JANUARY 2023 BUDGET RECAP | Budget By Paycheck + Budget Tips
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- čas přidán 22. 07. 2024
- Welcome to the first budget recap of 2023!!
Not only do I show where my dollars went, but I also discuss if I stuck to my budget limits.
In this video, we are still missing Ryen, but I am hoping to have her back on for March's budget recap! For January, I used many different sinking funds and I show you how to incorporate savings into your total monthly inflow.
What do you do with your budget after the month is over, and you’re ready to begin a new month? Most people don’t realize it, but your spending throughout the month gives you some incredibly helpful information.
One of the first steps to creating and sticking to a realistic budget is tracking your expenses. Your spending is the underlying foundation for creating a budget and ensuring that your budgets in the future are successful.
If you are not aware of where your money is going, you can’t make the best decisions for your dollars. Today, I am going to show you how to extract all of the vital information from your expense trackers using the "Where Did My Money Go?" Worksheets.
CHAPTERS:
00:00 Introduction
03:34 Yearly Spending Overview
04:43 Budget Category Breakdown
08:41 Investments & Savings Breakdown
10:26 Spending Comparison
12:01 Conclusion
➡️ HOW I TRACK MY SPENDING: bit.ly/3aIe89I
➡️ HOW TO USE A BUDGET CALENDAR: bit.ly/2IzF2Vj
➡️ FINDING YOUR WHY: bit.ly/3aJUryj
➡️ THE BUDGET MOM'S FINANCIAL FREEDOM STEPS: bit.ly/3cfJXsp
➡️ HOW TO GET STARTED WITH THE CASH ENVELOPE METHOD: bit.ly/2vQJaO5
➡️ HOW TO CREATE A PLAN OF ATTACK TO PAY OFF DEBT: bit.ly/2wDETxF
➡️ HOW TO CLOSE OUT YOUR BUDGET: bit.ly/2Uz0UUW
ABOUT ME
Kumiko Love is a single mom who empowers women everywhere to regain control of their financial lives. An Accredited Financial Counselor with over nine years of experience in the finance industry, she founded The Budget Mom, a community of millions of women on a path to financial fulfillment.
She's also the creator of the wildly popular Live Rich Planner® and Budget by Paycheck® Workbook. Love has been featured on Good Morning America, the Today show, CNN, CBS, ABC and in USA Today, US News, World Report, Huffington Post, Money Magazine, Parents Magazine, the Washington Post, and Real Simple. She lives in Spokane Valley, Washington.
YOU CAN FIND ME AT:
📝 WEBSITE: www.thebudgetmom.com
📘 FACEBOOK: / thebudgetmom
📸 INSTAGRAM: / thebudgetmom
📌 PINTEREST: / thebudgetmom
GET STARTED
➡️Start Here: www.thebudgetmom.com/start-here/
➡️Courses: courses.thebudgetmom.com/
➡️Free Resources: bit.ly/2PDmTHz
➡️GET 10% OFF my popular Budget-by-Paycheck Workbook - Coupon Code TBMCZcams bit.ly/3FEdZFp
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I’ve been following you for years! I love you and your budget by paycheck workbook. I am proud to say that I’m OFFICIALLY credit card debt free as of January!!🎉 It took years but I’m happy that I’m finally free of those payments every month!
🎉
Stunning achievement!!!
My parents knew how much each other made, and each made a promise to donate a certain amount so that bills could be paid (no idea if it was a certain percentage, or if one paid more), and then there was a certain percentage or amount that they had in separate accounts. They found everything necessary was taken care of, and then they could make other purchases without making the other person upset. It helped them fight so much less!
Love seeing the budget tracker sheets with the recap and hopefully you'll do the same in the February recap but include the budget bill tracker sheets🙏
Hope you can get Ryen back, love seeing you both together😀
Congratulations on your baby and zoom x
Helpful advice to hear since I just got married in January! First time either of us has been married, and we were already sharing living expenses like our rent, utilities, etc. but we're verrrrry slowly figuring out how to join our finances in a way that makes sense for us haha
So happy for you and your family congratulations on being pregnant!! 🎉 I've been following you for a few years and I have always enjoyed your clear and precise budgeting style. I've learned so much!
Thank you
Congrats on the baby and new puppy! Also, I opted to not do pet insurance because it didn’t cover enough for me to think it was worth it nor does it cover preexisting conditions.
Also totally agree with you on setting up accounts when married. We do ours the same way.
My finances were a hot mess and I was stressed. Then I found the Budget Mom. I have my budget binder, calendar and expense tracker and piece of mind. Thank you!!!
Omg congratulations!!! So happy for you and your family!! ❤
Congratulations on the baby! Very exciting for your family!
Congratulations on your fabulous news! Hope all continues to go well xx
I am getting married for the 2nd time in June. Combining finances is scary and thankfully he and I are pretty much on the same page. I think whatever you and Chris agree upon is up to the two of you. I respect and support your decision. I love the idea of getting James a stitch fix. I hope I can see some of his likes and dislikes. LOL Glad to hear that Ryen is going to be joining via Zoom! Congrats on the baby. I wished you the same on Insta but that is so exciting. Your dreams are coming true..
I will definitely be sharing our stitch fix journey!
Congrats to you and Christopher! My husband and I have been married for 7 years and have used the joint account method you and your hubby are planning for. It's clean, no stress, and is like its own spending envelope! We use that account for his share of bills, joint fun expenses, and a joint emergency fund!
Thank you so much!
Congratulations!!🎉
Dear Miko, these are great news! Congratulations from Germany 😘
You're so organized. TFS 🧡
Congratulations!!!🎉🎉🎉
Congratulations!!!
I always love how animals can sense and have such empathy for a pregnant woman!
busy time of the year but that is awesome!
Awh congrats on the baby and puppy!!!
Congratulations for the new baby and the new puppy
This video has me thinking back to how money was handled in my past marriages. I'm so glad I'm with my current husband of nearly 30 years and all money has been joint from day one.
Thank you for being so transparent and helping so many people. How do you pay for things that HAVE to be paid for online with a credit or debit card? Since you are cash only. Although I am a long time follower, I can't find that information. Thanks!
Congratulations on your baby and puppy news 👶🐶🎉🎉💝💝
It might be because I'm new to your content and methods, but I'm confused why you would put a category in the red (be over) when you have the sinking funds for it already saved up. By the way, LOVED your book, and love your channel and I just put together my first finance/budget binder this weekend using your printables! Can't wait to purchase the workbook and planner for next year! :D
Congrats on the new baby!!!!
I don't use IG but I did have a feeling you were expecting by your face. Congratulations!!!!
Thank you so much for all you do. I have a house now because of your help. Now I'm am going to start investing and other things. You are so awesome.!
So amazing!!!!!! You are kicking butt!!!!
Congrats on baby!
So enjoy watching your video.
I started making a budget for my 16year as she has summer job.
So amazing!!!
Congratulations Miko! I'm so excited for you and your family! I'm using the BBP Excel and I was wondering if Ryen uses it and if we could see that in an upcoming budget recap.
First congrats on new upcoming baby!!! 🥳🥳🥳
Than I just want to add so glad to hear that it's completely ok to not have to merge your income with your partner. Was married before and the combined income just didn't work for me. Now with my new partner I plan on keeping it separate.
Congratulations Miko! 🎉🥳
I have 25000 in debt I want to get paid off, help,I need to figuer out your budget plan, I get paid every other week my husband weekly
So cool about your son's birthday and baby's due date! I actually have two cousins (sisters) that have the same birthday but are 10 years apart!
Congrats on the baby! Something I noticed in todays video is the cover you are using for your planner. Could you give a link on where you found it?
Me and my husband has been together for 20 yrs, married for 7 yrs. We never fought because of money and we have separate bank accounts. The most important is to have good communication and have the same financial goals for your family. What we do is we split all the expenses and savings between the 2 of us so that we won't forget any bills or sinking funds and we can still have enough money for personal fun money. If it ain't broken, no need to fix it. 😊
Congrats on your new baby ❤️
Congratulations on all your blessing. What is cover you are using for planner
Great video ♥️
Congratulations!!! God Bless💙
Thank you!
Congratulations!!🎉🍾 I’m due in august too 🥰💓💓💓
Such an important video!
Oh my gosh why do I always forget about the yearly spending overview by expense category? 🤣 I better open back up the front of my BBP planner haha
Congratulations to you and your husband 👍❤️🙏
Congrats! That is amazing. Baby.!!!!
Congratulations for the bump news. I wish you a healthy and happy pregnancy 🤰 🎉❤.
Can you provide links for your leather notebook cover and a video on how you put the discbound notebook together?
Pet insurance covers you though for legal fees in relation to if your dog bites or injuries someone and their property or if your dog causes a car accident or damage
I love your videos, thank you so much for sharing! When the baby is born will James and the baby have separate categories, or will you join them together into one category?
My oldest & youngest both had the same due date as well, but oldest was 3 weeks older and youngest was 2 weeks early..... they're 13yrs apart.
Probably a dumb question but I have no way to print the binder. So if I want it nice and pretty like this where would I go to print it?
😀💗Can u do a baby tracker and starter saving challenge for the new born
Congrats on the new baby!! Also, when you're calculating your investments, why would you include the "Savings Used" as well? You're not sending that money to invest, are you? 🤔
Hello, love your videos. I wonder how much to charge your partner when you own a house and they move in with you? How much is fair? (If home is paid and if home is not fully paid) thank you 😊
do you still sell the budget workbooks and the cash envelopes?
Congratulations 💗💙💛💗💙💛
Hello and congrats!! I just started watching your channel a few months ago and was concerned about your sudden lack of uploads…glad to hear all is well, just busy!
I’m not sure if you’ve covered it, but are you comfortable sharing your investment strategy? Im up to my eyeballs in debt right now, but once I’ve dug myself out at least a substantial amount I’d like to start an investment plan. What kinds of investments have you started and why? What is your hope for them? My plan is also to start a 529 for my kiddos but am hoping for some other long term strategies. Thank you!!!!
Congratulations on Baby!!! I’m an August baby to so maybe we will share a birthday 😂.
Love you videos. You have a calculation error in the difference in savings for budget vs actual.
Your work is amazing but my question to you is: do you ever get bored of doing this?
Hi, congratulations on the baby. Pleae, I'm not following the deposits into the cash expense tracker. Why is the Costco sinking fund a deposit, but the other cash spending is a withdrawal?
Sinking Funds are a deposit of cash savings because the money is coming back into the budget after it was initially removed as a sinking fund. Other cash spending is a withdrawal because the money has been spent and removed from the budget
LovesGoodStories thank you, please why is the cash expense tracker starting balance $200, but a lot more than that is spent?
Because money was withdrawn from the bank account to use for cash envelopes and deposited to the cash tracker…….that increases the balance. Depositing money from the sinking funds to your cash tracker increases the balance and then you spend the money…….it’s not that complicated
Don’t have a kid because it costs like $100,000 dollars from 0 to 18 years
*Fantastic video😊 regardless of the economic slump, I'm so happy I have been earning $ 40,000 returns from my portfolio income every 13days.*
I need someone like this man, I need the info to message and talk to him,I need to win.
How can I get to him please help
Congratulations on the pregnancy ❤My husband & I have been married for 25 years (this May) and we have always had separate finances & we have NEVER fought about money 😃. Its what works for us & I like it that way
I’m pregnant and due in June. Sadly I am on best rest and lost my income as o work as a child care provider. Lost about 50 pounds, PICC line, zofran pump and ivs fluids. I wish I could have a great pregnancy. None of my pregnancies have been great due to hyperemis gravidrum.
But with all that I’m so excited we pregnant together hehehehe!! It’s so cool ! I’m a august baby. Hopefully baby is born on my birthday.
My oldest is turning 10 this year too so I’m emotional hahaha
Hi Miko, which planner are you using? I went to purchase but I got confused. Thanks! @theBudgetmom
Congratulations!!!