Budgeting isn't fun, but it's pretty easy. If you're new to creating a budget, look no further. In 10 minutes you will know how to create a budget that works and that you can adapt for the rest of your life. The steps are below, but watch the entire video on how to implement this and make sure you save the most money in areas that aren't as important to you.

Step 1: The purpose or reason. Why do people go on diets? What emotional reason do you have for budgeting? Make it personal so it becomes a must.

Step 2: Just like with a diet, the next thing you need to know is how much is coming in and how much is going out. Keep track of income and expenses, as well as the calories you consume and the calories burned.

Use year-end credit card statement apps like EveryDollar, Minto.com
The regular bills are simple, but it is important to keep track of everything
Small purchases cause damage such as “death by 1000 papercuts”

Step 3: Determine a healthy budget template to achieve your goals. Dave Ramsey's formula is

Charitable gifts 10–15%
Savings of 10–15%
Housing 25-35%
Utilities 5–10%
Food 5–15%
Transport 10–15%
Clothing 2–7%
Medical/health 5–10%
Insurance 10–25%
Personal 5–10%
Recreation 5–10%
Debt 5–10%

Depending on where you live, these numbers may need to be adjusted, but this is to protect you from emergencies and ensure maximum safety for you and your family.

Step 4: Compare your numbers and ratios with his and find the top 20%.

Use the 80/20 rule. Which 20% of the bills costs 80% of your money.

Step 5: Attack the big ones first!

Step 6: Attack the Smaller Things! These are memberships and subscriptions you don't use or aren't worth the cost, groceries you throw away, clothes you don't need, and so on.

Step 7: Adjust each month. Just like a diet, it should be a lifestyle that you adopt, and not a fad. Find the fat and trim it every month so you get the most enjoyment out of your money in a way that puts you on track to achieving your goals in a sustainable and safe way.

Take control of your finances, reinvest in yourself, and then take control of your life. That is my mission and vision for you. To take ownership of your life, go to BradleyJarryd.com/BestBuys and get 50 pages of the best products, services and companies that helped me live debt free and save 100,000 on just a 50,000 salary.

Want to eliminate your stress, rebuild your marriage, and gain clarity about your finances? Schedule a 15 minute call with me BradleyJarryd.com

Thanks so much for watching! I'd love to hear what you think, so leave a comment and let me know what information and videos you'd like to see. 🙂

Best wishes!

-Brad
Dave Ramsey preferred coach
BradleyJarryd.com // IG and TikTok: @IamBradleyJarryd

#financialeducation #savemoney #daveramsey

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