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How to Create a Budget that actually works for you #budget #savings #shorts

Navigating Your 20's Ep. 6 | Let's talk about finances some more! In this video, I discuss the best methods for budgeting, managing, and saving your money! I've had quite a bit of trial and error through the years and I'm happy to share what I have found to work best!

Money Mistakes to Avoid in Your 20's:

• 10 Money Mistakes...

0:00-2:25 viewing money & setting goals
2:26-9:27 budgeting tips
9:28-13:41 savings tips

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How to make a budget that actually works for you:
-like and subscribe to this channel for more budget tips, affordable products, and healthy living.
-Create the destination: what is your measurable goal for creating a budget in the first place? ex: vacation, having more freedom to do what you want, paying off debt - calculate the total amount for this and add this to your overall budget goal
- Be honest about your fixed expenses - write down that $2.99 in Google Storage you use, that extra nail fill, etc
-Mind over Income - understand whether you want to live in luxury or save for your future or a combination of both. Personal finance is personal, and sometimes the best time to spend money is now (ex: your kids are young and you want to take them to Disney). It is a tool to get you to where you want to go, not to be guilted by. Set your budget up so you're consciously spending on things you love, and getting rid of things you don't (this is from Rahmit Sethi's "I Will Teach you to be Rich"). Investing and paying fixed expenses should still be part of your overall budget, but the percentages are allowed to be smaller depending on what is most important to you personally.
- Pick a Budget Method that feels like you can LIVE the way you want to and tell your money who's boss. I use Rahmit Sethi's budget, which includes 15% in investments/savings, 50% in expenses, and the rest into conscious spending. I have a plan for retirement, and I am quickly paying getting enough money to pay off student loans.

What tips do you have for creating a budget?
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