The ULTIMATE GUIDE To Budgeting

[@madgebishop5409]

i wish i could have had this kind of advice when i was younger, would have helped so much!

[@quentinsf]

Nicely done - thanks! Re bad debt: the best financial advice anyone gave me, when I was young, was "Never borrow money for anything smaller than a house!" I stuck with that, to the extent of not even using credit cards, and it served me very well!

[@hemaalam5977]

Woo, season 18! Let's go! 💪

[@nullarc5]

Liked, favorited, and subscribed. There's a lot of information on finance and budgeting out there, but you've outlined the major steps and the mentality you need to approach budgeting in a way that's easy to digest and to apply. Phenomenal information/video. I'd easily consider this to be a must-watch for anyone just starting off in addressing financial health.

[@MeaningfulMoney]

Thank you! I am really glad it helped you and I will keep making more of these

[@willlsmith8063]

The Ultimate Guide......what an outstanding start to this new season..........I've had my finacial world transferred by using the advice from Pete. If you are someone like I was i'd be living from pay packet to pay packet and hoping for the best I would get to the end of the month and if I was not on budget then my flexible friend would take care of it.....till that then became a problem......the two things that were game changers for me were the double bank account and giving every pound a job......not difficult at the start but it takes a few months to see results.........like compounding that then started to impact on other aspects of my finances moving forward. Particularly in this current climate follow this guidenece and I can promise you it will transform your life..................good luck everyone starting their journey..........just be consistent!......you can do this!

[@MeaningfulMoney]

As ever, thanks Will!

[@EdmundBaileyUK]

Such good content Pete and your explanations are nice, clear and and concise!! Always a good listen. And Season 18... amazing!!

[@MeaningfulMoney]

Thanks Edmund - appreciate the encouragement!

[@julianpilkington4990]

thanks....simply put! I've half budgeted for years...all bills into a separate account etc....but always got caught out by the less regular but still predictable bills.......thank you. time for a readdress

[@PullthetriggerCoUk]

Thank you for this incredible free content! I am going to budget for the first time in 50 years tomorrow and look forward to the results over the next few years 🙏🔥🔥

[@traciesmobile683]

Even on a relatively low income (under 30k), this advice is great. I am paid weekly and to be honest it forced me to get control of my money over a decade ago. Having a separate bills account has been vital to budgeting. Budgeting was vital to not only paying off bad debt, but also saving for a deposit and buying a property nearly 4 years ago. Something I never thought would be possible. Budgeting to zero and allocating a portion of my weekly pay to both monthly and annual bills has been vital for actually freeing money and staying out of debt.

[@MeaningfulMoney]

Amazing, Tracie - what a great achievement, and all from careful application of good begetting skills - kudos!

[@Dazzy1107]

Good to see your back uncle Pete..... great video.

[@eleanormeredith3468]

Interesting set of principles pulling from his own approach, You Need A Budget, Dave Ramsey and others.

[@helixvonsmelix]

Thing that helped me the most was using switch (Debit Card) to pay for food shop each month. Shifted it back to the correct month.

[@alexanderedwards7081]

Very useful advice. Thanks for taking the time to share this valuable knowledge.

[@niqq19]

Thank you! This video was so helpful🙏🏽

[@MeaningfulMoney]

Glad it was helpful!

[@biancaguimaraes-chadwick195]

Wonderful video, as always. Interesting ideas of 'ageing our money', thanks for that!

[@helengalt9750]

For a moment I thought the fly was in my room! 😂 great video, thank you.

[@MeaningfulMoney]

Ha! It was very annoying!

[@richardmunday2608]

Any tips on budgeting if your salary changes every month? Also just under 10k subs in this vid smashed that well done!

[@notknownguy]

The two bank accounts has been amazing! Monzo has pots which has helped massively. But still ongoing with my finance journeying

[@MeaningfulMoney]

Keep going - you’ve got this!

[@notknownguy]

@@MeaningfulMoney thanks for the reply. Purchased your audiobook 😁

[@aishawf]

Thank you very much- super helpful!😊

[@MeaningfulMoney]

You're very welcome, Aisha! Thanks for being here

[@pauledwards5170]

Do you have a video where you show how to use and fill in the budget spreadsheet from your book?

[@alejandrobaezagonzalez1749]

What do you think about using a prepaid card as the day to day expenses instead of another account? Thanks for the videos 😊

[@alfredgodwin3884]

Is there a video on howe to use the budgeting excel i'm confused with the weekly review and the progress

[@tracey6258]

Great video, as always. Very thorough and flexible advice. I'm trying to get my head around the idea of 'Ageing your money'. I can see the point in terms of added security, I just cant see how this is different to having a larger life buffer emergency fund- both cash, held for security not growth. is there more than a semantic difference between this and the emergency fund?

[@MeaningfulMoney]

Hi Tracey - it isn’t really. It’s another way of thinking about financial security really. By spending last month’s income, you really get a sense of being ahead of the game rather than ‘just’ having an emergency fund. The more I work in this field, the more I understand that different methods of thinking appeal to different people. So while an emergency fund and ageing your money amount to the same thing, they may appeal to different people. Make sense?

[@tracey6258]

@@MeaningfulMoney yes, i can see the appeal of both ways of viewing things. thanks

[@davegibson3262]

Hi Pete Worth mentioning I think - although budgeting monthly bills can be harder for people paid weekly, as most bills are monthly: the bonus is that in a few months of the year of the year you will get 5 weekly payments rather than 4. If you base budget on 4 weeks per month then the occasional 5th week can provide the ‘extra’ needed for ‘ageing’/saving/etc. Correct ?

[@MeaningfulMoney]

That's a great point, Dave - well said!

[@paulmedcalf8149]

Would you advise splitting the budget with a ratio if 50/30/20. E.g Needs, Wants and Savings?

[@MartinWhiteIsAFilmNut]

Hi Pete. I just have a question about budgeting. I've been doing it ever since I started my journey to financial freedom since May this year and I do try to follow your advice of using two bank accounts (a bills and spend account). I get paid my monthly salary into my normal bank account and I transfer money into different pots on my monzo bank app, which includes bills for rent, mobile phone, groceries etc using a strict budgeting schedule on excel that I use both weekly and monthly. After all the money is transferred into the necessary monzo pots, I look at what is left in my main bank account and transfer it all over to my monzo account as my spending for the rest of the month. Would this be a good way to carry on budgeting in the future? It's not quite how you've laid it out here or in your book but it's always worked for me.

[@MeaningfulMoney]

Sorry for delay in replying, Martin - Christmas etc etc If it works for you, go with it. The idea is to keep your spending and bills money separate, and it sounds like that's exactly what you're doing, so more power to ya! Good luck!

[@drew_peabawlz]

My wife earns way less than me (about x3 less) however WE earn X combined - stronger together than apart.

[@goulldy]

[11:20] according to wikipedia, the term Sinking Fund dates back to 18th century Britain, but there's no explanation of the etymology - google is no help either! en.wikipedia.org/wiki/Sinking_fund