BBP Real Life Budget | Budget By Paycheck + Military Family

It's time for another Real Life Budget. We asked my readers to submit their REAL information. Real spending, real debt, and real savings goals.

I am taking those real life numbers and showing you how I would organize and budget that information using my Budget By Paycheck® Method.

In this video, I will be showing the real numbers from a reader, Tiffany. Currently, Tiffany receives disability income from the military and her partner is still active in the military. Tiffany is getting paid once a month and her partner is getting paid twice a month on set days.

CHAPTERS:
00:00 Introduction
01:56 The WHY & Story
04:16 Income
04:45 Fixed Expenses
06:56 Variable Expenses
10:07 The Debt Picture
11:53 Savings Goals
13:49 The Budget Calendar
14:43 Paycheck Bill Tracker (The Budget)
19:52 My Recommendations

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[aliciacorreia]

As a military wife, this is not typical. Most military families have debt (from constantly moving) and on only one income. I'd like that video

[chiknlittle]

Without sounding pretentious, I really appreciate these “higher income” scenarios. As someone that came from a very tight budget family, I’ve now found myself receiving essentially more income than I know what to do with sometimes. It’s really helpful to get some direction other than just paying off debt :)

[huynhrt]

I have a request for these videos.
1) show how you would do their budget based on their goals and requests built in. As in, their trip and other savings goals built into their budget.
2) then showing how YOU would modify the budget (including decreasing bills and variable expenses).
3) their new budget after they’ve followed your suggested budget. So in 4-5 months their debt would be gone. How would your focus their budget in that case. Including showing a breakdown of debt payments and when it gets paid off.

For me, this would definitely showcase how your budget suggestions could get them out of debt and possibly improve their financial position. It may also help show us viewers how these changes may just be a short temporary “pause on life.”

[arthrodea]

Miko - Could you do some stuff on how to protect yourself financially and legally as a woman living with a partner when you're not married? Like discuss things to consider in term of if you actually want your partner to have the same benefits/responsibilities as marriage from a financial and legal perspective and how to achieve those through alternative legal means and what to consider as to why you might not want them to have those benefits/responsibilities.

[Alrak]

I love this type of video. I will love watching one about a young adult living by herself working full time + going to college with a salary around 1600 bucks monthly

[ceciliadiaz]

I love this couple because of their dedication to their rescued fur babies! I relate completely with the pet expenses. I also spend $$$ so they can have a good life.

[Amanda-hqof]

enjoying watching the higher income scenario. we make around this but are a family of 5 living on an alaskan island so our groceries are through the roof. paying off the last of our debt and just paid my car in full last month! finding this channel has been so motivating and encouraging, i’m excited to get somewhere on our goals.

[michellemorales]

Oh my gosh! This is exactly how I used to do our budget when my Hubby was on disability for 10 years! His check would cover the mortgage and bills week 1 and my 2 checks would cover everything else. NOW, he's working fulltime again and gets paid weekly. I LOVE IT, but it was quite the adjustment from once a month stretching it out, to weekly having a surplus!!! 💙💜💙

[neny]

Ooh We are a military family and submitted mine a while back too. Excited to see this

[monacarney]

These are my favorite videos. It’s like house hunters for finances lol. A sneak peak on how people live.

[Olivia-bths]

Honestly made me emotional when you spoke about their pets. Bless this family for doing what they do and having such big hearts. Lol I could spend that household $500 budget if I went unsupervised at Costco!

[AlyFlower]

This was a great rundown, but I had to laugh when you mentioned that $11, 000 for FL sounds like a lot, but in reality if they're doing an all inclusive Disney trip or going to Miami. $11k is pretty easy to spend if you're truly going to go all out. Then the pet budget, before you mentioned their pets, I first thought oh she must have horses. As $1, 000 a month for a horse is pretty typical as well. This was really fascinating. Thanks, Miko~

[wunderwriter]

Fascinating! Thank you so much. Can’t wait for the next one, I learn something new every time.

[natalee]

If it takes less than 6 months to be debt free, they should do it. They would be able to save much more once all that debt is gone. I wish I had three pays per month, would make life much easier. 😁

[mandyschewe]

Thank you for sharing this higher income scenario. My husband and I make good money and only have one small car loan so this was nice to hear your recommendations on paying the car off and what to do with our savings. Please continue to throw in similar scenarios like this occasionally!

[finminminimalism]

Really enjoyed this video, so common sense! with the BBP approach.

[leescorner]

It seems they know what they need to do, but they don’t want to buckle down and be tight for a few months to cut their debt down.

[joytucker]

Would love to see a real-life budget with variable income.

[crystalgale]

I so can relate with the pet expenses. I don't earn a lot but i put $500 every month for my 2 rescues as well - good quality foods (both are on special diet), vet bills and pet emergency fund. 😊

[AdisCandra]

a great idea would be to go through this with the person via call so they can fill in missinh information as you go.

they can remain anonymous as well