Budgeting 101 (for people who can't stick to a budget!)

Believe me when I say that I completely understand NOT being able to stick to a budget. I tried for years before I finally managed to develop the habit and find a system that worked for me.

Some of my biggest hold-ups included:
- not being able to remember to record what I spent
- having terrible self-control
- wanting to spend more than I earned
- constantly forgetting to stick to it!

In this video, I'm sharing with you two things: 1) a step-by-step "how to budget" plan, and also 2) my top tips for actually sticking to your budget. Hope you enjoy!

Let me know where you are with budgeting and especially if you have any tips to share!

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// LINKS

[gillianzperkins]

Do you budget? If YES, comment and share your best tips! If NO, then I'm curious what's your biggest struggle with budgeting. :)
Thanks for watching!

[jehmusic]

You made a video based on a request I made! Thank you!!!! You're very attentive to your audience. I think the most helpful tip for me was to make my budget around what I currently spend $ on, not what I try to force/limit myself to. A video on family and/or business budgeting is a great idea

[darlinhernandez]

Excellent video. Thank you Gillian. Some tips I will be implementing going forward!

[jessicawilcox]

I have been trouble budgeting for the past couple years because my life was going through so many transitions and things were shifting so fast and I was constantly adjusting... Now things have settled down and your video is perfect for right now for me!

[wandiehazan]

Thanks! This was good. I go back and forth with budgeting. I'm about to begin again.
Also, I'd definitely want to see your Business Budgeting

[lisamedeiros]

Writing everything down for a month to really see were money is going helped me.Then made a Detail budget to follow. Dave Ramsey class really helped. Its amazing how fast money goes and it adds it to minus so fast ! I find budgeting higher for food and mis. It helps to not over spend and put the money some were else. Good tips you shared, thanks. There is always more learn

[katie]

Thanks so much for this video, Gillian! I'm a total budget nerd and loved how you explained the step-by-step components of a successful budget. :) I'm also a digital Business Finance Coach with a focus on money management, so seeing all the interest in business budgeting in the comments makes me so nerd-happy! Haha!

My best budgeting tips for people who struggle with budgeting:
- Don't view it as a restriction. Budgeting gives you PERMISSION to spend and save! It's a freedom tool!
- Your budget doesn't have to be set in stone once you create it at the beginning of the month. If you have variable income and your paycheck doesn't quite match your estimate, just readjust! The point of budgeting isn't about guessing what your month is going to look like. It's about creating a visual plan for how every dollar you bring in is going to be put to use.
- Go digital! Paper people, you can plan out your savings goals or income goals on paper if you'd like. But, at the end of the day, finding an app that'll track your transactions FOR you will save you a ton of time and make it a lot easier to keep up with the tracking side of budgeting! (Popular options are EveryDollar, YNAB, and Mint)
- If you have a tendency to go over budget in some categories, try cashing it out! Keep the cash for that category in a labeled envelope. It'll force you to get a lot more creative about not spending more than what you have in that envelope.
- FOR BUSINESS: Your first task should be a separate bank account for your business! This will make things SO much easier to organize. Then you can sort out the bookkeeping and budgeting process from there.

Hope these tips are helpful for new budgeters and business owners alike! <3

[rendezvouswithben]

Wonderful video. Thanks Gillian. Happy Thanksgiving!

[DansonforJoy]

Loved this, because I'm the "before" version of your budgeting self. ;) My husband and I set budgets, but I forget to record my spending, and I almost always go over the budget for groceries and household goods, despite my intentions to stay within the budget. This video was helpful, and I'd love to see more about budgeting in your personal life. :)

[linzieg]

I'd love to see both types of budgeting videos!

[natashacampos]

Thank you Gillian for always your helpful tips! :)

[JennCampbell]

This is a great video!!! Thank you so much for this help!!!

[emilysantos]

I want to see more videos about personal and business budgets. Thanks for the great content!

[EtherealTempest]

More budget videos please :) Business, & everyday expenses. I'd also love videos on savings & investments. Thank you!

[creepyteapodcast]

For me budgeting is hard because I overspend too much... I'm working hard to get my channel going to have it as an additional income as well but I want to get better at budgeting so I can stop getting anxious about my next paycheck. AMAZING VIDEO! thank you so much for you content! <3

[horasan]

I wish I knew all this 20-30 years ago 🤔😪🙄but never late to learn, thank you ❤️🦃🦃

[angeldelgado]

Such a helpful video. Practical and something I can do now.

[Raetalkss]

Thanks for this. At work today I was just shocked how much money people waste :( I think budgeting should be taught in school and workplaces!

[lukas.guide]

Very important topic Gillian touched, it is one of they key things to be rich !
I have budget. I do 50/30/20 rule of proportion for my income. 50% I spent on MUST buy things like telephone bill, transportation tickets, groceries and etc. 30% on clothes or services or even entertainment. 20% on savings. First thing I do when I get my income, I sent 20% of my income to another bank account to save, now I'm waiting until there will be enough money to invest in ETF or smth like that.
And tip for those who are struggling to keep on budgeting is to always care with yourself a photo or picture of your financial goals. Financial goal must inspire you to keep budgeting.
P.s. sorry for my grammar and spelling mistakes, English isn't my native language.

[danielapopalive]

Personal and business budgeting tips would be great actually! But also, could you do a video on apps that track your spending? Or at least include them in some other video at some point. Thank you Gillian!! :))