MY MONEY MY WAY MINI-LESSON DAY 4: REALISTIC BUDGETING

To celebrate the release of my brand new National Best Selling book - My Money My Way: Taking Back Control of Your Financial Life, I am continuing a six-day Mini-Lesson event. Every day for six days, I will be sharing some financial building blocks from my new book!
Are you ready to start transforming your finances?
Today's My Money My Way Mini-Lesson is all about creating a realistic budget. We will get familiar with the four areas of your budget and talk about how incremental change can make you successful.
To get a daily mini-lesson reminder, make sure you turn on notifications and subscribe to my channel.
Let's start a new financial journey - YOUR WAY!
Day 4: My Money My Way Mini-Lesson: Realistic Budget
1. Start with what you are REALLY spending.
2. Organize using the four areas of your budget.
3. Small changes over time.
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Your Homework:
1. Download the MMMW worksheets by going to thebudgetmom.com/mymoneymyway and filling out the form.
2. Create a budget calendar.
3. How much are you really spending? Take your income and subtract your expenses. Are you in the negative or positive? I call this the “Red Light Green Light Test.”
4. Using what you found out about your spending from Day Two Mini-Lesson, start organizing it into the four areas of your budget. Use the accompanying Paycheck Budget Tracker worksheet for this step.
5. Start with small incremental changes to improve your budget over time.
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GET THE GOODIES: If you have ordered a copy of My Money My Way, you can get the accompanying worksheets to My Money My Way!
➡️GET THE MMMW WORKSHEETS: www.thebudgetmom.com/mymoneym...
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Get your free financial fulfillment score and checklist!
➡️ TAKE THE FREE FINANCIAL FULFILLMENT QUIZ: www.thebudgetmom.com/mymoneym...
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ABOUT ME
I'm the blogger behind www.thebudgetmom.com. I have a rambunctious 6-year-old son, live in Washington, and I'm passionate about helping people with money management and personal finance. Let me know what you like to learn more about! Leave me comments and suggestions on my video and let me know!
YOU CAN FIND ME AT:
📝 BLOG: www.thebudgetmom.com
📘 FACEBOOK: / thebudgetmom
📸 INSTAGRAM: / thebudgetmom
📌 PINTEREST: / thebudgetmom
GET STARTED
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➡️GET 10% OFF my popular Budget-by-Paycheck Workbook - Coupon Code TBMKZbin bit.ly/2CR7U9n

[@labratkat]

I could listen to you all day! Thank you for sharing your passion! Started this journey a year ago and have been derailed multiple times, but because of your kind words I continue to truck along. One step at a time…

[@thebudgetmom]

Yes💪💪

[@beckydivine8046]

I love the mini lessons and your real approach to budgeting. The budget by paycheck workbook has been a game changer. Thank you for actually walking us through the process and not just saying create a budget, but actually showing us how to do it.

[@ateachersplate7333]

Ouch this explains why I am trying to spend $100 on a family of 5 with 2 dogs for 2 weeks. I was not being realistic.

[@beyoutifullynatural9451]

I love your energy❤️ your videos have been making me super motivated! Budgeting is fun!

[@zblingcreations6445]

I have watched your mini series over and over I bought your book by cutting my grocery budget after taking inventory knowing I don’t need to buy anything for next month

[@alyssa0101]

I recently started following your channel. I love it. I love it because it’s about me and not you telling me this is now my budget should be. It’s about me and my budget my way. I tried the cash envelopes and found it does not work for me. What works for me is to have an expense account and separate savings accounts. I had tons of sinking funds now I have only three. Which are short term goals. The zero base budget works for me as well but not every month. I can honestly say I have managed to be settled in my budget. Keep the good work up.

[@adlablackwell2875]

Love love love you! You have such a wonderful way of passing on knowledge without shame. ❤❤❤ you make it feel possible and that there really is hope.

[@mrs.jessicarocha1241]

Yay for Day #4! 🙌❤ Thank you for making this series, I love it! Have a great day Miko!

[@thebudgetmom]

I am so glad you are enjoying the mini-lessons!

[@beyoutifullynatural9451]

I just set a budget for my fiancé! 😬 I hope he follows! Or else we’ll be engaged forever! Lol Update!: it’s me again one year later! And I have made SO MUCH MORE PROGRESS ❤ I have taken control of BOTH me and my fiancés finances and it all worked for the better! It took a minute to get him on board (he’s still confused) but I had to talk him into letting me take control! Now we’re preparing to buy a home soon! Thanks Miko ❤

[@iyamom4]

That is a real subject to discuss in a relationship. It was hard for me to be on a joint account. When it went negative I had an issue.

[@beyoutifullynatural9451]

@@iyamom4 yes it should really be talked about more! He’s terrible with money and I just refuse to put his name anywhere next to mine🤦🏽‍♀️ we have two children together and I don’t want to screw things up for them bc of him..

[@TheSimran8229]

I love listening to you, getting all excited talking about Budgeting, that really gets me motivated to go home and see my budget binder and plan for my next pay cheque. Thank You Miko. 🇨🇦🇨🇦

[@thebudgetmom]

💕💕💕

[@grisellopez9746]

Miko, first and foremost THANK YOU! I’ve been using your method for a few years and have paid off so much! I wanted to comment that I avoided the “highlighter method” at first. It is easy to say that it’s in my bank statement. Why rewrite all that? Let me tell you, it is a critical piece to this process. So, I wanted to let you know you are changing so many lives. This is not only a journey, but a lifestyle.❤️ Budgeters out there: buy tons of highlighters and start tracking.💰📝

[@aimeef.4292]

Amen!! Budgeting is about tradeoffs! You said that once in another video and it changed my life. 🤯 We are debt free except for our mortgage, but I was always worried about what to do with our extra money. What we were “supposed to do” as our next step but never felt in my heart that it was best for our family. I was just listening to Financial people and what they said, but never used my “why” to gage what our next goal should be. Thank you for all that you do!!

[@thebudgetmom]

"Using your WHY to create your goals" YES👏👏👏

[@victoriagevara8030]

Thank you so much for offering freebies for people who can’t afford them. You are a blessing! God Bless You🙂

[@Amanda-hq9of]

Can I just say, that this aspect of budgeting, that I learned from you, has actually helped me in fitness/weight loss. It’s the same kind of mindset! And I’m very excited for what these small steps and changes will do for my future! Xox

[@thebudgetmom]

I love that💕💕

[@StargazerBudgets]

Me too!! It's amazing how much they go hand in hand!

[@jenniferreid7652]

I'm so glad I discovered you a few months ago. I've been trying to create a budget the past few years, and the BBP merhod works sooooo much better for us. I love when my fiance and I get paid because I love knowing we're prioritizing debt (our goal) and seeing everything in writing is better than the apps we used. We sit down regularly and talk about our finances, goals and where we need and want to change things.

[@emiliegaumond4876]

Thank you so so much for those mini lessons. They are helping me to get back on track 💪💖

[@triciasmucker751]

I love this so much!

[@PlanSarahPlan]

I bought your audiobook and am listening to some of it every day. Congratulations and thank you for sharing your knowledge!

[@thebudgetmom]

❤❤❤

[@foxybody1]

I’ve always paid my bills according to paychecks. I found that it would work and then it would stop working and I became frustrated and just dealt with it as it went on.. ever since I started to watch your videos I realized that I was missing a key element which was to plan for my personal expenses and needs and include them in the budget. The zero balance budget has been the key to staying on top of my budget and enjoying so many things too. Thank you for all your advise and videos!! ❤

[@virginia_in_the_rearview]

I got the first copy from my local library today. Gonna spend this weekend reading and learning!! Thanks Miko!!

[@foreverbudgets]

Thank you so much for doing this!!! I had that slap in the face moment which made me get my act together. Love how you explain the wants vs needs. That was super important for me.

[@hollyramsey3576]

Thank you sooo much. This needed this lesson today. I have already heard it but it hit home

[@victoriagonzalez6304]

I watched mini lesson #1 last week, loved it, then headed to Target that day to purchase your book. I got the last one! Yay! 🤗 I’ve been reading your book and then come back to watch the corresponding videos to solidify the information in my mind. So helpful! You rock Miko and I’m very grateful to have discovered you and your method. Thanks for all you do! 🤩💜

[@chelaijohnson4711]

The budget calendar is so helpful

[@tania2918]

number 3 really hit me hard :) I have to go and watch mini-lesson number 2 eheheheh. We're a family of 4 living in Europe with 2 toddlers and me as a vegan. We buy groceries and household items in the same place so we keep them in the same category. When I started at the beginning of the year trying to "fit" my groceries bill to 100€ per person (400€ total), I couldn't, and I struggled with it, believing I'm not doing good enough. The thing is..we spend around 750€ a month normally so, it's just not realistic to try from one month to the other to decrease by 87% in my groceries bill. I'm going to redo the budget and aim for smaller, more realistic improvements. Feeling a bit better now, and motivated to keep going!!!

[@sandyseibelhager7131]

We do get to choose how much our car payment is and our house payment. You decide how much car/house to buy. I will NEVER have a car payment again. I choose to not have a car payment again. I worked very hard to get out of debt and am never going back into debt.

[@Birdmom1823]

Great video like always 💜💙💜💙💜

[@ekstn645]

I just finished reading your book and now I’m going back and watching all your videos. Thank you for all this info! It’s helping so much!

[@thebudgetbee9694]

When my father got really sick a few years ago I ended up getting sloppy on my budgeting because I barely had time to eat and sleep, not kidding. Then my mother in law got sick and I was again a night nurse and a day nurse... after they passed there was alot of other duties I found myself committed to and the icing on the cake was when my precious little dog got sick and required expensive treatments and lots of care. She bounced back but her medicines were expensive and I found myself getting up several times a night with her and began to be really tired ALOT and before I realized it we were eating fast food almost every single night. The nights I didn't eat fast food was probably because a frozen dinner was faster. Also - we have had HUGE plumbing and other home repair expenses and I have NEVER been someone to carry debt but now I find myself in debt. I am happy to have found your channel. I like your philosophy. I have always liked being on a budget because I felt it did give me freedom. Freedom to spend money on something extravagant I really wanted IF I'd saved for it. (There was no guilt when I bought my Kate Spade planner several years ago because I'd budgeted for it.) I learned from an early age how to save and how important it is to watch your money but my life and my finances have gotten WAY too complicated of late and I really needed to hear these mini-lessons. Because I've tried to always watch my budget NEVER have I found myself with so much debt before (not counting my house) so I really didn't know what to do. I'm scared to try the red light/green light test but I am ready to face my budget and tackle it. My tummy hurts a little...but that's ok! Thanks for making these videos and sharing your snazzy printouts! You are appreciated!🙂

[@darlenedombrowski]

Great video Mika!

[@AmandaGentherTV]

I want to try cash envelopes, but I need a way to split categories into cash/checking. For example, I order groceries every week and I have to pay for that through my checking account. But food is my most out of control category, so I would like to try the cash envelope system. How would you recommend I go about doing a Cash/checking combo??

[@GetFitWithMassi]

I love your videos! I've learned alot. Wondering if you'll be coming out with an excel or Google docs version of this for those of us who don't use printers and paper? Thank you :)

[@sofondadavis5028]

Check out YNAB website

[@thebudgetingboricua3205]

I just purchased your book at a local retailer and I am so happy to dive in!! Is there a way for those of us that purchased the book somewhere else other than your website to get the MMMW?? worksheets. Thanks for these videos!!

[@rebeccathistle5874]

These mini lessons are so useful.. I don't know if this is the right place to ask .. but since you've said that you use your net income ... Could you talk more about business budgeting? 🙏 Because my parents have a business.. and we are in tremendous red on our bank account ... And I'd like to help them .. but I don't have enough knowledge about it ☹️

[@l.m.schmidt5363]

🤩🤩🤩

[@ateachersplate7333]

Actually I kept my reciepts from January, groceries were almost $600 😒

[@elliottkevinmckenzie9850]

Hello Mrs Love, aka Budgeting Mom, I am from Trinidad and Tobago , and i have been recently been looking and following your videos on budgeting. and i must say that i am loving all the information and knowledge that I am gathering. How can i purchase your book and your attached worksheets , so I can start to piece my life together using this workable system ?

[@LivingwithStephh]

Hi! I got my book from audible, am I able to access these sheets ?

[@kherboth646]

How do I get the print outs if I listened to the book on audible? Thanks

[@sandraholmes4262]

Hard for me to order your products through Etsy, haven't received product I ordered in May yet

[@Nakiyo11]

When using your monthly tracker sheet from multiple bank accounts do you use the same sheet for all bank accounts or do you use a tracker sheet for each separate account?

[@LivingwithStephh]

I would say use the same sheet for all accounts but get them all into categories before putting them on the monthly tracker.

[@savvybsaving]

Hey Miko, I’m trying to determine the best way to save for a house. What is the best way to do this?

[@liz9843]

Spend less than you earn, save the difference.

[@chelseal654]

So I have anxiety and OCD, and this makes staying on top of my finances very stressful. I either avoid or fixate to the point where it’s unhealthy. Advice?

[@moniqueneely1671]

Look up ways to help your anxiety and figure out ocd triggers. Once you can find a grounding method and know what gets you, it'll be a good starting point to manage them. Once you do that for a few months, hopefully it'll be easier. If not, seek out therapy

[@shandellmccarthy1255]

I bought the book at Coles...so no confirmation number-does this mean I don't get access to the free forms??? kinda upsetting if it is for only for those who ordered online 😭

[@thebudgetmom]

Yes, you can still get access!! Email [e-mail]

[@vennitahensley4841]

Is there anything recent?

[@mikeroyce8926]

When do you start putting money into your sinking fund for Valentine's day. March or later in the year?

[@thebudgetmom]

I start saving as soon as I use it in February, so usually March

[@mikeroyce8926]

@@thebudgetmom Thanks Miko. PS The extracts of your book that I've read so far are excellent.

[@sandraholmes4262]

LouVotton😂

[@makingMyHouseaHome412]

It's my own preference, but it would be wonderful if you flipped your phone so I can read them.

[@ZiggyMoney911]

Yes, please!

[@thebudgetmom]

I was hoping that by adding them to the screen, that would help...but I will definitely look into this for the future. Thank you for the feedback!

[@makingMyHouseaHome412]

It does help adding them to the screen. But when you hold up a budget sheet and it's all backwards, I can't follow what your trying to get across.

[@sandraholmes4262]

Using the Discover to eat out and never paying it down

[@cherylthomas9572]

Just bought your audiobook now. Wen next month I’m buying your book and the course. I’m loving the mini lesson been listening to it when it started. 🇨🇦🧡

[@belerysusan6207]

My life has totally changed since I started an investment of $6,000 and now earning over $57,000.

[@DrWilliamJ]

Please how, I wouldn't want to be kicking my self in regrets knowing I missed such good investment.

[@elizabetharmstrongpalmer7902]

With the consistent $83k weekly profits I'm getting trading with Mrs CHRISTINE NORINE MARTIN there's no doubt she is the most reliable broker in the market, such a genius.

[@grahamstephancassidy8242]

How can I reach out to MRS CHRISTINE NORINE MARTIN ?

[@elizabetharmstrongpalmer7902]

@@grahamstephancassidy8242

[@elizabetharmstrongpalmer7902]

༻十𝟏𝟔𝟔𝟎𝟐𝟖𝟎𝟐𝟎𝟖𝟕༺

[@candacefife6763]

I love everything about the budget mom but people please please be careful when you go to the bank and get cash for your envelopes. With crime so high and people being robbed and some killed at atm please be aware of your surroundings and if you think you are being followed drive to a police station.

[@jodywatts2103]

I love your help, i guess thats the correct word??!! You need to know how many ppl you have helped immensly,, you have probably helped ppl from filing bankruptcy... I did that in 99,, I will NEVER do that again!!! I will try my darnedest not to any how...you sent me an email today and I will work on it this week... Ty so VM!!!