How To Budget For Beginners

#72 : Allison Baggerly, founder of Inspired Budget, and author of the book ‘Money Made Easy’, is dedicated to inspiring women to confidently manage their finances. This episode is great for those (singles as well as couples) who want to learn more about budgeting and how you can pay off debt. It’s completely beginner-friendly and covers:
•⁠ ⁠What a budget is
•⁠ ⁠The step-by-step plan to start budgeting
•⁠ ⁠The Budget Surprise
•⁠ ⁠How to get out of debt
And MUCH more!
Get Allison’s book ‘Money Made Easy’ here: erika.com/money-made-easy
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Erika.com: Learn more about budgeting with your partner at Erika.com/couples
Here is the link to join my course Magic Budgeting System - take control of your future and transform your money habits. erika.com/magic-budgeting-system
After knowing how to budget, it's perfect to know how to invest your money with Jeremy Schneider. Watch here: • How To Invest for Begi...
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Timestamps:
00:00 - Intro
02:41 - Allison's worst relationship with money
09:27 - Allison’s and her husband's debt when their baby was coming
12:51 - Moments where Allison felt she wanted to give up
24:29 - How to get out of debt
30:42 - What Allison wishes she had learned when she started paying her debt
35:48 - Habits around money that you should have
40:57 - Tips about money when you have kids
56:09 - Three steps to start paying your debt
58:55 - Allison Taught Me

[@Gigi.973]

Im a fellow budgeter and it never occurred to me to budget for the pay period instead of making a budget for the month. I love this protip!

[@chuckluvsmusic2much]

I've been getting paid bi-weekly for over 20 years. Pay period budgeting made more sense in my situation. Unfortunately, so many "financial experts" only speak in terms of monthly expenses and budgets.

[@huestifer]

Also for month to month variable income. Budget last month's pay period amount for the next month. That way if you have a low month or a higher month you have 30 days to respond before you need to decide how to use that amount of money.

[@fixedincome008]

RocketMoney will do this for you automatically. It will tell you if you can cover your expenses before your next paycheck. It learns from your historical transactions.

[@asmamiller]

MSN's 50-30-20 budget was the game changer for me. I also use the "save for later" button, and YES! It works. I've emptied my "save for later" a few times because it accumulated so many things I didn't even want to go through it to see what I'd saved 😅

[@misspimake4578]

I’ve used my budgeting method for 28 years. Of course, there were some ups and downs throughout the years, but ever so grateful I was able to stay home for 17 years with my kids. Now, we are debt free (besides our mortgages, which I’m hoping to pay off next year) and my husband will be able to retire at 53 years old. I will probably continue working part time and the rest of the time, we plan on traveling the world.

[@libbysworld7649]

This is by far my FAVORITE podcast!

[@maricarmenf1546]

Another great podcast Erika! Thanks for all your effort. Youre making an impact

[@tayco8]

Amazing episode! I love learning anything about finance, but there is somehting about getting down to the brass tacks that, no matter how much knowledge I accumulate, will never get old. This conversation does such a good job of exploring the nuances and human nature involved in personal finance.

[@teenafrench7236]

This podcast is looking great Erika❤

[@Investingcoachw]

Love a good budget video. We all budget even if we think we don’t. We got through decades of our adult lives somehow ( even if it wasn’t financially perfect). We just need to find what works for us.

[@nataleep]

I'm all over the place with my money and goals and it's already March

[@ogjohn3063]

I will be forever grateful to you, your channel changed my whole life and I will continue to preach on your behalf for the whole world to hear you saved me from huge financial debt . thank you ❤.

[@graceepp]

Is it the woman this KZbin Channel told us to join during the pandemic?

[@ogjohn3063]

Yes , me and my husband joined her. and things has changed since then financially .

[@graceepp]

how can I get in touch with her ?

[@ogjohn3063]

l n s t a g r a nn

[@ogjohn3063]

Caroline Seymour Trade

[@Animan_Reviews]

Great tips!

[@brianasailor9819]

Erika, please do a video on how to withdraw your investments once you get to your desired amount! You tons of videos on how to invest and challenges(which I watched and joined) but NONE of them tell/show you how to withdraw those investments. This is just as important at knowing to invest 😫

[@DanielSatterwhite]

I will fallow through

[@DanielSatterwhite]

I will plan

[@geoffmead4581]

Hi Erika, I saw a video that you did recently about how to get discount flights. Now I’m not finding it. I was wondering if you could help me??? Thank you so much!

[@DanielSatterwhite]

I'm working on my riches. I can't always spin the world. I'm so glad I found you again. I'm not sick again. I'm not average. There's just no excuses for me some days. I'm not allowed to be out of success. I'm so alive again. 24 is perfect and on. I really am happy for you. Perfectly said

[@AshaGraceBanks11_]

Hi erika ❤ what if you have alit of entrepreneurs that are watching your videos. Budgeting for self and as business owners is very different than self to salary budgeting, because of investing for your business saving etc. and its alot more time consuming and easier to back slide, can u please make a segment for business owner budgeting? ❤

[@AshaGraceBanks11_]

Also for business owners, the goal isnt always necessarily budgeting but not overspending while making money.

[@AshaGraceBanks11_]

Making *more money or maximizing profits.

[@StanHasselback]

Albert Einstein is known for saying, "Compound interest is the eighth wonder of the world. He who understands it, earns it; he who doesn't, pays it".

[@gregis2628]

Don’t be ashamed. I dream about budgeting 🎉. I wake up at 4 AM to budget 😂. It’s because I started budgeting I realized I have to start telling people no even if it means missing out on bonding time cause I AINT GOT IT and I’m tired of robbing Peter to pay Paul dammit! I’m taking back me money (in my Mr. Krabbs voice of course). Going to the dreamville festival and it’s the biggest money pit I ever got myself into. Always remember: when you budget, budget for everything down to the last crumb you’re going to be eating so you’re not stuck like chuck like me making it work 😢

[@nesstee4504]

I am sorry for intrusion on budgeting since you were an attorney maybe by chance you knew of someone or something about this.

[@Jameson-aci]

🤑

[@nesstee4504]

Hello do you know anyone on federal wrongful termination lawsuits

[@wendysmith5996]

Omgoodness can you just be over my account!!

[@hopee7386]

I don’t have a teachers salary. lol.

[@robertlittle861]

Is there any truth to Nvidia Splitting their stock like amazon did

[@tonynunez6539]

Yes. Eventually. No date set.

[@zolazk]

Congrats on paying your debt. So what you're saying is you used the Ramsey method of tackling that debt. It's ok to say it lol

[@carlosbermudez867]

I'm here for the bikini try on!

[@alfredomarher97]

Thank you so much for all your content Erika we need It :D you have my favorite finance channel My BEST 5 finance channels 1 Erika Kullberg 2 cashcraftingcrew 3 Mark tilbury 4 Nischa 5 cashpro

[@someonewhoknows1891]

Hmmm couples. Guess the sites not for me