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Where to Cut Your Budget During an Economic Downturn
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When building your budget, do you have a line designated for “economic downturn” or “high inflation?” Probably not. Many financial freaks like Carl and Mindy Jensen don’t prepare for economic anomalies like rampant inflation or double-digit stock market losses. And like most Americans, they’re finding it hard to not spend more money every month.
Carl and Mindy understand this, but can't seem to rein in their rebellious budget. This month was their most expensive month ever. And even though these expenses were planned, they nonetheless stung when reviewing them later. But even without these accounted expenses, Carl and Mindy have noticed the cost of goods going up while their stock portfolio continues to drop.
If you’re worried about high inflation, rising home prices, food prices, and everything in between, this is a great time to make the needed adjustments to your budget. This will save you not only a bunch of time but also stress when seeing shockingly high prices for everyday things.
Even financially free couples like Carl and Mindy need to reassess, and you may want to as well!
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Join the BiggerPockets Money Facebook Group:
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Grab Tickets to BPCon 2022:
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Follow Along with Mindy’s Budgeting and Expense Tracking:
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Find Your Dream Job at BiggerPockets:
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Reduce Your Monthly Food Spending with Budget Bytes:
~~~~
Want to Be a Guest on the BiggerPockets Money Show? Apply Here:
~~~~
Hear More from Carl:
~~~~
Connect with Carl and Mindy on BiggerPockets:
Episode 316
00:00 Intro
02:05 Terribly High Travel Expenses
12:02 Categories You Can Cut During a Downturn
19:06 Overspending Elsewhere
23:34 Financial Goals for The Rest of 2022
29:07 Inflation, Market Downturns, and More
#biggerpockets #biggerpocketsmoneypodcast #ep316
Carl and Mindy understand this, but can't seem to rein in their rebellious budget. This month was their most expensive month ever. And even though these expenses were planned, they nonetheless stung when reviewing them later. But even without these accounted expenses, Carl and Mindy have noticed the cost of goods going up while their stock portfolio continues to drop.
If you’re worried about high inflation, rising home prices, food prices, and everything in between, this is a great time to make the needed adjustments to your budget. This will save you not only a bunch of time but also stress when seeing shockingly high prices for everyday things.
Even financially free couples like Carl and Mindy need to reassess, and you may want to as well!
~~~~
Join the BiggerPockets Money Facebook Group:
~~~~
Grab Tickets to BPCon 2022:
~~~~
Follow Along with Mindy’s Budgeting and Expense Tracking:
~~~~
Find Your Dream Job at BiggerPockets:
~~~~
Reduce Your Monthly Food Spending with Budget Bytes:
~~~~
Want to Be a Guest on the BiggerPockets Money Show? Apply Here:
~~~~
Hear More from Carl:
~~~~
Connect with Carl and Mindy on BiggerPockets:
Episode 316
00:00 Intro
02:05 Terribly High Travel Expenses
12:02 Categories You Can Cut During a Downturn
19:06 Overspending Elsewhere
23:34 Financial Goals for The Rest of 2022
29:07 Inflation, Market Downturns, and More
#biggerpockets #biggerpocketsmoneypodcast #ep316
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