which will of course get closer to that 60-70% take home number.

[@kkmt5292]

Yes video irregular income! Thanks!!

[@shivahosseinnejad]

Isn't it better and safer for people to lower the giving budget when they are in tight budget? Like removing the giving or like making it half. They can give more when they are debtfree.

[@TeamWilsonCoaching]

Great Video!

[@juliesalinas6047]

So here's where I get stuck. 1. I'd like a deeper dive on funds and Savings. It seems I don't have to make a transaction for each is that correct? If I have a line item for them, then they are already part of my income? 2. Do I need to reconcile at the end of each month? I'm on my first month and I like seeing the red where I know I've spent over and may need to adjust the next month. 3. When I earn interest on my savings accounts, do I add that to my planned income as it comes in and then move it to a planned category? 4. I have the premium version and when I transfer money from my checking to my savings accounts I get the pluses and minuses transactions and that just drives me crazy. 5. I feel like I keep expecting the balances to match my bank accounts and it never does....it's a mental shift I think that I'd like to hear if others have the same experience. 6. Finally...this has always been my problem with budgeting. Just because it's written down, doesn't mean I'll do it. I would love to have some thoughts about how to make that mental and emotional shift - from spending to planning to spend. I think Dr John would be good to contribute to this. It's great to want to be purposeful and want to get hold of our finances, but when you have some really old tapes in your head about money, those are your default and overwriting them to do good is really hard.

[@DelavarPix]

1. If you have a separate account that is linked to your main account, it is easier to track the emergency funds and savings funds. 2. The reconciliation works best if you keep on top of it each day. Every time you see a charge come through, put it into the budget line item. (Remember to split the expense if it is in two or more budget buckets.) By doing that, you can be waaaay ahead of finding yourself in a panic at the end of the month. 3. Interest is probably going to be close to the same amount each month. I would add an income category for interest and just put it there, if you don't want to throw it into a paycheck line. 4. Yeah, the positive and negative transactions can be touchy to get used to. If you are tracking a fund, make sure that you put the correct one in that line item. You can always delete a transaction like that if it doesn't fit into your strategy of how you use the app. 5. This is where the paycheck planner is terribly useful. When you include an accurate "carry over amount" at the beginning of the month's plan, and if you are diligent about setting the appropriate items at the appropriate dates in the month, the paycheck planner should pretty closely match your actual bank account. 6. Paging Dr. John. Isn't that the truth?

[@MrBaalin]

Thanks for the app recommendation... I know it's in-network but I did JUST need one recently.

[@raycruz3094]

My honest confusion about the whole zero based budgeting is the planned vs actual amount you need to put in. I honestly don't know what goes in what.

[@c7042]

I was paid monthly and my budget has always been spend less that I make. I suck at investing though because I'm impatient. So I invest in CDs and that causes me to lose out on opportunity. I'm ok but not rich by any means. My income on retirement is actually more than my job paid and I only spend 1/3 of it and invest the rest. This will absolutely not benefit me in the least but it will benefit my sons later which is important to me. NW=$500K+

[@scrubs4everr]

"A great restaurant called 'Mi Casa'" 😂

[@CandiceMorton]

Great video lots of helpful info!

[@Jcribbs40]

What’s the best way to create a budget if you get paid weekly?

[@raycruz3094]

What about the rollover? Actual money that wasn't spent.

[@AmberWeise]

Now im going to think about invisible numbers when i hear blink-182

[@kevgret]

Giving 10% of your salary away when you are in debt seems a bit contradictory to the plan. Get out of debt at all costs THEN give. Especially when he says you can't afford to eat out

[@entrepreneurlife649]

Tithing is more of a Biblical command than a nice thing to do. Going beyond 10% is called an offering and is voluntary. He chose to give back to God the minimum requested.

[@Shane-dq7ls]

I completely agree also when he said stop taking the employee match that made me mad because that is like making 100% on your money instantly that beats any debt rates

[@gm2407]

@0:29 So this video is about 'rash decisions'.

[@MrFrugal239]

George, I absolutely love this video! However, you know that an $80 a month cell phone bill can be more like $20-30 a month with a MVNO service such as Mint or Visible. Unless, you were considering that the average person is financing their phone and therefore the total is not only service but the actual payments on the phone?

[@morbotheturtle3796]

To be fair, some categories were lower than they should have been too. But it is an example budget. Every situation would be different. Like you should probably shouldn’t have verizon when you are in debt. But $500 is also a lot on food for one person.

[@GeorgeKamel]

If I said $20 for cell phone I’d get chewed out in the comments, too. I made it clear this was an example and your numbers will be different 😄

[@morbotheturtle3796]

@@GeorgeKamel that’s true. By the looks of it, people always find stuff to complain about when it comes to making a budget 😂

[@GeorgeKamel]

@@morbotheturtle3796 ding ding ding

[@alechorn1109]

Now that Mint is no more, is there another tool that you recommend?

[@Gyuhfy]

Is it okay to use nerd wallet instead? Asking forafriend👀

[@mariacorretge6615]

Great video

[@rocket8351]

I shouldnt get so much joy from the Blink 182 references.

[@allieroze278]

How do you calculate the taxes automatically or predict it?

[@bissy_in_melbourne]

I'm in Australia and just tried to download this but says not available in your region... has anyone here been able to access it?

[@wayward03]

Those utilities are really low except electric. Rent is low. 1200 is not 25% of 4k.

[@francescoosto2864]

My bills are 2300. At the end of every month I make sure I have that in their to pay rent and other bills on the first before I get paid on 15. All money coming in has a job (0-based budget). Does that mean that my BUFFER is 2300?

[@savanah1407]

It’s funny because we do suck at soccer! 😂

[@beyondcleon]

$400 per MONTH to a church is extremely generous and seems like it could be done in Baby Step 7 after tackling this hypothetical debt.

[@veronicagilmore9654]

How in the world is your health insurance $75 a month? 🤯 we can’t even afford insurance from my husband’s job bc it’s $400 a WEEK plus a $9k deductible for a fam of 4.

[@GeorgeKamel]

You must live in Canada or have terrible healthcare through his employer. $20K in yearly premiums is insane.

[@mensb1936]

Wow shop around or talk to an independent agent. $300/month for 4 of us with 7k deductible

[@veronicagilmore9654]

@@GeorgeKamel nope I live in Virginia and I agree it is insane so that’s why we don’t have any insurance now.

[@kentwood6797]

craxy where you can find edp 😭

[@RileySalm]

You shouldn't be giving away $400 a month when you can't even give to yourself - some Dave Ramsey video

[@morbotheturtle3796]

Dave consistently endorses giving 10% every month no matter where you are in the babysteps. He just recommends limiting it to 10% in the first 3 steps

[@peggygregory7306]

There are those of us to believe generosity is an essential part of quality living no matter how much debt we have. We believe that living on 90% and giving 10% to important causes is an essential part of life. It’s not popular in our culture, but those of us who do it understand the blessing. For me, I never felt comfortable denying giving to an important cause because I chose to overspend on myself and create debt. Once I learned that lesson, the debt disappeared faster than I expected and I benefitted from the joy that comes with generosity.

[@gloriaalex11]

This may be a dangerous question, but is it acceptable to reduce one's tithe amount while you're going through financial difficulties, such as trying to get out from under massive debt? Not saying to cut off your house of worship or charities entirely, but just to maybe give less until you're in a better position to be generous.

[@alisatjaden3906]

Yes it's acceptable to tithe less. You are Not part of the Prosperity Gospel. Whatever "Giving" comes from the heart. God knows!! 💞

[@llc0816]

Hi will this if you’re paid weekly?

[@tristianfincher4359]

American bacon. 🇺🇲

[@Sarah-mc3hw]

$500 a month for one persons groceries? My guy. Our household of 2 does $400-450/mo!

[@GeorgeKamel]

If I go lower people get angry. If I go higher people get angry. Everyone’s life is different. Good for you guys, though! Impressive!

[@juliesalinas6047]

I include my pet food and wine in my grocery budget - I usually buy it all there so it seems to work

[@Cole320]

I noticed that you calculated your tithe based on your net check amount instead of your gross check amount. Would love to hear your thoughts on why?

[@GeorgeKamel]

There’s no biblical direction on gross versus tithe. If you feel convicted to tithe from gross, go for it. “Each man should give what he has decided in his heart to give, not reluctantly or under compulsion, for God loves a cheerful giver.” It’s more about the spirit of it than the nuance.

[@Cole320]

Thanks for the response. 100% agree that it’s a heart thing. I would slightly disagree with the no biblical direction though as we’re called give of our first fruits. Just something to consider as you lead millions online. Thanks for the leading by the way.

[@GeorgeKamel]

@@Cole320 I meant the biblical direction of net versus gross. There are many interpretations of first fruits when considered from a monetary perspective. Considering first fruits was talking about literal crops.

[@NoahPinionated]

@@Cole320 We are no longer under the law thanks to Christ’s sacrifice. The only directives in the New Testament are to give with a cheerful heart. Plus if you do the total math for the tithes in the Old Testament the percentage was closer to 23% and it was also how they funded their government / nation.

[@entrepreneurlife649]

​@@GeorgeKamel lots of murky waters on old testament law 10% vs new testament Holy Spirit conviction, then net vs gross pay. Thanks for showing people how to effectively save/tithe by putting it as a top line item.

[@kurtking4662]

Bon Iver 👀👀👀

[@EricVonmoore]

My wife's budget plan: a new husband.

[@freedomring3022]

actually according to the baby steps you should eliminate the church giving to zero and put that towards the debt. 2nd, according to Dave's plan, you need to sell the vehicle to get rid of the car payment and down grade your vehicle to one with no payments. 3rd, your health insurance is normally taken right out of your check pre tax, 4th, according to the IRS website, if you make $70k per year, after taxes your pay will be 54,672 or about 4,556 per month. I know I know you are just giving an example. I am just nitpicking.

[@morbotheturtle3796]

You are nitpicking but also failed on your first comment. 10% giving is assumed in the first 3 babysteps

[@bizpo1286]

No hair care, you're in step 2. Shave it with a worn out rusty dull razor!

[@hanneman4509]

$70K is average? Fuck me dead.

[@briankowald6465]

I don’t recall the Ramsey plan giving a church $400 a month when you are in baby step 2

[@dylanb6302]

The inserted clips are too much

[@maryt7468]

The best budget advice I ever received was not to OVER specify. So I have line items in the budget called “Run The Family” and this includes everything from Home Depot runs because we need to fix a faucet to cleaning supplies and toilet paper. This was a big help to sticking to a budget for me

[@morbotheturtle3796]

Depends on the type of person you are. I would prefer a super specific budget

[@mensb1936]

Yeah it was opposite for us. The more detailed we got, the easier it was to stick to the planned spending.

[@donjohnson1416]

I too prefer a more specific budget

[@asiahenry7798]

I have that line item too. I label it household. I tend to buy my home stuff in bulk, that way month to month I only have to restock some things

[@anotherdoseyt]

this, i find that the 50/30/20 method is not too complicated and can account for all purchases as long as I be honest with myself in terms of what is a need versus a want

[@debbiedoucette9302]

You're doing an amazing job George! Please keep up the great work!

[@jamesdavis6567]

All I want to know is how does your team find all those clips to put in????? The editing is next level!!

[@maryt7468]

I had the same thought lol 😂 is it someone’s full time job looking for funny clips all day?

[@mistermaster6882]

George’s channel is HUGE for Ramsey’s connection to the younger generation. This jump cut and meme style of video is wlite for attracting a younger audience to the brand 💪🏻🙏🏻

[@chadhartsees]

Huge? It's not huge at all. People unboxing toys have bigger view counts.

[@Pstmstr]

@@chadhartsees why are you here?

[@chadhartsees]

@@Pstmstr you're not going to be invited to Ramsay's Christmas party for being a Stan on social media.

[@Pstmstr]

@@chadhartsees don't want to be. Why are you here? Simple question.

[@AbidingHopeMentalHealthCoach]

I change my sheets every week, and if I skip a week, it’s not the end of the world. But about budgets, I use the EveryDollar app, but I cannot handle seeing only a few line items at a time. I start my budget on excel, which allows me to see the whole budget, every line, on one screen. I am a detail oriented person, but I really like to see the big picture too. I’m also a bit of a nerd, can you tell?

[@Tashas_Travels]

I wish the every dollar app was available in other countries and with different currencies because Americans are not the only ones who budget, invest or watch dave Ramsey videos.

[@angelacanedit]

agreed.

[@joanebf]

Yes! Please @GeorgeKamel ask the team to create an "Every Euro" app

[@daseemore4377]

What? They are just numbers with a dollar sign. Just pretend it's a euro money sign.

[@Tashas_Travels]

@daseemore4377 not everyone is in Europe or America

[@sir-vengeance]

I would love an Australian version!

[@spencerroach8469]

My favorite part of this video is when George said that housing should only be 25% of his take-home pay, but then proceeds to budget $1200 on a $4000 monthly budget

[@debbiefried3533]

He did say "about" so there's wiggle room with the 25%.

[@joseluna5934]

Im ok with them saying 25% . Because we human dont lisent and go over. Imagine if they said 35% people will go 50% . Im under 25% on my mortgage and its amazing and the only reason why we can pay all in 5 years. At the end of the day is just a stupid house.

[@spencerroach8469]

​@@debbiefried3533I think that's fair if you buy a house, because your income will presumably increase and your mortgage (principal + interest) will not, but less fair when renting (like in George's example), since rent will go up over time

[@xaldath4265]

​@@spencerroach8469this. "about" 25% is a target, not a starting point. It's okay to grow into that 25%, but don't do it in a way that keeps you cuffed for a decade first. A couple years, tops.

[@ivanajukicgloban6627]

​​@@spencerroach8469Interest can vary dramaticly and also a principal if you have it in other curreny which can be the case for us in Europe...Some people faced mortgage go 2x higer then in the beginining.. you always have to have wiggle room...You can loose a job,have lower salery and so on.

[@ianklein3045]

George Kamel is what you get if you combine every youth pastor on earth into one composite person.

[@GeorgeKamel]

Hello fellow youth groups

[@destiniez04]

Every dollar is the only budgeting tool I like using and can stick to every month. It has helped me change my financial picture drastically in the last 3 years.

[@GeorgeKamel]

Love hearing that! Way to go!

[@Red_1976]

Wish with all budgeting apps you can start it the day you get paid.. if you get paid on the 15th and don’t get paid until the following month on the 15th that’s the one month. Reports and tallies are always in one month.

[@miriamO212]

Whoever edits these videos, thank you for the laughs!

[@Bmc2021]

Sometimes it gets annoying

[@9sunstar9]

I feel called out. I was putting clean pillowcases on as you said go change your sheets 😂

[@tammyjohnson5368]

George Kamel, you are out of control, but I can't stop watching.🤣

[@coachseant1330]

Let’s see that irregular income video!!

[@christinekeating2141]

Who has $1200 rent anymore these day. That barely exists anymore.

[@wayward03]

A studio in Detroit lol 🤣

[@119jle]

Mine is $1086 furnished. Florida

[@xPRxJeff]

George finally stopped calling himself a "networth" millionaire.. bro. You're a millionaire. Own it.

[@Doublepulse]

Glad to see you go over the every dollar app in detailed with this video. It's a simple but detailed plan. The thing I would love to add is if possible, any low cost monthly payments, try to see if you can go prepaid for a annual cost so you can free up your monthly cashflow to put towards other goals or debts. Example is paying yearly on my phone bill saved me a bit of money but also a years worth of concern.

[@ms.ashley7643]

I agree, I pay my Home Warranty, car, insurance, phone bill, and HOA bills in full to save monthly fees.

[@artemzakunts6372]

you guys are such a blessing for me. Every time I watch your videos I'm getting rid of all my stupid desires. Than you for making us wise.

[@TJWPatriot]

"I have one singular goal - to get out of debt." Proceeds to donate $400 to charity each month.

[@freedomring3022]

yep... first thing I noticed ... you are in debt you don't have the luxury to give away money

[@morbotheturtle3796]

If you aren’t willing to give when you are broke, you wont give when you have money.

[@SSSauceyBuns]

​@@morbotheturtle3796 nah... Secure your own (figurative) air mask before helping others

[@RobVI]

​@@morbotheturtle3796 true

[@anthonyjackson6696]

If you are a follower of Christ there’s no compromise. I thank him for reminding me.

[@Nahyanvr]

If you have debt, is it still smart to give 10% to the church? Or is it frowned upon to use that money to get OUT of debt and make your life better and then give that money to church if you want

[@ashleyb6258]

If one has a relationship with God, I would think one would want to obey what he says regarding tithes. Also, it’s all His money anyways.

[@dannylemmon7123]

It drives me crazy that EveryDollar doesn’t allow us to delete the Debt group.

[@dannylemmon7123]

But I’ve used it for years. Pretty good budgeting app.

[@catherinefrancis5827]

I’d love to delete that debt group as well;, however, see nothing there is encouraging❤