Different Approaches to Budgeting – Episode 176

March 18, 2020

Maybe the reason you haven’t been able to stick with a budget is because you’re trying to use the wrong kind of budget! There are different approaches, apps, and methods out there, and finding the right one for you could be the difference between a failure to launch, and you becoming a budgeting pro. We’re here to remind you of the many benefits of having a budget- it’s not only about saving more money (but really, who needs more of a reason than that?!). We’ll share some universal tips that will help you get started as well as show how budgeting can look different based on your personality type.

During this episode we enjoyed a Bourbon County Wheatwine Ale by Goose Island – a big thanks to Alex for donating the beers to the show this week! And if you enjoyed this episode, be sure to subscribe and give us a quick review in Apple Podcasts or wherever you get your podcasts. Help us to spread the word to get more people doing smart things with their money!

Best friends out!

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One comment on “Different Approaches to Budgeting – Episode 176

  1. Brad B Mar 19, 2020

    Great thoughts on budgeting! I’m with you for still carrying around my iPhone SE 🙂

    On that note… we’ve ditched relying on a phone carrier to get “free” phones at the cost of flexibility and contracts. Instead, we’ve budgeting aside a small amount each month to replace our iPhones with late models from Swappa every few years.

    When we first got serious about budgeting around 7 years ago, we started with a hybrid envelope system where we took Monopoly money to visualize my income and budgeted it out to envelopes. That later progressed to finding YNAB which we’ve used to this day.

    I’m intrigued about the Kakeibo system… there’s part of me the likes the idea of manually keeping track of everything and being more involved in the process. The biggest value I’ve received from YNAB is the ability to save for future expenses with the categories and being cashflow based, instead of accrual (like Mint).

    Keep up the great work!