Tag Archives: money management

What Every Creative Needs To Know About Finances | 50 30 20 Budget

**What Every Creative Needs To Know About Finances | 50 30 20 Budget**



View Time:3:30Minutes



This video explains the 3 lessons every creative learns in finances too late. I’ll tackle how to budget and save money, especially as a broke artist. Planning a budget doesn’t have to be complicated and an easy budget such as the 50 30 20 budget can work for you too!

You can get to financial freedom and start managing your money the efficient way. As creatives, we just need a little push to the visual side so we can stop focusing on the numbers and start focusing on an easy way to understand our finances!

So often I find complicated dissatisfying diagrams trying to explain how to budget or get out of debt, but this doesn’t have to be the case!

Grab your notebook and let’s start to think about budgeting the simple + creative way!


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hey guys I'm Forrest like the trees today we're gonna talk about the three lessons every creative learns about finances too late so let's dive right in number one you gotta pay yourself first I feel like I learned this one a little late in the game I created a fashion line and the biggest mistake I always made when I sold garments was that I never paid myself at the end of the day I had no money to show for all the work that I had put in and as business owners and artists we always want to make sure our business is on its feet by reinvesting on upgrading our equipment but you have to remember you're not working for yourself for free you are your very first employee and the most important one and if you're not paying yourself properly at the end of the month then your business is really just a pool of your own free labor and you're basically an unpaid intern and personally I don't need any more internship hours log to my name so start paying yourself weekly bi-weekly whatever it is just give yourself a paycheck so the second lesson is to budget but budget to find clarity budget to clarify where your money is on the up so often budgeting is misconceive just counting every penny and is no fun but budgeting is really more about taking control of your money and knowing where your pennies end up you want to know where your money is going and how do you use your money to your advantage right if your money can work a little bit for you then why wouldn't you want to be in control of that budgeting doesn't have to be complicated either so just take a moment and explore different types of budgeting that can work best for you as an artist and that leads me to my third lesson one type of budget that I find super visual and easy to wrap your head around and you know this is especially if you're an artist or creative it's called the fifty thirty twenty rule it's a super simple way to remember where your money should go a budget for people who don't want to budget and so first think of a circle and we're gonna slice up your circle like a pie your circle is gonna be your income and we're going to distribute your income in two different sections 50 30 and 20 so slicer pie down the middle and 50% of your income is gonna be your knees like groceries rent insurance you know whatever the things that are necessary for you to keep thriving or surviving next slice the other half of your pie 30 percent is going to be anything that you want and we're separating your pie into once and needs so far do you want a new pair of shoes or do you need them whatever your wants are it should generally only be about 30% of your total income and so the remaining 20% is gonna go to your savings and this can be savings account or investments even but the more you save the more your money will work for you and you know make sure to start investing early the earlier you invest the better and so I hope some of these tips helped you guys out especially if you are creative struggling to get a hold of your finances if you guys have any questions just DM me on instagram at forest Alethea and i can help you to get the most out of your money now go get creative and manage your money thanks so much for watching if you like my video give me a little love like and subscribe below bye guys

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

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



View Time:6:Minutes



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

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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

How To Calculate What To Save And What To Spend

**How To Calculate What To Save And What To Spend**



View Time:1:1Minutes



Sallie Krawcheck, co-founder and CEO of Ellevest and a former Wall Street executive, breaks down a simple formula to help you figure out how much of your income you should spend and save.

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How To Calculate What To Save And What To Spend
even if you don't know what your goals are try to start as soon as you can and what you should shoot for is of your take-home pay 50% of it should go to needs it's your rent that's the car that you need to drive to work that's your work wardrobe 30% to fun because we're only on this earth a short amount of time we need to have fun and 20% goes to future you whether that's grandma Esther you or whether that's 10 years from now buy the home you beginning to sock that away now for a lot of folks that can be difficult to get to so start with 1% goes to future you 2% do what you can start where you are but you know support grandma Esther in some way because you know at some point you're not gonna be able to support yourself

Budget Binder : July Paycheck #2 | Zero-Based Budget | MamasGottaBudget

**Budget Binder : July Paycheck #2 | Zero-Based Budget | MamasGottaBudget**



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Please let me know if you like by giving a thumbs up and commenting below! thanks for watching! ♥ Ryanne Spreadsheet version of this budget: …

Easy Ways To Save On Insurance | CNBC Make It.

**Easy Ways To Save On Insurance | CNBC Make It.**



View Time:1:3Minutes



NerdWallet lays out seven ways to save on homeowners insurance to get the protection you need at a better price.
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Easy Ways To Save On Insurance | CNBC Make It.
tip number one bundle your auto and home insurance policies many providers such as estate progressive and American family offer discounts which could save you as much as twenty percent tip number two make your home more secure you can qualify for cheaper rates by upgrading systems like plumbing and electrical or by adding features that make your house tougher to penetrate like storm shutters and deadbolt doors tip number three look for more obscure discounts simply setting up automatic bank payments or being a new homeowner could qualify you for discounts so make sure you ask tip number four raise your deductible a common deductible is between 500 and a thousand bucks making that number higher could bring your rate lower tip number five shop around since your provider may no longer be offering the best deals it always pays to browse around and compare you