I Stopped Budgeting After Learning This | Financial Minimalism

[@GabeBult]

Thanks to Truebill for sponsoring this video! Check out here app here truebill.com/gabe

[@altenberg-greifenstein]

Enjoy your money! Must be nice being able to look in the mirror and be proud of yourself...

[@mylifediversions8659]

Truebill app does not link to Canadian banks! So it won’t work for me!

[@SoniaJbrt]

Just have to say I HAVE TO BUDGET! I can't sleep at night if I don't keep the Budget. Income minus utilities. Then OVER BUDGET on groceries and spend 50% of what I actually Budget on groceries cause I only buy what we need. Also I keep track of what is not in the budget but is needed unexpected like a new tire or clothes for my growing son. And I try to have money left at the end of the month. I also save up for Christmas from September, a little a month and also for January cause it's a long month after Christmas with 2 Birthdays right in the middle of January. I save up for Birthdays as well. Not so much into saving money for anything else. So if there is money left and nothing to save for, we use that money for a family day trip. Memories are important, not stuff or money. Money is just a means to memories and living without debt.

[@GilliMarieMoody]

You have SCAMmers bugging me sometimes(!!!).

[@NWforager]

@@SoniaJbrt how about the far future ?

My budgeting strategy is: before buying anything, I spend a week trying to convince myself not to buy it. If I fail, it means that expense might bring value to my life. Thanks for the tips, Gabe!

[@katherinekier]

This is mine too! I put things in shopping carts and go back a few times and clean it out before I make my purchases. Usually this process is over a span of two weeks to a month, depending on the urgency and cost of the product. Keeps me from buying things for temporary satisfaction.

@@katherinekier That's an amazing technique, Katherine ☺️

[@semaekberova1264]

I would glad to see you on my channel 😊🌹

[@Y.HAJ.]

This only means you're weak more than anything (no offense we all are sometimes, by YOU I mean WE). There is a clear boundary between what you WANT and what you NEED, Budgeting is a journey and you should have a goal as a destination, otherwise the journey would just be senseless and harder

[@AllTheArtsy]

You mean you spend a week fixating on a purchase and already dosing on the dopamine release. This is not a good way to manage expenses.

[@elizabethkirsteatter5391]

I personally love budgeting. It's part of my morning routine every single morning and I love it. I think the key to budgeting is understanding that you can't predict everything, and allowing the budget to flex. The most important thing to budgeting is simply knowing what you're spending.

[@paulhanson6008]

Snap!! Budgeting (if done properly!), offers anyone (regardless of circumstances / income), the opportunity to better understand their financial position and likely disposable income.

[@kimgordon3695]

Flex tracking is #KEY

[@semaekberova1264]

I would glad to see you on my channel 😊🌹

[@trtlduv07]

Love this! So true!

[@virginiemazy7054]

What do you do every morning ? Note your expenses of the day before ?

[@PowerfulMoneyHabits]

I love budgeting. I know. I’m weird I guess. I never did a strict budget until 2020. I got on Dave Ramsey’s plan and paid off my house and everything else last year. I still use Every Dollar today. I give myself some wiggle room every month so I have freedom to buy some stuff but I’m also saving 40% of my income to invest for financial freedom. My budget assures me that my money is going exactly where I want it to go so I’m not wondering where it went.

[@lisalamphier1410]

Me too! I actually love crunching numbers. It's fun. I love knowing exactly how much I spent on what last year. I understand what Gabe is saying. Pay yourself first. Find your motivation. That makes sense. But to compare budgeting to a crash diet is a bit harsh. What if instead, you compared it to a life long dietary plan. Like you decide to stop eating processed food and you decide to stop buying anything on impulse. I too, read Dave Ramsey, paid off my house and built up substantial savings. (I also don't understand what people think is so great about Rich Dad, Poor Dad. I read that book when it came out and thought it really sucked and I'm glad I didn't follow any of THAT advise).

[@kimgordon3695]

Sweet what happened Monday?

[@semaekberova1264]

I would glad to see you on my channel 😊🌹

[@rachelcrossen8136]

I like budgeting too

[@oleanderwyvern]

Me too! My financial lets me set up as many subsaving accounts as I want, so I use it to be an automated 'envelope system' and I set certain amounts to go to each category of savings (I get real detailed, everything from "Car Repair" to my "BIL's Destination Wedding Savings" and many budgets specific to my own wedding that I'm in the process of planning) and it's allowed me to pay for nearly $11,000 out-of-pocket for my wedding from a job I only got last year. The job pays well for my area, but it's still an entry-level position with equivalent salary AND allowed me to not be anxious when I thought my car needed repairs earlier this year. ...I will say that while my MIL hasn't directly contributed to the wedding, it shouldn't be ignored that we're in a very privileged position and have been living rent-free at her house while saving. If that hadn't been the case, based on previous rents, we could have saved the same amount for the wedding...buuuut wouldn't be prepared for any unexpected expense.

[@ymottspice]

I've never said to myself " oh man, saving that money was a really stupid thing to do, I really regret it" I have regretted spending many times though. Peace of mind is worth it.

[@kateosteen5499]

Anyone who is not investing now is missing a tremendous opportunity..

[@Kewaru]

@@kateosteen5499 That's true , but most people today have been having a lot of failure most especially in Stocks and crypto trading sector because of poor orientation and bad experts

[@Anthonydaxis]

@@Kewaru To succeed in trading , you must have received and put into consideration the dynamics of your trading asests in prior to investing , analysis based on research is vital . That's why I recommend trading with a professional Expert like Jamie Goodman.

[@tylerpaul4402]

@@Anthonydaxis This isn't the first time I've heard of Jamie and his exploits in the trading world, but I have no idea how to reach him.

[@Anthonydaxis]

@@tylerpaul4402 Executive / Bitcoin Trader Mr Jamie Goodman runs a program where you don't have to undergo any stress in the trades ,He provides signals and all you need to do is invest capital and he gets a tiny bit of returns as his commission.

[@Caesar__99]

Thinking of budgeting as a diet is a perfect comparison because as a fitness person, I dont sugget dieting. Dieting is temporary. The key is a lifestyle change. Philosophically how you see food and fitness has to change. It makes sense to do the same with money. So thank you, not sure how I wasnt able to put that together before.

[@april82daisies]

Budgeting is not a restrictive diet… it’s a plan you make for your money. You’re in charge. If you make it restrictive, it will be. If you don’t, it won’t.

[@EmilyGloeggler7984]

Amen!

[@Moto.roller.]

I somewhat disagree, budgets have most folks focused on spending. Then they spend hours adjusting the budget to justify that spending. I make good decisions daily and my disposable income is going up each month, without a budget 😊

[@roksanaboldys5639]

Couple of times i tried to stick with it and i couldnt. Now i will try to understand why i overspend

[@april82daisies]

Yes!!! The second thing you said…. Understanding why you overspent!! That is the thing! Ask why. Every time you get the impulse or trigger… ask why. Do I need this or want this? Can it wait? Am I feeling down or lonely trying to feel better by buying this? Could I talk to a friend instead or something … that would be free but may fill an emptiness. Did I budget unrealistically? I may actually need more for food each payday. Asking why & adjust accordingly is huge!!! Love it.

[@RozlynM]

My budgeting spreadsheet is primarily for observation (and taxes)! I have "standard" values set aside for each category in and out, and I can enter everything in at the end of the month and see where I overestimated or underestimated. Then I decide if my original values were reasonable, and whether to change them for next month. Also, at the end of the year, I copy the monthly summary over into an annual spreadsheet, which makes taxes super easy because I already know what I earned or spent on what.

[@LillyAnnHouston]

Budgets are good people. It’s not set in stone. If it doesn’t work change it/adjust. Budgeting got us out of debt. It’s not for everyone, but if it’s for you. Keep doing you. Remember this video is sponsored and he is debt free (I believe). Life is different when your debt free. Stay focused, keep on budgeting.

[@Jupiter888-5]

💯

[@pennynickels5216]

I don't believe his numerous properties are mortgage free

[@boitumelomakobosheane2928]

I agree , don’t be mislead budgeting is an act of personal finance I speak a lot about this on my channel it should be what works for you. Always budget until you no longer need to

[@dpayne1943]

I am happy your method works for you. For me, I don’t want to look back at my spending and ask if it was worth it or aligned with my needs/wants. By that time it is too late, money gone. I budget, which only takes 5 minutes a day to maintain. My budget is as restrictive or as loose as I choose, it is very flexible. I have an expense category named “Paying Me First” and I do so religiously. The notion that a budget is inflexible or too restrictive is a misconception. It is just a plan that helps you spend your money in way that serves you best. If done with the right mindset, a person controls their budget, it does not control them.

[@semaekberova1264]

I would glad to see you on my channel 😊🌹

[@Dani-qh6ho]

I'll be using your "Paying Mr first" category. I like that.

[@jadenfoxx9159]

It's the practice of looking back that encourages a person to become self aware, which will help prevent impulse (or reward) purchases that didn't/ won't work out in the future

[@dpayne1943]

@@jadenfoxx9159 If that works for you then great (honestly). For me, looking back is just wasting time on regret. Now, I don’t want to use regret or avoidance as my motivation. I would rather let the past (cannot be changed) go and plan for the future. I do so by deciding in advance what I want to do with my money, or budgeting.

[@juliescott317]

“Freedoms is more valuable than stuff” such a powerful statement. I love traveling but never have the funds bc of the “stuff”. It’s the delayed gratification I struggle with, not having the tangible here and now. Thank you for the motivation!

[@letty5515]

You spoke my truth. Hope you turn things around and can do some things that you really want to do.

[@semaekberova1264]

I would glad to see you on my channel 😊🌹

[@aliciastaley-best7763]

I agree, but your budget is something you must reassess regularly to ensure it is still relevant. And also save first!

[@laina-brown]

I have to admit I think budgets are great. It really gives us control of our money. We have a fun money category for each grown up in our house so that we don't feel deprived.

[@Angell_Lee]

Do whatever works best for me! For me, a budget helped me clear all my debts as a previous YOLO person. Life taught me what you don't have the stats, you can`t control or improve. A budget changed my life for the best, again do what works best for you. :)

[@Billyrex500]

My approach is simple: set up automatic deductions for important payments/savings goals. Spend what is left wisely. If you want to buy something, ask yourself how many hours/days will you use that particular product or service. Also check if you could rent it, buy a used version or an alternative which is cheaper?

[@kimgordon3695]

How was Monday?

[@rhondavigil795]

Saving and planning your spending looks a lot like budget. Holding yourself accountable for your spending feels like budgeting. A budget is not 4 letter word 😉 A budget gives you control.

[@smallfootprint2961]

Control and controlling... it will kill you. Today, I'm free of all that control.

[@kimgordon3695]

A budget gives You #freedom

[@kimgordon3695]

@@smallfootprint2961 YES!

[@Peacefrogg]

@@kimgordon3695 not if you hate doing it. Saving all your receits, putting the amounts in a book or computer, memorising the amount you have left to spend on different caragories, for me feels like a time-eating, energy-draining prison. Also with a budget, when you see you have only spent half of your food budget, you might think you ‘deserve’ to spend more, when you wouldn’t have thought of it without all the rules. I have never had a budget book or program, and i have never missed it. I have always lived debt-free and stress free.

[@valspierssewsdollclothes9962]

If you know your income and track your spending so you don’t spend more than you earn then you are budgeting. My husband and I calculate what the bills take up then allocate some of what is left to each other as pocket money. If I want to spend my pocket money on 20 trips to the coffee shop I can do that without affecting our savings plan or our bill paying. We also agreed that one couldn’t judge what the other one chose to spend their pocket money on.

[@kate60]

Budget is good as a start to make you aware of your actual spending. We all waste way more than we think. Truth is set your lifestyle to a place of consistency and discipline. Then, you don't have to keep track.

[@thomaschew2191]

It took me about 4 months to get my budget to work. Now that I have it dialed in I have what i haven't had for most of my life and that is control over my money. The time and effort it took to get our budget working properly I consider the most productive thing I have ever done for myself. Now with a budget I know exactly where my money goes before it vaporizes as it did in my pre-budget days.

[@GillianBudgets20203]

..I love budgeting. It's set me free. I use sinking funds....and track my spendings weekly...The cash system works....and using my channel to keep me on track is Ace! My husband and I have been budgeting for over 20 years and will never look back

[@mishka.a]

One thing I do different - I pay myself every week (on Mondays). This helps me to save more and reflect on my weekly spending. I don't like saving what's left at the end of the month but I also found myself not enjoying budgeting. I track my expenses and when I end month with savings being 50-60% of my income, I can sleep well ans safe!

[@JourneywithKiraDee]

I personally love Budgeting. My husband and I have been doing this for years. It's helps us reach our financial and life goals. We keep the "big picture" in mind as well as the small things that make a difference. I think for the most part, Budgeting is what you make it. But you also have to know what works for you.

[@DianneSullivan]

I love reading the comments on good videos. Seems to me that the vast majority of commentators here a) value budgeting for being in control of their own spending and b) feel that the approach you've described is a form of budgeting. I guess you've shown people that budgeting doesn't have to include a spreadsheet - haven't said that I do love using one myself as my little budget comfort blanket

[@ianmonroe3226]

I feel like many young financial gurus in the KZbin world have a shrouded history. I don’t trust that the results are driven from their work and advice. I love the way you go back to what you’ve done. It’s the little slips of your history that make me trust your advice. You’re dope and I relatable. Only KZbinr I get notifications for.

[@GabeBult]

I’m definitely not a guru just some random dude he’s trying to figure stuff out

[@ianmonroe3226]

@@GabeBult Relatable! how ever you’re titled, I am glad you’re out here making videos. I’ve learned things and reaffirmed a lot about myself by watching them.

[@altenberg-greifenstein]

@@GabeBult How ashamed do you feel of yourself right now, Gabe?

[@Blernster]

And you just know he has an 11 incher

[@cheekymonkeygirl3378]

@@ianmonroe3226 Same here. His knowledge has helped become wiser.

[@AFavouredLife]

I am the same way. I used to do budgeting but I got tired so I shifted to just tracking my expenses monthly and look at it from time to time. Now, what I get from watching this is that.... I will start reviewing and asking myself each week how my spending is helping me better my life. Thank you.

[@kb1236]

AGree, I have never really Budgeted. ONly took a couple of times trying to figure out it was not for me. I just make a list of my regular bills to make sure they are paid, then decide how much I want/need to save and what ever is left is what I spend and live on. Works for me, I am now debt free, retired and comfortable.

[@kat_ie_9984]

The reason budgets don't work for most people is because they're not realistic and don't write it geared towards their lifestyle. They don't track it and wonder why they can't stick to it.

[@cookfamily6141]

Congratulations on your soon to be bundle of joy! Hope your wife’s pregnancy and delivery go smoothly.

[@ramonaearnest4709]

I like the idea of asking myself, "Did this purchase add value to my life?" Like I heard you say .. experiences over stuff!!

[@realestatesolutionby]

Yes I agree. I also use an app and focus on my goals on lowering expenses and finding ways to save money to become debt free and save for a down payment for our next home. Great content. Thank you for sharing.

[@wealthpotion]

Budgeting might not be perfect, but it’s a great way to learn about your financial situation. Even if you don’t stick to your budget, building a budget it a very valuable exercise!

[@jeanniestaller797]

I like putting things on my wish list on Amazon and waiting before purchasing right away. Most of the time I don't buy it but sometimes I get it later when I can afford it better.

[@diamondsandrubies1487]

Intellectuals solve problems, a genius avoids problems- Einstein. I usually pull everything I can learn out of your videos, one of the best. Ty

[@donnahilber8701]

you know, the list you make about what you plan to do, is immense. The list you make on what you will actually do right now is quite small. From watching and listening to your video I am thinking I will stop making the first list and just go for the second! Then, I will finally be productive. 😁

[@nicanzalone1]

Great insight Gabe! How often do we see “budget, budget, budget!”, but I completely agree that first tracking and setting goals is more important. I know everyone is different but those two have helped me a ton.

[@semaekberova1264]

I would glad to see you on my channel 😊🌹

[@tallyp.7643]

This is the approach I'm trying to take now. I have a very limited amount of money (looking for more jobs) and ever-varying paychecks. Budget systems and those who promote them seem to think everyone has 1 40-hr a week job and a baseline salary to plan around. For those of us whose monthly pay fluctuates hundreds of dollars sometimes, that's a bit harder. But honest tracking and setting goals is what I'm working on now.

[@ellenh278]

Yeah the mindset shift for me was key. I'm not a details type of person. The 'big picture' is my wheelhouse and I just shifted to the mentality of "I'm a saver and I do saver things" and then, like you eluded to, it is almost uncomfortable to spend money. So retail therapy just isn't a concept that I understand, I get the buzz from saving.

[@holeefuk413]

Me too, the feeling of having the money saved and knowing if I wanted it I could buy it is better than the actual buying said item

[@ellenh278]

@@holeefuk413 Very good point! Yes!

[@ellenh278]

@@kathleenlauren It doesn't feel like a daily struggle when you do it this way. It just becomes part of who you are.

[@TheBudgetLady133]

The only thing I regret about budgeting is not doing it much earlier in my life. The reason why most budgets fail is because people are budgeting with the intent to not spend money instead of using it as a tool to control how and when they spend. Before budgeting I had no idea of what was going on with my finances and my saving was sporadic and not intentional. I would be a millionaire by now if I was budgeting early in my life.

[@levelupindeed1406]

Or have a super strict budget and when you go over it's not a catastrophe.

[@tonyariesterer5358]

I budget and I know exactly what I owe to the penny. I'm pretty frugal because I had to be, since I raised my kuds on my own. This is the first year, I've been able to pay myself first. Everyone's mindset is different. A budget should work for you and should have some flexibility.

[@laurens7431]

"Same situation, different mindset". "Freedom (Safety, Security, Health.....) is more valuable than stuff". GENIUSSS.

[@shieh.4743]

I love budgeting. I don't use it to limit myself, but to make choices about where I want my money to go. Sure, sometimes that means not buying certain things I want, but I can see the priorities clearly. I guess I am also observing and tracking as you say, but I do set a monthly plan and then try to stay under it. When I don't or can't, I accept it and adjust for next time.

[@Fidi987]

One more thing: when I started budgeting, I SLIPPED into it. The first months, I said to myself "this is my goal and I will not reach it in the first few weeks or months, but I will get closer to it every week". That worked fine. Before, I had actually days where I withdrew 50€ from my bank account, went home and had only 20€ left and wondered how I had spent the 30 € on the way and for what.

[@anniemilakovic7683]

Pay yourself first is a type of budget. You decide how much is going to various savings goals first (retirement, HSA, etc), and then the rest is what you live on and can spend however you need/want to.

[@LLhypno]

End of 2020 i started writing down what i purchased. 3 months later i reviewed the purchase. I have a column 'would i buy it again.' I write what is good or bad about the purchase. I also have a total at the top. Gosh did i really spend that on clothes? Wow if i buy more makeup that will be a silly amount for the year. Now i never buy make up on line. I also have a column for savings. Also found i spend a lot on postage. I only look when i am in a good mood with extra time. Reviewing purchases after a few months also shows how frequently i was buying clothes and that they didnt add any value. Listing my make up let me know i already had what i might be tempted to buy. Same with clothes. Looking back and summarising is so beneficial it allows me to make better decisions in the future.

[@mistydavis4746]

I totally agree with you about reflecting!!

[@JosephDickson]

Reducing recurring expenses. Internet plan, phone plan, auto insurance, and subscriptions can't be understated. A household can save a couple thousand a year being picky where recurring expenses on wants go.

[@camillecali2]

I have been on a no budget most of my life. I am way better at it now because now I added spend as little as possible. So basically I am always repurposing, reusing and figuring out ways to meet my needs without spending.My current goal is to deal with my medical issues and save for retirement.

[@juliannacalifornia]

I've started paying cash for absolutely everything possible. You definitely feel it more when you have to hand over cash

[@Moto.roller.]

Wow thanks man! You made me realise budgeting is justifying ones ongoing spending!! 😊 I’ve just stopped spending, 6 weeks so far it’s becoming a habit to live lean 👌

[@vickiewilkins1579]

I just learned I was doing reverse budgeting. Meaning I was setting my goals and funding them, then paying your living expenses this way, you are the path to achieving something you want or need.

[@jeffweaver955]

The positive i realize is I have a lot of negative. And i save so much sometimes we dont even have food in the house. Thanks this actually really helps. Keep up the great work

[@Cyantica]

Honestly this Video helped me out alot, I was looking to buy an Apartement via Credit since I tought "ok now it's time to buy it, because they will get only more expensive" But looking on my life onwards, the next 30years, I would have had to pay down my Credit, never really having a safety money cushion for example if something ever happens (like a broken car, or just wishing for a vacation). So I was very unsure (I do have tomorrow a Bank Appointment). And your sentence : "Freedom is more worth than Stuff" just opened my eyes right now. I almoust did a very bad decision, thank you so much! I feel so relieved rn

[@Kuhreenuh13]

Budgeting has worked for me, but it is also very much a mindset thing. I’ve had to stop impulsive buying and going to stores when I’m “bored” so I don’t tempt myself. But I also have a reasonable budget that I can still spend money on things that make me happy, but keeps me in check to not go overboard. Also, I wouldn’t say I’m a minimalist but I have been trying to own less stuff and get rid of stuff that serves no purpose. While also being mindful to only buy things with purpose. Love your videos and hearing your input!

[@isabellaross1472]

My budget is strategy is very similar to this. It is a very loose guide/ strategy that I pay all my bills at the beginning of the month, save a determined amount, and then spend as little as possible and splurge only when I really want to. But the beauty is all the important things are taken care of already so I have the freedom to do so, without feeling restricted by a very specific budget.

[@LegionOfWeirdos]

I'm glad to hear someone else describe my experiences with budgeting while NOT performing a comedy routine or speaking in a support group!

[@lubutoandreas5363]

Nah bro. Happy this works for you, but it's because you have actual disposable income and can use that to save. The budget was a life saver for me because I had exactly enough and nothing more to get through the month and nothing extra. So building a budget that let me see and track exactly what I could use per day through the month and how much I should have left on the account (which I can see in real time though the mobile bank app) to get me through to the next pay day was an incredible stress relief because it took the guess work out of having to say yes or no to my kids request for this and that and worry about if we could afford it or not. I don't know if you have kids but when there are several moving pieces and you not only have to think about yourself and your own happiness a budget is a must. And once you built it, it's just there and work for you every day. THEN once the stress was gone I could start using brain energy to actually better the situation, and I have. Sorry but this just comes off as yet another yappy young white influencer thinking they have found a way out of "difficult life y'all". :-)

[@mindsetmatters5650]

Gotta say budget is good to a point, been there. But if you can broaden your thinking with a mindset that looks at things differently the savings is what gets you out of crisis situations

[@timothyking5060]

After my divorce I had to figure out how to manage with a single income. My budget turned into a habit. It greatly gave me financial empowerment. I now have my house completely paid off after refinancing to pay out equity to her

[@KarijnsWatercolors]

I track my spending and definitely try to curb the instinct of purchasing stuff just for the pleasure of it but I wouldn't say I have a budget. Living frugally and not overspending for junk means that I always have money for the essentials (bills, rent, food, car and retirement) plus extra, so when I need to spend for something else, I'll usually have the money for it without needing to restrain myself overly.

[@amysho2192]

This is awesome. I think this mindset and method is what's going to help me, as my budget is on point, yet I always blow it. 😆 This makes so much sense! Just like dieting and counting calories doesn't work for losing weight (not long-term anyhow) but just changing WHY you eat a healthy way...because if how it improves your life. I like that you suggested really looking at yourself and asking WHY. Hard thing to do, but definitely worth it.

[@GabeBult]

Having a why is so important

[@davidchester429]

I have mine all set up. I have separate bank accounts. Bit of a faff to set up but I transfer automatically to a few different accounts. I have one specific account for walk around money and I just spend it freely without guilt. It's good for things like Christmas too

[@tcslife4794]

Budgeting has always helped me to answer the same questions you ask yourself, even though I'venever thought of it that way until I watched this video. Your way of financial management is a good alternative for those who need that style. Find something that works for you and keep tweeking it so it works through every chapter of your life.

[@IAMKUTEY]

I'm currently Saving money to move, but I cut $200 this month for a course to start my online business from home, it's going pretty well this is my second week within I already made $25 with my first order I'm gonna be on budget till I finish it, this is the best course I've ever had I had multiple courses before it never helped me Now your video is making it clear to me that I'm doing the right thing investing my time to turn the negative as a motivation

[@thethriftyfawn]

This is so relatable! I used to work a job that I hated, but no longer do. For many years I've lived in a house that I hated, and I still do... but motivates me towards being somewhere better in the future 😊

[@thethriftyfawn]

@@faithfulgrl You're very welcome White Bird!👍

[@camillak8934]

"put away saving first" is the most original financial advice I've heard in my life lmao

[@faithfulgrl]

You say your a guy "figuring stuff out". Those are the words of an intelligent yet humble man. Your not here "selling secrets" or signing people up for your "free seminar". Your saying "This worked or didn't work for me." You lead by example. For that, I'm grateful

[@lesalgado1]

summary -- he's recommending make a projection sheet, realize how fucked you are if you don't save, then the inevitable --> make the budget

[@DavOlek_ua]

Doing the same with observing and trying to make less decisions. Also I have a habit for the purchase (got from somewhere i don't remember already) "if i do really want to buy smth and the thing does not have immediate necessity - I create myself a reminder to reevaluate this decision in a month", and after a month I usually prolong this for few more and only IF after 3-5 months I still want it - I just buy it. More things does not usually means more fun, mostly it's just more useless crap that piles everywhere. 38y, have no problems with debt, have wife and 5y old son, build a house for us, have cars, motorcycle other fun staff, just bought ipad mini 6 yesterday)

[@marym9585]

The importance of having a budget is in its creation. To know how much you make and what your bottom line expenses are. It has always been a great tool for tracking. You do not need to do it electronically . I like to write mine. Writing is neurologically integrative. I am old school. Do not stress ....worry is wasted energy .

[@rebeccareyna4137]

I actually don’t have a set budget but I track every single penny. I keep all my spending in my notes on my iPhone then I log it into categories twice a month. The 16th and the last day…so I track it by first half second half…Just being AWARE of where ur money is going is Crucial. If I notice I’m spending too much o fast food-I try to cook more etc… :) hope this helps

[@djt20]

I have a budget. Each month, money automatically moves into different 'buckets' to spend on (food, fun, clothes, saving for a new car etc). Then, whenever I spend, I reduce the amount in that bucket. I don't even really think about it any more, it runs completely by itself.

[@rainnnnn28]

is this the barefoot method

[@djt20]

Dave Ramsay

[@QuizKid]

I usually forget all the KZbinrs that I stumble upon - even the good ones. But not you, Gabe! Just found your channel last week and I LOVE your content! 😍

[@PhilipStratton]

A budget is simply a plan for your money. The term gets a bad rap because people associate it with a specific format and specific restrictive properties. But a budget (spend plan, funds allocation, money envelope, etc.) can be formally defined with detailed tracking (as I prefer to do) or much less formal with broad categories and prioritized spending to ensure what matters most gets funded. If you give thought to both your current needs and future goals, reflect and consider how your spending impacts your ability to meet them, and adjust your future spending to align with what you require and value ... you're budgeting. Embrace it and be in driver's seat of your life.

[@Builtby_dgraft]

Budgeting does work, but you have to have the self control to be able to budget. Your problem is that you cant control your spending.

[@matemahe]

Budget mom teaches us to Budget for everything including car trouble, vacation & everything plus have saving have a goal

[@JosiahSchneider]

Fact: It's literally impossible to over-invest in Baby Yoda things. You can't have enough.

[@MuscleBandit]

You'll make an amazing Dad, people who can inspire make the best parents and grandparents 😎

[@stop08it]

the stretches of months when i went without a budget were disastrous from my finances, literally still dealing with the effects years later

[@AEvans36963]

Budgeting works for some, not for others. Some have the discipline to work a budget, others don't. Everyone's financial situation is not the same. People have different goals and motivation. I don't actually have a working budget right now. I just keep up with when my bills are due, know when I get paid, pay my bills, and keep my discretionary spending minimal. It works for me, probably not so for others and that's ok. People have to do what works for them.

[@jenroxx741]

Yes Yes.....Freedom is more important than stuff. That is one golden statement. Thank you Thank you

[@ChaiTogether]

We support you Gabe! 🙌🏽☕️✨

[@readJames48]

WRONG!....budgeting, fasting and the 7 baby steps have set me FREE physically and financially!!! Romans 13:8 PS..ease up on the modeling pics of yourself..yeah you're good looking...we get it!...lol

[@timetogetsporty]

I also track my expenses with a program like true bill.it helps me to see what i spend money on but for me the budgetting part is the best.i can see everyday if im aliiggned to my budget and future plan

[@xxbobdeexx]

Budgeting is the guardrail’s that keep me on the road to financial freedom ✌🏼🇺🇸

[@GabeBult]

That’s great! It works for most people

[@susanchristensen5683]

I agree with The Habit Master. I love Everydollar. I idon'thave to do it perfectly to let me know where I am overspending and how I am doing at the end of each month.

[@MonethSato]

i love budgeting ☺️i write everything i buy 😅i love doing it.

[@nonyelumdivinefavourobi9804]

Me too 😂

[@DocPortland]

For me a financial plan works great. However, I love that Gabe said he saves first… this is a must. This is an outstanding strategy. Great vid.

[@athirdeyejournal]

I think it's a good thing I misunderstood what budgeting means 😅 As a science student, all it was, was data...to be analysed to answer my questions. That's it. I was always objective about it while typing it, while analysing. Typing it down jogs my long term memory so I already know when I buy what. Same with calorie tracking. The minute I get emotional, I catch myself in the act. It's data, it's trends, it's information. It's not judging me, it's laying out the truth. The judgement is happening from me so that I can control.

[@seand99x]

Plan a baby yoda thing in the budget! A budget is just an outline of how you want to spend your weekly, bi weekly, or monthly income!

[@stevekerp1]

Fairly basic - what was always called "spending control." Recognize and stop impulse buying, The financial ship does not crash because of lack of income, but because of uncontrolled spending.

[@iamkarmenvolmink]

I do high level budgets. And track it weekly. Not to minor details. Just to ensure money came in and what I spent is inline with my plan. It's necessary because I mAKe money daily 😌 Plan to succeed

[@IAmSimplyBill]

The “Im not high guys” caught my attention HAHAHAHA

[@SusanDelRey]

It’s refreshing to see that there’s still some people who don’t budget. I tried budgeting, and that doesn’t work for me because 1. I strictly use debit 2. out-of-control, unexpected expenses. Instead, I divided my money into 4-5 big parts, and that’s the limit for each week. I know that sounds kind of like budgeting, but I still am free to choose whether I would use that money on necessities or something silly that I will regret later 😂

[@anniemilakovic7683]

That is absolutely a budget! Lol it’s a budget setup that works for you

[@dianaverano7878]

I have a monthly budget to help me out in planning. Money that comes in. Money that comes out. How much is for emergency funds? For investments? Paying debts? Capital money for my side business? But in the past, i did not have a budget and was suffering on my first job that was hell. I was spending so much more. I was overeating just to make myself happy. I gained weight too. I changed jobs. My stress level dropped. Dropped 19 lbs.Thus Reflecting my spending habits. No need to " reward" myself. Changed my lifestyle. From Taxi commute. Now walking. I invest on stocks + save. Despite the fact my salary is lower.

[@aubreytoms6823]

One thing I do to keep finances super simple is only spend money on what I need, love, and enjoy. By emphasizing the areas of life I do enjoy spending on, it allows dialing down on less important things and allocating resources to what would be more worthwhile, instead. As for a budget, I create an estimate plus a buffer on a certain category, so spending or saving doesn’t feel restrictive. Anything left over at the end of the month in those categories then goes into savings. :)

[@margaretImhappy]

Thank you so much!! This is great- it’s always mindset 🙌🏽

[@PinkieJoJo]

I budgeted to learn where my money goes and to get the it if some original poor spending habits. I did the envelope system for a good 6 months. But after while it really just became a hassle. Now I simply pull up my bank account before I shop and mentally think about how much I have and if I really want to drop that balance in there. My goal is to start each month a little higher than I was at the start of the previous month. If I’m not I know to tidy things up a bit.

[@jeffsnow7749]

I've never had a budget. I've always been deliberate about spending money.

[@ZeroBOY-nj2uv]

Op bro keep it up 👍

[@samsmusichub]

If you have the mindset then making a budget and sticking to it can be really helpful. I started tracking every cent in 2010 and thought I definitely have not met all my goals, I have met a lot of goals and learned about myself, learned the power of MS Excel and math, and become more disciplined each year. Budgeting is not for everyone and that doesn't make anyone better or worse than anyone else (I'm not saying this channel is saying it does, I'm just clarifying my point).

[@computertechhelper]

I 100% agree with you regarding the mindset, I technically have the financial savvy but I'm practice it's poor I'm looking to do a no spend month just to rewire my brain towards money

[@vojtablbosti747]

I think there is still a lot of value to do tracking and budgeting from time to time. Like an audit, a check up. You can make an informed adjustments to how you are spending, tame things that got out of control etc. The same goes for a diet. Constant tracking is probably not possible for most, but getting at least sometimes objective view on what is happening and really going into your body.

[@jonnyreh001]

Freedom is million times more valuable then stuff. Amen brother.

[@sustainablelife1st]

This is music to my itchy budget-hating ears. thanks for the insights.