The Budget Mom's 9 Steps to Financial Freedom

In a world that is constantly telling you who you should be, it can be difficult to stay true to who are and forge your own path.

Throughout my financial journey, I grew older, developed my own ideas, learned hard lessons from failures, and discovered more about myself than I ever thought I would. Completing the steps to financial freedom is easy – the path to self-awareness isn’t.

Nothing is more important than discovering who you are, what you truly want, and having the confidence to make the decisions necessary to get you to where you want to go in life. The steps to Financial freedom aren’t black and white. There isn’t a cookie-cutter formula for everyone. Why? Because everyone is different. Our lives are all unique. My steps are an outline for you to follow, but how you complete them is up to you.

Some say that leaves too many unanswered questions, but it’s those hard questions that I want you to answer for yourself. No matter what someone is telling, or what advice you are following, you will never FEEL successful with your money if you don’t believe in the work you are doing. You can’t blindly follow what someone is telling you. It’s up to you to do the hard work, to listen to your heart, and know in your gut you are making the right decision for you and your family.

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[Raymondjohn]

I don’t know how but you’ve managed to package an unbiased analysis that is more entertaining than the sensationalized segment of economic and financial news. Thank you for your efforts to be the signal and not the noise. I understand that the economy is currently in a downturn and that we must wait for things to get better.

[lydiah]

I love this - it's only February and I was able to completely fund 3 of my 9 sinking funds! New (used) phone, new (used) mower & new tires paid all IN CASH on the spot! Zero dollars on credit cards. Man, it feels good!

[jadiecakes]

1 - Establish you WHY. What motivates you?
2 - Prioritize your financial goals. short, medium and long term.
3 - Bring awareness into your life (track your spending)
4 - Create a budget calendar
5 - Create/establish/tweak your budget
6 - Cash envelope
7 - Debt attack plan (there is no one right way)
8 - Maximize retirement
9 - Long term goal focus

I love these steps. I have a lot of problems with dave ramsey sometimes (i.e. how he is so fixated on snowball and the whole rice and beans thing) and this is so much more realistic and i think speaks to a lot of people. thanks for the amazing video miko! Also I like how its more generic, so for me (as a non american) i can see how it fits into how our system works etc (college is not something we need to save for, for instance, nor is health care).

[yajairapagantorres]

Just what I needed, STOP LOOKING AT OTHER PEOPLE'S NUMBER, focus on MY numbers to get to my goals 😎✌

[hmbrw]

You are the first person that made me excited about tackling my seemingly impossible debt without making me feel bad or ashamed about it. I also really appreciate how I can tackle debt and still put a little away for other goals. Thanks Miko!

[micheleann]

I think your budget by paycheck is the best budgeting system out there. Nothing makes you understand you financial situation more than writing all of it down and adding it all up manually. Sometimes it just doesn't add up the same on budgeting apps or spreadsheets.

[livhammy]

I’ve watched this video multiple times! I paid off my credit card today! Next is my car, and then my student loans!💜

[TallyWeinbergSpaceFluff]

I get paid daily through my business, im I’m sales so it’s sometimes fast money. Money went as soon as it came in! I buckled down with your worksheets and binge watched your videos for the entirety of July, and I’m on track to move into a new beautiful apartment in September! Thank you

[CurlMeSilly]

Because you're missing one nail I feel like you're an actual human and not a robot. Gurl you paid cash for a whole house! 😊

[Fannie]

I’m new to budgeting. As a single mom i want the best for my daughter. She looks up to me. We are learning together. She is is 13 and we are both learning the budget method . I can’t wait to get the workbook.

[komimarcatsou]

Why is this video not getting one billion views?
This woman always impresses me. I can notice in her voice that she really knows what she is talking about.

[localone]

I totally agree with you on still having a life and making memories. Paying off debt is important but nothing is more important than family. Your kids are only young once and you never get that time back. This is one area I disagree with Dave Ramsey on. Taking some money for a cheap vacation and extending my payoff a few months to make lasting memories with my children is well worth it. Especially if paying off debt is gonna take a few years.

[elizabethflake]

You got to step 7 at about 26 minutes in and I was thinking 'Stop yelling at me Miko!' Lol. But seriously being very passionate about wanting the debt GONE, and remembering my why, is super important to stay on track!

[FeedingMyThree]

When the footage of you and your son showed up while you talking about Step 1, I immediately started to tear up 💕 I have a two year old daughter and am currently 6 months pregnant with my second daughter. I desperately want my husband and I to pay off his nursing school loans and our credit card debt so we can start saving for our down payment for a bigger home. I want my daughters to watch mommy and daddy manage money well, pay for everything with cash, save up for their college so they don’t have to struggle, all while having lasting memories as a family and raising them to be good humans 💕 Thank you for sharing your story and method, Miko!

[zoramk]

The Budget Mom budgeting method is just THE BEST . I have learnt so much just watching your videos Miko . Thank you so much

[womanistscholar]

This was an excellent way for me to spend 30 minutes today. Sitting down right this second to write out my goals. That debt won't know what hit it! Thanks for the inspiration today, Miko. I needed it!

[gardenguru]

My "WHY" is two-fold. 1. I need some house repairs. 2. I really need to be debt free going into retirement. I only have 6 years left to make ALL of this happen. If I don't start now, I probably never will. I wish I had you in my life 20 years ago. Keep up with the awesome videos. I will be using some of them to teach my students about budgeting in the next two months. They need to start saving in order to move out and live on their own. I feel so strongly that they need to learn the budgeting skills.

[georgerobinson]

When the market goes down then it's buying opportunity. If the market goes up then you are making money. If you stay invested and ignore the market's ups and downs, you'll make a lot of money in the long run; however, a severe market correction causes a lot of margin calls and sell-offs, driving the market even lower. currently, I'm up 13% in my diversified portfolio. As crazy as it sounds some still make enormous returns from this seemingly unknown market. gotta be greedy when others are fearful

[molonate]

You are the first person I have watched or have agreed with the way the material is being presented to me. For my bullet journal this year I truly decided to fill it out with things that matter to me and not what I have seen on the internet or how a bullet journal should be made. This year my goal is to pay my debts down. I found your channel by accident and you resonate with me so much, I am looking forward to going through your steps when I make my financial trackers this year. Thank you for being real with your content!

[ashleythetherapist]

I love this! Your budget and debt payoff needs to be customized to you. I take advice from Dave Ramsey however he does not dictate my life. You still have to live and enjoy life while paying off debt.