Tag Archives: debt

MID-MONTH BUDGET CHECK-IN | ZERO BASED BUDGET (Dave Ramsey Style)

**MID-MONTH BUDGET CHECK-IN | ZERO BASED BUDGET (Dave Ramsey Style)**



Views:1944

Rating:4.96

View Time:12:31Minutes

Likes:119

Dislikes:1

I am a student of Dave Ramsey’s Financial Peace Univerity and on a journey to become debt free. By budgeting monthly and tracking my expenses I’m learning how to become debt free and live life by cash. Budgeting for beginners is mostly what you’ll find in this video so please watch and sign up to budget with me and complete a zero-based budget with me next month.

SIGN UP for Dave Ramsey’s Financial Peace University:

DOWNLOAD my reflection questions, forms, and budget with me next month. Sign Up HERE:

If you have any questions or requests please leave them in the comment section. I hope you all enjoyed this talk through budget report card. Please Subscribe and Like!!

————————————————————————-
WATCH MY FINANCIAL PEACE JOURNEY FROM THE BEGINNING

My Debt Story: How I Fell Back into $208,453.27 Debt Part 1

My Money Story: How I Fell Back into $208,453.27 Debt Part 2

First Budget on My Debt Free Journey

————————————————————————–

Disclaimer: Honesty is awesome, so I share numbers and dollars in this post. I trust you’ll honor my honesty. Just so we’re clear, everything written here is based on my personal experiences + opinions. Not everything I say here will work for you, but I have faith that you’ll take the information presented and apply some of it to your own finances in a new and creative way.
my channel my name is Stacy flowers and I am a student of Dave's Ramsey's Financial Peace University in on a journeys have become a hundred percent debt-free my starting debt is two hundred and eight thousand four hundred and fifty three dollars and twenty seven cents I currently work part time earning anywhere between eight hundred and one thousand dollars and I am on baby step number one to save five hundred dollars in today's video I'm going to be going over a detailed a budget check in for my February 2018 budget so if you are interested in that please keep watching so the first thing that I want to do is pull up a calculator so that we can have that for our numbers and then I want to talk a little bit about the things that have impacted my budget so far so the number one thing that's having the biggest impact on my budget is income and so I started a journal entry page here and I just want to jot down my income to date so as mentioned in the original budget video my first paycheck plus some money that I'm counting as income was six hundred and eighty nine dollars and let's get that change I believe 86 cents yes in 86 cents on the 7th of February I also received a payment from my youtube channel for three hundred and twenty seven dollars and twenty one cents and then on the 8th of February I also received a generous donation of $100 and I received that donation from DME brown on YouTube and I just wanted to publicly thank you for that very generous donation his or her comment was hi Stacy I enjoy your budgeting videos very much can you list your PayPal me link in the description below your video for anyone who would like to contribute to your financial freedom journey you're such a positive attitude to your current financial situation I would like to help with the small boost and I just want to say thank you thank you thank you I appreciate that I appreciate you supporting my work I appreciate you watching my videos I appreciate you commenting and then also to the community that helped me to earn three hundred and twenty seven dollars and 21 cents it was all of you all collectively that made that happen so I deeply deeply appreciate that because it certainly has helped because I am on the 15th of this month and my turtle earnings so far for February six eighty nine point eighty six plus three twenty seven point twenty one plus one hundred is 111 one thousand sees me one hundred one thousand one hundred and seventeen dollars and seven cents so that is the amount of income that I am working with so far and we still have fifteen days left in this month so I'm super excited about where the month of February is going so now what I want to do is go down my budget and show you exactly what I've paid so far and where these dollars and cents have been going based on my original budget that I did at the beginning of the month and I will link that video so you can see my tides were eighty dollars based on my take-home pay for my part-time job this number will increase because I would like I am going to pay tithes off of the three 2721 earnings and when I paid tithes off that that will be an additional $32 but neither of these payments have come out yet because of the place where I allocated my tide payment the big expense that has come out for the month of February so far has been the five hundred and twenty five dollars for my rent I've also paid the thirty five dollars and 82 cents for my phone bill and I paid the hundred dollars towards my CTA Pass I have also paid the my groceries which I had a budget of $35 and I want to see how much I actually spent for my food budget and the pages that you see me flipping through those are my allocated spending pages but the reason why I'm looking at my cash flow is because it has a budgeted amount and a spent amount and I wanted to write it on this page so 3511 I've spent of my grocery budget which means I'm 11 cents over my grocery budget but still doing pretty good I'm pretty I'm pretty proud of that number based on my original cash flow plan I've paid my rent I paid my cell phone bill I paid transportation and I paid a little bit of groceries and so now I want to get into where I anticipate spending the 320 or how I plan on spending the 327 that I've earned from google adsense and the hundred dollar donation so if you're looking at my allocated spending page you can see that in my next pay period that's when I intend to pay my tithes and I just in this third category I created a category for the payment of 327 21 and so what I have coming out initially is the thirty two dollars and seventy cents and the missed payment here there's not a line for taxes but I wanted to make sure that I paid my taxes on the income that I have coming in because I will be taxed and taxes are currently passed new taxes are currently in my debt snowball so I don't want to fall behind and my 2018 taxes Oh after I take out my tithe and after I take out my 30% tax what I have left over to spend is one hundred and ninety six dollars and fourteen cents and today I'm actually going to make that payment onto my rent because if you remember in my previous budget video I learned that I am NOT current on my rent I'm actually always paying my rent during the month that I'm renting and that is the concept of being current and I want to be current so one of my primary goals was to do that and with this extra 196 14 plus the money that I anticipate putting when I get paid tomorrow on to my rant I will be much closer to my goal so let's see actually a little number so 525 minus 225 minus 196 14 that would mean that I'm a hundred dollars and 686 cents away from my total rent payment and I'm very excited about that because that I mean that really just allows me to be able to get in front of and as comment or survivor fan 30 to get out of the red so I anticipate putting the entire 196 14 towards my rent payment the hundred dollars generous donation that I received from the M Brown the way that that is allocated is I don't have anything for that hundred dollars coming out and my knee-jerk reaction was to just put that hundred dollars towards my rent and then I would only be six dollars and 86 cents over but the reality of my situation was that so that money was automatically paid through my paypal account and what I didn't know is that I had expenses coming through my PayPal account because again I'm trying to one I'm trying to have all my expenses come from one place so I'm very clear on how much money is going out but two I just didn't realize the expenses that I have so almost as soon as that money hit my PayPal account payments were going out that I was just not expecting so I'm gonna clear that up this month and that's another reason why I'm doing the budget check-in because I really now won't be overwhelmed at the end of the month trying to shift payments around to a card and blah blah blah I'll be able to put it exactly where it is so what actually came out of the hundred dollars that I received as a donation so far is fifteen dollars automatically was withdrawn for my paypal bill and I'm just going to check to see if I didn't know that I was on automatic debit there because I always call in to make the payment but maybe it's automatic maybe it's set up automatic debit if I have a balance in my PayPal account I don't know but I'm gonna follow up with that my podcasting fee was something that I forgot to consider in my earnest to get out of the red in February when I was talking about my budget so that fifteen dollars definitely came out and it's interesting because survivor fan 32 was watching the video and she was the one who pointed out that I forgot that particular payment and then two other expenses that really blew me away were and and well one didn't blow me away because survivor fan pointed it out she pointed out that I forgot to include my son's podcasting are not podcasting my son's iTunes subscription so that 1096 came out but I noticed that another 1096 came out and I was like livid because I'm like I don't if I didn't have this money what were you guys gonna do and the truth of the matter is is I realize is that when the money is not in my PayPal account these items just get declined and I think in I think I was mistaken these subscriptions for being off because the payments just weren't going through so I definitely thought that there was only one subscription for the iTunes but clearly there was too so I am I tried to dispute this charge but if I couldn't Apple was like not having it and they were like we can do this for next month so I was like all right fine so next month that will be taken off so unfortunately of the hundred are fortunately because I'm grateful but of the hundred dollars that was donated 15 – 15 – 10 69 oops $100 – 15 – 15 – ten point sixty nine – ten point 69 there's 48 dollars and sixty two cents leftover of which I'm going to put towards my rent and and it so yeah so that's that's where the budget is right now so that 48 60 – I'm going to put towards my rent leaving my overall leftover rent that I need to cover as 57 dollars and 38 cents so I wanted to do a budget check-in because I want you guys to be able to sooner see the difference between what I'm planning and how things are actually happening but I also want you guys to be able to see how I'm able to reconcile things and when I say reconcile I mean that like I'm still struggling a little bit with forgetting things that are coming out and my earnest to get things right I'm still of the mind that certain subscriptions are cut off when they are clearly active and so just different things like that but it is definitely getting better and it is getting better with your help in this community both monetarily because the Umbra was very generous but also just from a community perspective of commenting and watching and so I just want to say I deeply appreciate your support I am well on my way I am less than 50 dollars away from getting out of the red and I am super excited and super just humbled by the support and I'm just I'm just so grateful that you guys are supporting this journey and I hope that while you are watching this that you are beginning to transform your financial blueprint so that when it comes that time it'll be more than just one of us screaming I'm debt free so yeah that is it my midweek check-in if you have any questions please ask them down below I will do my budget report card on about February 27th February 28th and that's where you will get all the final numbers to see exactly where every dime went so thank you so much for watching I look forward to talking to you very soon [Applause]

How To Start Paying Off Debt?

**How To Start Paying Off Debt?**



Views:

Rating:

View Time:Minutes

Likes:[vid_likes]

Dislikes:[vid_dislikes]

Want To Get Out Of Debt Faster And Develop A High-Income Skill? Click Here: How do you start paying off debt? Do you pay off …

3 Things Society Doesn’t Want You To Know About Money

**3 Things Society Doesn’t Want You To Know About Money**



Views:16013

Rating:4.90

View Time:21:32Minutes

Likes:645

Dislikes:13

In our culture today, you might hear people say things like:

“It’s impossible to graduate from college without taking out student loans.”

“You can’t buy a car or have nice things without debt.”

“The only way to become a millionaire is to be born into a rich family.”

But believe it or not, our culture doesn’t always tell the truth. Shocking, I know.

So, in the latest episode of The Rachel Cruze Show, I’m going to set the record straight. You’ll learn:

• Three truths society doesn’t tell you about money
• How a school teacher paid off $40,000 of debt in just 14 months
• The proven plan to become a millionaire, no matter your income

Resources (everything mentioned in this episode):

Become a Financial Peace University Coordinator!

The 7 Baby Steps:
Smartvestor Pro:
Investment Calculator:
Zander Insurance:
Financial Peace University:
Everyday Millionaires:
Show page:
– Well I hate to be
the bearer of bad news, but society has been lying
to you about your money. And as your money BFF,
I'm here to make sure that you know the truth. (upbeat pop music) Listen guys, society is not
always going to tell you truth. Yep, you're going to hear that
you have to go into debt for things you want, and to live a life where
you control your money and your future is impossible. But I'm here to tell you, that's not true. So today I'm going to show
you how to do some things that society tells you are impossible— things like winning with money right now, no matter who you are, not going into debt for things you want, and becoming a millionaire, because it is still possible. So I'm going to bring on Elizabeth who did the impossible and
paid off $40,000 in 14 months. And then we're going to have Chris Hogan back on to talk about how everyday people are becoming millionaires. Because again, society tells you, "To be a millionaire, you
have to be rich and famous." But that is not true. So I thought it'd be fun to see what people are
saying out on the street about these topics. So I sent
out my friend, Will Smith— not that Will Smith, sorry,
a different Will Smith— to get some insight, so take a look. – Hey guys, Will Smith here. I'm out here in Nashville. Let's go see what people
have to say about this topic. – Do you have student loans? – Yes. – Yes, quite a few. – Yes. – Do you think student
loans are a normal thing? – Yeah, I would say they're very normal. College is super
expensive, so most people who go to college, yeah, have them. – I think most millennials, particularly, have student loans. – Do you think it's possible for someone to go to college with zero student loans? – Do I think it's possible? Yes. Do I think it's likely? No. – No. – I think you'd have to have either parents or
somebody helping you out. – Do you have a car payment? – I do have a car payment. – Yep. – Yes, I have a car payment. – If you were going to buy a car tomorrow, how would you pay for that? – I would probably
put a small down payment and finance the rest. – How long would it take
you to save to buy a car? – With my income, I feel like it would be at least 10 years. – Maybe, two to three years. – How many millionaires do
you think there are in the US? – 100,000? – 1,000. – Somewhere in the 40,000s? – I would say, maybe,
anywhere between 100 and 200. – What if I told you there
were 11,000,000 millionaires? – That's shocking. – Do you think you'll
ever be a millionaire? – No. – Fingers crossed, maybe, one day. – We can hope. – And what is your plan,
to becoming a millionaire? – I am going to become an actress. – Maybe, not teach yoga anymore. – Make wise decisions with my investments. – Probably, get internet famous. That's what most people do, right? – Do you think you could ever
teach a class about finances? – No, I don't think I could ever teach a class about finances. – Not yet, no. – If someone asked you
to teach a class on personal finance tomorrow,
would you be able to do that? – No, but I would love to take that class, if it was offered tomorrow. – All right, let's jump into it. You can buy a car without debt. Mmm hmm. It may not be a great car, but you save up and
you pay cash for a car. You can go to school
without debt. It's possible. You may not be going to your dream school, or your teenager may not be
going to their dream school. Stay in state, go to a community college, work, scholarships and
grants, all those things, and you can still go to school without debt. And, you guys, you can
become a millionaire. We'll talk about that
later in the episode, but it is possible. But, there's a few things
that you must do first to set yourself up for success. (whimsical piano music) Number one: You have
to change your mindset. One thing I noticed, through
all those interviews, is that people really believe
that they just can't do it. And dealing with your
money, it is 80% behavior. It's only 20% head knowledge, okay? So understanding how money works
is only a very small portion of it. But doing it is actually
what's going to cause change. But, in order to do
something, to have action, you have to have hope. You have got to believe that you can. Number two: Stop believing the lies. Yes, society is going to tell you so many things about money. Everything—that debt is normal,
and the only way to succeed and to get what you want
is just the avenue of debt. That's the way it is. Guys, if that's what you believe, then you're going to be normal. Now, let me break it down for you. Normal—78% of Americans
live paycheck to paycheck. That's right. Their money comes in, they pay all the bills,
all the credit cards, all the car loans, all the student loans, their mortgage—everything.
It goes right back out and they have nothing. They have to wait for next month's paycheck. So, if you'd like to be
normal, you can be normal, but if you're sitting there, thinking, "That doesn't sound fun,"
or maybe that's your reality and you think, "Mmm, I can't do that." You get to change. You really, really do. Which is number three: Get on a plan. You have to be intentional. Now, this is not going to happen over night, but you have to stick to the plan. And the plan we teach,
over and over and over, is the Baby Steps. The Baby Steps are seven
steps that get you from zero savings, full of debt,
living paycheck to paycheck, all the way to living completely
debt-free, building wealth and being tremendously generous. Now, if you're not familiar
with the Baby Steps, make sure to click the link below, because that video is going to show you everything about the Baby
Steps, so that you can get to it. Guys, it works. I'm telling you, it works. And now, I'm so excited,
because I have Elizabeth coming on, who did the
steps. She's doing it. She did the impossible
and made it possible. And now, she is even teaching
people how to do it herself. So, take a look at her story. – I felt out of control. I
felt chaotic. I felt no peace. I had $40,000 in student loan debt. I had no idea how I was going to pay off the student loan debt that I had accrued. I'm a teacher, so I had heard,
"Oh, they'll forgive it after a certain number of years." So, I spoke to the student loan company and they said that the plan that I was on would never repay my student loans. She said, "We will forgive
your loans when you are 50 years old, or whenever you repay it all back." And that was my moment of reality. Once I started working the
Baby Steps in Financial Peace, and saw the momentum of
my debt snowball starting, I felt so victorious.
I felt like I had won and I had beat the system, almost. After I paid off all of
my student loan debt, my coordinator reached
out to me and he said, "You have a story to tell. And you did this on a teacher's salary, which
people can really connect with. And they think that that can't be done." It began to click for me,
that I had something special to share. So in December, I
decided to be a coordinator, and I led my first class in January. And it's so inspirational to
me, because it challenges me in the best ways, and it helps
me be a part of something that's life changing. People are motivated and want
to change their family tree, and I'm just so blessed that
I get to be a part of that. – Thanks, Elizabeth.
Thanks for being here. – Thank you for having me. – Yes, your story's so great. I love it, because not only did
you do the impossible, what some people would say,
which is pay off $40,000 in 14 months. But you
overcame some myths and lies that our society believes about money. So, first and foremost, $40,000— – [Elizabeth] Yeah. – in 14 months. Okay, how did you do that? – I became gazelle intense— – [Rachel] Yes. – to use your dad's words. – I love that. – I just, worked really hard. – So, you're pretty
vocal about your journey, like, you told people. – Yes, yes. – What do most people think about it? – They thought I was crazy. Especially since it
was student loan debt. A lot of people would say,
"You know that they'll forgive that, right?" or "After so
many years, it'll be gone. You don't have to worry about it. Why are you wasting your money, now?" And I'm like, I don't want to live that way, I don't want to be indebted to someone else. – Yes, that's so good,
because that's a great point, that you brought up is—there
really is this myth out there, of people believing that
student loans, they'll just be forgiven one day, don't worry about it. And so, you fell into
that some, you feel like? – Yes, what they don't tell you when you sign the paper
for your student loans, is that the loan forgiveness
is very difficult to get. – Yes, it's beyond rare
for that to be a reality. So the reality, for most
people, is that they're going to have this debt and, if
they don't do what you did, then they keep student loans
around, forever and ever, and stay in debt. But you got intense. You worked like crazy
amounts. Because how many jobs did you get? – I had like eight jobs, at one point. – That's unbelievable. Tell
me what some of them were. I'm just curious, what'd you do? – Yeah, I worked at a bakery, part-time. Babysitting became my jam. I babysat all the time. I do calligraphy, so I
would write on chalkboards and address envelopes for people. And I just tried to use any
talent that I knew I had in my back pocket to help
me make some extra money, on top of teaching full-time. – And you did it, yes. That's incredible. So, then you became debt-free
and then became passionate about this message of living debt-free, and living intentionally,
and the Baby Steps, and all that's taught in
Financial Peace University. And, with the class,
there's always a coordinator that helps facilitate the discussion. And you became a Financial
Peace University coordinator. So, you taught a class. How'd it go? – It was so great. We had an amazing group of
people and great attendance they really stuck with it. It was transformational. – Were there a few
people in the class that you loved their story
and you were like, wow. Like the transformation
they made was unbelievable? – Yeah, there was one
couple who made $120,000 total, so they had a good amount of money, but they were so in debt. – Isn't that amazing? – Yes. – I mean, seriously, though. A lot of people really believe, "If I just had more
money, I could do this." I'm like, no, if you don't
have good money habits, the more money you have, the
bigger the mess is going to be. – Right. – And so, just because
you're making a huge income, you could have a big
mess, which is this family. That is always
so interesting to me. So keep going, sorry. – Oh, you're fine. So, they paid off $15,000 of
debt, just in the two months that they were in my course,
so I was so proud of them. And now they want to be
coordinators and help share their success and help people, so. – That's amazing. That's so great. So, what made you want to do this? Because not only is going
to the class, somewhat a commitment. You go nine
weeks and you're with a group. But when you say, "Hey, I'm
going to go and do it again, and actually facilitate."
It must have obviously changed your life for you to do that. So what was the why for you? – The course transformed my life so much. And I'm just so thankful
that I took Financial Peace in that moment in my life,
that I can't keep quiet about it. I want to tell everyone
about what this course can do for you. No one taught me,
growing up, how to budget, and how to save, and how to invest. And so, now that I have that knowledge, I just want to tell everyone I can. That's my why. – Yeah, it's so good. It's so good. Because so many of you
watching are thinking, "Oh my gosh, we have so
much debt, we don't budget," and all of this, so going
through Financial Peace University, just as a member is huge. But people may be watching
this and thinking, "Okay, I'm doing this. Maybe
I'm on the other side," like you are. Would you say that you have
to be super financially smart and that you have to have all the answers? Because some people could
be intimidated by it. – Right, I would definitely
say I was in that boat before I got started
with being a coordinator. I thought I didn't' know enough about investing and real estate
and all of the Baby Steps, past Baby Step three, basically. But, my coordinator
from when I went through Financial Peace, really encouraged me and met with me and talked to me about how to be relatable and share my story. And that was what was
going to connect with people. And if I didn't know the answers, I could reach out to
someone and they would help me figure out the answers. – So good. Well, seriously, I know from
our seat, our perspective, at Ramsey Solutions, we always say the radio show can only reach so far. Only so many people
know about the podcast. Only so many people watch the shows or go to the events. But
it's the coordinators that are in their cities, in their towns, all over America, thousands and thousands of you all, sitting down with
people on a Tuesday night or a Wednesday night or a Sunday night and have this group.
Really it becomes a family, in this class and completely
transforming their lives and you spearheaded that, for you guys. So I so appreciate it, seriously. You're like in the trenches,
boots on the ground, helping spread the message. It's spreading the
message of hope, you guys. It's what we want—for you
to take control of your money. And so, I so appreciate it and I'm so glad it was a great experience for you. – Thank you. – So, if you guys want to coordinate a Financial Peace University
class, just like Elizabeth, make sure to click the
link in the show notes. And, coming up next, Chris
Hogan is going to come on and we're going to talk about how
you can become a millionaire. (upbeat pop music) (shifter clicks)
(door knocks) (latch clicks) Guys, let's be real—being
a parent is hard work. Now that I have two daughters of my own, it feels like the to-do list never ends. And, as every parent knows,
your priorities change and you have to make important decisions for your child's future. – That's why term life
insurance is a must, for every parent. It's so easy to get and it's affordable. What you're looking for is 10 to 12 times your annual income, to make sure everyone in your family is taken care of. Winston and I use Zander Insurance. They do all of the work for you to find the best prices and options, so go to Zander.com to get
started on a quote today. Because that's who we trust
to take care of our family. (easy pop music) – Hogan, you're back. – I am back and I'm
excited to be with you. – I'm so glad. Okay, so I can't wait to dive in, because people believe the lie that you just can't become
a millionaire today. But it's a lie, people. It's a lie. So, let's go through, really quickly, the top three lies people believe, and I want you to hit me with the truth. – Okay. All right. – I mean, don't really hit me. – No, I would never do that. – That would hurt. – No, I wouldn't do that. But, I'm going to tell you the truth. – Yes, do. – Because, you're right. There
are some lies out there, so. – Yes. – You lead. – First lie is: A lot of people believe, to become a millionaire, you
have to inherit your money, or that millionaires, they've
only become millionaires because they inherited a bunch of money. – Rachel, people actually believe this. And you know why? It's easy for people to believe that, hey, someone just handed it to them. Nobody really worked hard themselves. So here's the fact: We studied over 10,000 millionaire's
all across the country. We did the largest study
that's ever been done. We found out the truth. According to our research,
79% of the millionaires didn't inherit a dime. – Nothing. – Nothing. That means, that they didn't
have it handed to them. This was someone that actually worked hard and built up wealth over time. So, inheritance? No. – Okay, another lie is: People say, well, I have to make a ton of money. I've got to make at least six figures in order to become a millionaire. – Rachel, this is another
myth. It's not true. According to our research we had a third of the millionaires that we studied, never had a six-figure household income. Can I tell you something else? – Oh, bring it on.
– Top three positions. Top three positions of the
millionaires that we studied. Number one was engineers,
which isn't surprising— they plan stuff. Number two was accountants. That doesn't surprise.
– Makes sense, sure. – They know money. Number three blew me away. Number three was school teachers. – Okay, I love that you mentioned that, because we actually just
had Elizabeth on the show. She's a teacher. She's on Baby Step six. So she's working her
way there, and she will. She will become a millionaire— – She will, Rachel. – which I love. – Because she's attacking
with Baby Step six, she's going to pay off the house. And then she's got that value, plus the money she's
putting into her 403b. She's well on her way, because debt's not stealing from her anymore. She's being intentional. – That's right. Okay, so there's a lot
of interesting things you guys found out in the survey. Things like typical
millionaires, they coupon, they drive used cars,
all these cool things. But I want to know the real tactical stuff. To truly have a net worth
of $1,000,000 or more, there's really three big
things that you have to do. Yes, all these other
things help, for sure. But one of them is, when you start to win, to keep your lifestyle still at a minimum. That you don't go crazy,
spending a bunch of money. No, these people—these
everyday millionaires, I call them, because they're
everyday men and women— you wouldn't know it,
Rachel, when you met them. They knew what allowed them
to get to that $1,000,000 net worth—being intentional
with their money, being very focused. And
yeah, they have nice things, but they save up and they pay cash for it. – It's so good. So even
upping their lifestyle, just a very small percentage,
they don't go crazy. – That's right.
– I love that. Okay, another thing, to get
you there, is investing. – Rachel, you know this
is the truth, right? Can I tell you this? 80% of the millionaires we studied said the number one thing that caused them to build their $1,000,000 net worth was one thing: employer
sponsored retirement plans. And one more thing: 68% of
the millionaires we studied used an investment professional. That means they had someone
to guide them along the way. That's why you and I talk
about the SmartVestor Pros. You don't want to do this alone, right? If you've got car trouble,
you go see a mechanic. If you've got a health
issue, you go see a doctor. We're talking about your
dreams and your future. You need to talk to an
investment professional. – So good, you guys. I mean, seriously, when you're investing, your money is working for you. But I want you out of debt,
to have your emergency fund in place and start down that path. – Yes. – Okay, the other big thing
is paying off your house. A lot of millionaires say
they got a lot of their net worth by paying off their house. – Yeah. This is the last big step. You and I know this, being plugged in with Financial Peace University. When you become 100%
debt-free, and now that mortgage payment isn't
leaving you anymore, that mortgage payment is there
to do more for your family or to help you catch up
for your retirement dreams. But, this is a big deal. So much so, that I developed a free tool. It's a net worth
calculator, at my website chrishogan360.com to
help people understand what is your net worth right now? And I want to explain it to your viewers. So, to get to net worth, what you take is all that you own—that's
in your bank account, your 401k, your IRAs—add all that up and subtract out anything you owe on. So, what you own minus what you owe. If that end number is $1,000,000 or more, then congratulations, you're
an everyday millionaire. – You're a millionaire. – That's right. – And the great thing
is, we talked about it earlier in the episode, but it's so true, is that this is possible. Society is going to tell you,
no, unless you're famous, or you have a rich family, there's no way you can become a millionaire. You can—anyone can—and your
book is to prove it, right? – [Chris] It does prove it, yeah. – [Rachel] The "Everyday Millionaires." – That's what got me
started down this path. The American dream is alive and available. What we have to do is make a
decision that we're going to do it and you have to keep deciding, every day. – So good, you guys. You can do the impossible.
It's possible for you. – It is possible. – Okay, if your curious about this book, because it is so good,
you could actually read the first two chapters,
completely for free. Just click the link below. – Are you giving away my stuff? – Just a little bit, you know. Just a giver. I'm a giver, on the show. – You are a giver. – It's called The Rachel Cruze Show. – Yeah, you are kind of in charge. – Welcome, welcome. (laughing) – You're kind of the boss. You're small, but you're the boss. – I'm bossy, sometimes, yes. – So much so. – Hogan, thanks for coming on. – Thank you, for having me. – Seriously, great information.
– Good to see you. Thank you, ma'am. – All right guys, thanks
for tuning in today. I loved this episode, because
there's so much truth in it. And so I hope you feel
encouraged, because you guys can do this. Thanks again, to Chris
Hogan for coming on, and Elizabeth for sharing her story. So to get everything we
talked about in this episode, make sure to click the
link in the show notes. And if you've not subscribed
to my podcast yet, make sure you do that,
because there's always some fun bonus material there. And, as always, for you
all, be sure to take control of your money and create a life you love. – Rachel Cruz. – What do you think, Chris Hogan? – I have no idea. – I think it's just really great. – It is hilarious. – Be a millionaire, Hogan. – You can become a everyday millionaire. (laughs) – All you have to do is invest. (both laughing) – No more. – That's so good. – That was hilarious.

Budget With Me | January 2017 Budget and Cash Envelopes | FrugalChicLife

**Budget With Me | January 2017 Budget and Cash Envelopes | FrugalChicLife**



Views:13678

Rating:4.93

View Time:6:Minutes

Likes:511

Dislikes:7

Hi guys! Have you done your January budget yet? Start the New Year off right! #newyearnewfinances

Related Videos:
No Spend January | Post Holiday Consumerism Detox | FrugalChicLife

Like My Shirt?? 👕 I have them for sale☺
Order your here!

Connect With Me!
Email: [email protected]

Instagram: frugalchiclife

My New Facebook Group (FrugalChicFinance):

Get to Know Me!
50 Fast Facts About Me | FrugalChicLife

Recent/Popular Videos:🎥🎬

Budget With Me | December 2016 Budget | Filling My Cash Envelopes | FrugalChicLife

Money Management Monday | Why You Need a “Life Happens Fund” | FrugalChicLife

Money Management Monday | How to Stop Living Paycheck to Paycheck

15 Bank Accounts?? | Banking and Sinking Funds | Financial Freedom Journey | FrugalChicLife

Journey to Financial Freedom | FrugalChicLife (First Video Ever!- YIKES)

Money Management Money | 5 Money Myths That are Keeping You Broke | FrugalChicLife

Money Management Monday | 5 Reasons Why You Need Multiple Streams of Income | FrugalChicLife

Debt Free, Financial Freedom, Financial Independence | What’s the Difference? | FrugalChicLife

Splurge vs. Save | 3 Things Worth the Splurge | FrugalChicLife

Money Management Monday | Paying Off Debt | How to Get Started | Financial Freedom | FrugalChicLife

Paying Cash for My Next Car| Progress Report | $25,000 Goal | Update October 2016 | FrugalChicLife

Budget With Me | Cash Envelopes | November 2016 | FrugalChicLife

Money Management Monday | 50/30/20 Budgeting | FrugalChicLife

Money Management Monday | Budgeting 101: How to Get Started | FrugalChicLife

hello and welcome to my channel today I'm here with my January 2017 budget I'm gonna start off with my cash envelopes for January this will be very brief because I am more know spend January so I will not be doing any additional discretionary shopping any shopping for recreation no outside entertainment that's gonna cost money so if you want to get on board with notice in January it's not too late I'll include the video link in the description box below if you want to check that out my cash envelopes fluctuate anywhere between nine hundred and one thousand dollars for the month I do go and take that money out once per month and fill up my envelopes and that carries me through the end of the month hopefully I found that switching to cash has definitely helped me be a little more accountable with my spending it helps me to keep my spending on track and psychologically we are more likely to hold on to our cash as opposed to one where swiping a debit or credit card we tend to overspend so you have a couple of options of what you can do with your additional money that's left over in your budget if you're doing no spend January you can take the money and apply it towards debt or you can use it to add some additional cushion into your emergency fund or whatever other savings account that you might have in place so the first envelope that I'm going to fill is my grocery envelope and I'm gonna put five hundred dollars in there next I'm going to put $200 in the gas envelope so here I have $300 left from my cash envelope since I'm not filling the rest for the month of January and I plan to take this additional money and put it aside into the emergency fund which one of my goals for 2017 is to get that fully funded so here's a quick look at my January 2017 budget at the top is the income information which I leave blank for the purposes of recording my budget videos over here I include the pay dates and this next section our fixed expenses and for me those are tied mortgage home equity line of credit HOA and utilities for the utilities line item I include one lump sum amount for the month and that includes gas and electric a water bill if it comes in that month we get our water bill quarterly phone's internet all of that is lumped together and I transfer the $600 into an online checking account that I keep specifically just for that over in this section this is where I document they due date that the particular bill is due like for example the mortgage the home equity line of credit in the HOA or all due on January 1st can I go ahead and highlight those actually that's not right that's an error this is actually due on the 23rd of each month so what I do is include the due date and then highlight the section when I paid it so that I know I've done it so moving down to the next section are my cash envelopes which are very brief this month because of no-spin January so for bursaries I'm putting in $500 for the month and $200 for gas this section is my electronic sinking fund so I keep these in online savings accounts I do have some videos related to this if you want more information about that you can check the description box below for those video links some of these are very low and I need to get them boosted back up I have a life happens fun which we're putting $100 in for the month we do plan to take a family trip we don't know exactly where but sometime this summer so I need to get that going again a regular expenses $100 for the month and a regular expenses and clue things like for example in accounting Fein tax time is coming up soon and we will have to pay that accountant so that money will come out the irregular expense account other irregular expenses include things like car registration renewal also the fee for our financial planner which is paid once per year as well and this line item just helps me to remember in to keep in the back of my mind that there are things that will come up throughout the year that aren't necessarily monthly expenses they're irregular so in order for me to make sure that I'm putting money aside for these things so they so that they don't pop up and surprise me I set a certain amount of side each month before that wherever possible summer camp will be here before we know it so I'm putting a hundred dollars aside this month for that and of course I'm getting started on Christmas already and I'm gonna put fifty dollars aside this month total sinking funds four hundred and fifty dollars this section is my savings section this is a new a sort of new aspect to my budget for 2017 savings challenge 2017 I did do a video on that but I have not yet uploaded it so I will upload that hopefully sometime soon and explain what that is College Fund is two hundred and fifty dollars for the month that's a 529 plan for the kids and we do put three hundred dollars into an investment fund each month as well so our total monthly spending for january i'm budgeting two thousand eight hundred and eighty dollars and that is the total without the mortgage and the target offering so that sums up the budget for january 2017 so that's it for my cash envelope and budget video for january 2017 i hope that you all had a great new year and i hope that you all have your budgets ready to go for january if you haven't what is stopping you this is a perfect time to get your money straight and to get your money in order for the new year if you'd like the budget excel spreadsheet that i created please stay tuned for tomorrow's video money management monday where i will show you how to create your own thanks for watching and as always live well and be blessed you

New Worksheet for Paycheck Budget

**New Worksheet for Paycheck Budget**



Views:13833

Rating:4.95

View Time:9:8Minutes

Likes:588

Dislikes:6

In this video, I am showing you the new Bill Tracker for my paycheck budgets. I love the new layout and how there is a spot for every area of your budget. This Bill Tracker can be used for any income and any pay schedule, which makes it truly customizable to your own life. For me, it’s the perfect solution for creating a plan for your bills, saving, and debt.

This new worksheet will be released next month, after the release of the new physical edition of the Budget-by-Paycheck Workbook at the end of next month.

LINKS REFERRED IN THIS VIDEO

The Budgeting Method That Changed My Life:

Join the TBM Family Facebook Community:

How to Start Using the Cash Envelope Method:

Don’t forget to subscribe!

ABOUT ME
I’m the blogger behind I have a rambunctious 6-year-old son, live in Washington, and I’m passionate about helping people with money management and personal finance. Let me know what you like to learn more about! Leave me comments and suggestions on my video and let me know!

YOU CAN FIND ME AT:
Blog:
Instagram:
Facebook:
Pinterest:
Twitter:

GET STARTED
Start Here:
Free Email Course:
Free Resources:
GET 10% OFF my popular 2019 Budget-by-Paycheck Workbook – Coupon Code TBMYOUTUBE

CONTACT
[email protected]
good morning I have been up since about 3:30 this morning I woke up I had a dream last night oh my gosh I don't know why this happens to me ha but I had a dream last night and in my dream I saw the bill tracker and the bill tracker had rounded corners I'm gonna show you this morning so here's the thing since I went from paying off all of my debt to now i'm in savings mode I realized that if I'm in this position then there's got to be other people out there in the TVM family who is also in this position where you don't have debt and you have savings on the old bill tracker and let me just grab it I'll be showing this on the table as well but on the old bill tracker there is only an area to make extra debt payments there is a savings plan area but I've been using it for my sinking funds and so something that's been kind of bugging me is that in order to make any or to put on my budget that I'm you know I have extra savings like savings going to my house I've had to white out the word debt and put extra savings here and so I also realized that a lot of my paychecks at least once a month I have a paycheck where I have multiple sources of income and I like to break my income down as you can see I have it written down here I was getting frustrated as you can see there's white out on this bill tracker but of me having to write it over here on the side there was just a couple of small things like that but in my dream I looked and I was looking at the bill tracker I'm sorry I'm just so excited about this probably why I couldn't go back to sleep tonight I get very very excited about these things I created a new bill tracker I try sharing maggiore to reminders that they're in that work hard work dedication motivation it's all about having a plan here my my life they're like oh man you go in as you can see now and let me bring the old ones side-by-side so you can see it here's the old ville tracker right here here's the new one this one has a couple of boxes you can do your income now but how you work your budget is like this you pay your regular bills online first step take care of your regular bills then you take out cash for your envelopes then you take care of those expenses that come up in your life that sometimes forces you or pressures you to use your credit card now remember my budgeting method is all set up to deter you from going into more debt it's getting you to set yourself up financially for the future so you have cash for those expenses so then it becomes your sinking funds after you have your regular bills paid your variable cash envelopes taken care of you are thinking about the future then it becomes extra debt payment and after that you have extra savings okay those are this the this the order in which the debt your budget should be laid out so now there is an area for everything on this new bill tracker as you can see with the old bill tracker I had just one area for savings one area for debt now you're getting an area for sinking funds and extra savings if your budget will allow you to do it I kept all of the letters and numbers to help you fill it out you match up the letters as you go along so for instance after I pay my regular bills I have a leftover income of 619 C the letter A so you might be wondering well what do I do with this 619 we'll look for the letter A here it is you use it for your envelopes once you take care of your envelopes it's how much money do you have leftover leftover B I have a hundred and fourteen dollars so your ask yourself what do you do with that 114 you take care of the future and here you go see how the letters match so you'll use your leftover income 114 you take care of your sinking funds now in my budget for the 20th which is today which means I need to still go online and pay my bills I will be going to the bank to pull out cash on for my envelopes today but I do not have anything for extra debt I don't have any debt or extra savings but as you can see when I get to my paycheck on February 28th I am making an extra savings contribution to my house savings and do you see how I have to wipe out not anymore there is a place for that now when I talked about seeing in my dream the rounded corners do you see how on the old bill tracker its square like these are just square boxes now they're rounded and this is what I saw in my dream I think this gives you a more overall financial plan because remember your budget is not just writing down numbers for your bills a budget means preparing it means planning an overall plan for your entire financial life that's savings that's variable spending that's paying off debt all of those things should be included in your budget and when you do that you will truly feel prepared because you're truly giving every dollar of your income a place in your budget or financial plan this really does take care of the three major things in your budget bills debt saving and of course you have your cash envelopes for your variable spending so here's the old one and as you can see another thing I didn't like is my monthly bills sometimes I didn't have enough to get these two spots filled up so I had to use arrows now it's all on one area right here there is enough lines I spent morning updating the new bill tracker I got some suggestions yesterday that the flow was kind of off and I wanted to add something someone be showing you I'm gonna be showing you um the new bill tracker and what that looked like today so let me show you what I have going on so this is the new bill tracker let me kind of just show what's going on here and I got some comments about wanting some more income boxes and to add a budget an actual area to the income as well as to the sinking funds extra debt envelopes and extra savings so now there is a budget in an actual column for that I also got asked to change the flow of the worksheet so now it is an order so bills envelopes sinking funds extra debt and savings because before it was going from left to right right to left and it was bouncing around a lot so now all of the boxes are adding up in order I did add more envelopes and more areas to the extra and extra debt and extra savings area so this is the new bill tracker I am not making any more changes to it um in fact I already filled out my paycheck for the 28th with it and I'll show you what that looks like really quickly this is my paycheck for the 28th and it's wonderful now remember my paycheck with the 28 is a full month this is one month budget because I am I'm switching to UM self-employment income where I'm going to get paid one time a month on the last day of the month so these are all of the bills that I pay every month all of my sinking funds every month and I did have money left over to do a house savings contribution and we'll be doing a video overview of this paycheck as well if you found this video helpful please share it and don't forget to subscribe you