ONE Hack That Will Transform the Way You Budget
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- čas přidán 7. 04. 2024
- When it comes to budgeting, most people begin with their income and expenses, but that is NOT the best place to start.
In this video we explore how one, easy, quick shift can not only totally change the budgeting process, but also impact how well you ultimately stick to and succeed with your money plan. We give you examples along the way.
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We're Hope and Larry and we love practical frugality. We raised our four sons, debt-free, including paying cash for our home when our income was well under the national average. For tips on saving money, budgeting, paying off debt, and setting goals (while living with a spirit of joy and abundance), subscribe to us here on CZcams and visit us at our website and on social media.
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For all inquiries, please use this email: hope@underthemedian.com
Larry, Larry, Larry! A couple of years ago you recommended an LE flashlight which I bought. I've used it to locate remotes, eye glasses, and "ink pens" (as we say in The South). But this month my solid black cat was extremely ill, hiding from me, and even looking afraid of me. I knew he was in the enclosed garage where there are very few hiding spots. As a last resort I opened the hood of my 21 year old Camry, and spotted him in the engine. Without that flashlight he would have been impossible to see.
Hopefully you got him to the vet and he's doing better.
@@michelleraney3577, yes. He climbed down out of the engine, ran in the house and hid behind the sofa. Finally captured him and got him to the emergency vet for medication. He's fine now. Vets on the weekend are pricey. Good thing I'm frugal and have a budget item for just such events.
This is exactly why I use a zero based budget, I always know exactly where I am spending and saving every dollar I have.
I write everything down. All monthly expenses no matter how small. Stick to a grocery list. Meal plan saves you money
Great reminder. My neighbor taught me how to just add the details on my cellphone!
Hope, your haircut is so cute!
Knowledge is good but feel in my old age I have gained one of my goals in life, "wisdom". People should always seek to use good judgement, vote for the right person, don't hang around a bad element, spend getting back "value", stuff you really need, make valued friends, stay in regular contact with family, friends & business you use regularly. I never got rich, but I got wise.
Years ago someone told me ‘run your (financial) life like a business’. It was great advice and made me look at my finances in a different way.
Our family changed dramatically when we noticed how wealthy people actually raise their children and it is different than upper middle class and it is different than middle class and of course decidedly different for people who fall under the middle class.. Visits to PTAs in wealthy school district was eye opening. Studies in Human Geography results in better opportunities than a physics degree..money spent on travel makes for networking possibilities..emphasis on nutritional information..better to have lunch at a place frequented by MIT students ..even if you cannot attend that school..learning the "language" of higher thinking is an advantage. (If you cannot live in a better neighborhood..go to church there, grocerystore shop there...browse in the vintage stores on the weekends)
Omg I kept laughing out loud as Hope was counting all the analogies….
Was thinking today how many things we are doing right with money. Not wasting water, using less where we can, keeping prioties with sinking funds, combining trips to save gas, etc. It helps sometimes for us to see what we are saving and how good we are doing. Always room for improvement.
I went off budget this last week to take advantage of some 99 cent only store purchases for my garden....and boy howdy did it feel good to let my hair down! In February I spent less than $300 on purchases (gas, food, garden, phone bill) other than paying my utility bills and I don't know the tally yet for March. My purchases are usually around the $500 to $600 mark, but I really clamped down to make my goal of putting up some CD money. However, it felt great to just buy whatever I wanted without thinking about a budget for just a few days after meeting the CD. Now, I had my mad days, I will buckle down and save for the July CD goal. It sure did feel good though.
The other day, I found a torn Canna flower bag at Lowes, I asked at checkout they said yes it would be 50% off. Watched their ad's, got Miricle Grow Soil for 50% off. Going back for half off mulch.
I did a business studies course, many years ago. I learnt how the professional folk do finances and adopted it for my household. Folks are always wondering how i do so much on so little. Mind you that was in the days where a balanced budget was a thing of pride in the business world, before it became fashionable to over spend, over borrow amd dodge your taxes. These types of businesses are beginning to have to pay for their foolishness!
My grocery budget was $75, when inflation went crazy I dropped that to $50. Relied more on my garden. I dropped some luxury items like tropical foods like avocado, papaya, etc.
I maintained my savings but used that $25 weekly for home repair.
Can you explain the $25 weekly home repair”
@@mizzmiami3242I would assume they have an account for repairs they put $25 into.
Retired at 44. I lived in a parked RV for 5 years to save money. People always said, you make money, why are you doing that? I am retired now, that's why!
Yes, yes, yes on budgetary line item caps! This includes "savings". What are you saving for? Are you saving enough, too much, and what will your savings fund? If/ when you need your savings how soon will you need it; a day, a week, upto a month? This helps you decide what type of an account you want to park your savings and how much interest or passive income you cam earn on it too. Most often we have had a "puddle" or lump sum of savings within a single account or range of accounts. But within that puddle so much is intended for X, so much for Y, and so on. We can rest easier knowing we can cover specific types of expenses while still having the sum should something arrise in the inbetween time.
I love this video. It’s the best I have ever viewed on finances and budgeting. Coming from a business background, I have always managed my financial affairs as a business. Great to hear someone else discussing it as such.
I have a savings goal. I like that to be my starting point.
If you come to Canada, be sure to stop and explain this to the PM, as he said the budget balances itself.
Well, sometimes politicians don't understand practicalities. LOL!
Completely agree, we are all CEOs of our financial heath. 😊
Hope, I like your haircut! You guys are a riot!
Thanks for all you do!
What a great upbeat, informative and fun video. Your playful banter made me smile 😀
The analogy thing cracked me up😂😂
Hope, your haircut looks amazing!! :) ❤
Love this. A must watch for everyone. I would put getting everyone on board as a top priority as well as something will happen, it just will, it's life. You have to have a plan b and a plan c.
I love this approach: "thinking like a CEO". Very inspiring!
Hope, it looks like your shoulder is still somewhat frozen. Are you still doing Physical Therapy? One of the exercises that helped me when I dislocated and broke my shoulder was ‘walking’ my arm up the wall with my fingertips. Stand facing the wall, close to the wall, not quite an arm lengths distance from the wall. Then with your injured arm gradually ‘walk’ it up the wall with your fingertips. Do that multiple times a day. Using your fingers to ‘walk’ up the wall will give your arm enough support to make it go a bit further up the wall stretching your shoulder muscles a bit. Ask your physical therapist to show you.
Good advice. Same here. Hopefully she’s being the CEO of her shoulder and doubling down on her physical therapy for a good ROI.
Hi Larry and Hope . I'm Holly fom Michigan with 3 grown sons. Love watching the 2xof yu.😊
Knowledge is power! 😊
Thank you for another wonderful video!!
Could you please do a video about core beliefs which contribute to our relationship with money and frugal living? Thank you!
Lol Larry needs his own little book of analogies. "Frugal Wisdoms"
Great tips and analogies, Hope and Larry! The CEO perspective truly does apply to personal finance! Blessings to you and your family ❤
What an interesting perspective
So happy to see the Prioritizing arms are both working again ❤
With this many cats and the hood strays/raccoons etc and the “in home rentals” it’s all had to be run like a biz. Lol. And that was just for my sheer sanity. Lol.
The only thing I would say about the single life tho is that sanity trumps “saving.” You simply have to get out more so you don’t wind up feeling isolated or cut off from all of society. Don’t have to always spend a lot but getting out enough for me is essential.
Hope, your hair always looks so beautiful. The cut is niiiiice!
Your haircut looks great, Hope!
Never got a notice, just got up after watching eclipse.
Hi I learn a lot from your videos and wish I'd known you when I was younger and careless with my money.
You spoke about the Importance of continuing to learn in order to plan effectively. That reminded me of a series of YT videos featuring a brilliant young woman named Whitney Webb. One of the topics she warns about is the efforts to digitize banking. I'm not sure about how this will work but according to Whitney there will be a loss of privacy for average people and many other negatives if this comes about.
I would be very interested in your analysis of this new thing and perhaps you could provide some guidance for us your followers.
Thanks for your openness and willingness to share your wisdom.❤
Hahaha I would use the 99 cent before but now I’ve been watching you guys and PP as well. it would be Kroger and 99
😂omg what you 2 are saying I like it 😂 so sounds like me at times
Thank you for such good budgeting tips!
Good perspective, thank you!
You two cheer me up every time. (I learn something, too.) Counting Larry's analogies. Clever!
thank you for what you say is very useful and can be implemented
CEO, not for me, I always worked for a living.
This was a great video, informative yet laugh out loud funny!! Thanks
Looking at opening picture from a food video, they place parchment paper down on George Foreman type grill & meat on paper to reduce cleaning, great idea.
Read 2 money 📚!
Your money or your life and the automatic millionaire (david bach). Pay yourself first, live below your means, learn to cook, learn the difference between a want and a need.
Ready and waiting in Michigan😊❤❤❤❤❤
Hi fellow Michigan
Great video guys! I wrote a lot of this stuff on Word. Also, I been meaning to tell you Hope I love your new look. Also, Larry never change on forming analogies because they are a fun way to view something from a different angle.
I love, love you short hair Hope!! So pretty!! 😍😍😍
Your hair looks super cute❤
Hope, your hair and shirt are cute!
Your hair and nails look great Hope ❤
Hey Hope & Larry!!
Tennessee Girl in Indiana
I'm rudderless. Just save and be as frugal as possible, it's incredible how much I'm spending on groceries. It's not the most affordable but health dictates I don't just eat the cheapest stuff. I want money for the massive changes, hurricane destruction, complaining neighbors same thing they can take your house.
Oh my, Larry said a four-letter word, get the bar of soap out Hope. .
😂😅 I still remember the taste of the soap when I was five! Wish I knew what I said to be put up on the counter.
Totally agree on the bottled water. Especially when the same water comes out of the tap.
No dishwasher, no clothes dryer; those are the biggest waste of electricity in a home. Hand-washing dishes is much faster and clothes hung out to dry smell so much better.
No cable or satellite dish. Big waste of money when there is so much free stuff on the internet. Or try reading a book for a change.
Y’all are hilarious!
I laughed every time you said a good CEO we all found out that the corporations run off of borrowed money. The interest rates went sky high and they can't have that, so they raised all the prices. They don't really have a "budget" to follow, they borrow money to pay their employee's then go pay off the banks when the bill comes in. Big corporations don't run a budget oriented company. They find out what the bill is and then go borrow the money to pay it. It's why they raised the prices so high, they learned that when the market is volatile like it is now they need to keep cash on hand. Its why the corporations are stacking the cash, people get so outraged because there making record profits. They are going to need those profits put back just like we have an emergency fund. So the companies are gouging us to pay more and we are falling for it. There should be no spending except on absolute necessities or this will continue. I am not budgeting anymore, I don't have but the minimum coming in at the moment. We are not spending anything, just paying the bills. I am going grocery shopping for potatoes' tomorrow and walking right out of the store. The price went up in our region to 8 pounds for 5.00, that is excessive. All the fresh fruits and veggies have doubled since St Patrick's day. My feet are so swollen due to all the processed foods, I will be eating tater's for a week to get them back down. None, of the governments want to admit we are in a world wide recession, it won't matter who is in charge of what government. Unless, they break up the large corporations and stop letting them control us this isn't going to end.
Well said
Amen!
Hope, I love your new hairstyle ❤
Hope I love your hair cut and those sassy red nails!
your hair looks good xoxoxoxox
Goals drive your budget. Have a nice day.
While under extreme duress after a serious car accident, being injured and on several different medications, I made a silly decision to buy a new car. I put 20K down and still have a large monthly payment. I don't even love-love the car. What would you do in this situation? TIA
👍
😊
It is much like Dave Ramsey personality.. Ken Coleman's Proximity Principal
I have listened to eleven mystery "Cat Who" books off CZcams for free.
Me,too.
Read the whole series.
@@rochellethundercloud346 Started reading all of the books in the 90's when I owned my used bookstore. Nice thing about audio books, they don't clutter the house.
I loved listening to the series on long car rides. Good thing I had 2 weeks to check the CDs out from the library. (Always loved when George Guidall narrated).
I was told once that celebrities who have left Hollywood long ago, so their budget, they stay home the first half of the day on the 26th. Pay everything left and housing bills on 26th. Zero out budget. Any budget your on that day even envelope system. Reset for the new month and no spending until 1st. All bills are paid and savings is paid and the extras. No spend until 1st.
???
Would like your take on making money Multilevel marketing
It’s a no, I’m guessing.
The ebook your talking about which you say is free is 27$.
The eBook that I talked about: "10 Ways to Radically Reduce Expenses" is free. Here's the link: www.subscribepage.com/radically-reduce-expenses
Hi,all
Larry and Hope, do you have a date when you turn your furnace off?
We like to aim for April 15th. But, honestly, the cold is hanging on a bit this year. I'm not sure we'll make it. There have been a few days when it was entirely possible, but then the temperatures dipped again (even snow a couple of weeks ago). So, we're crossing our fingers this year.
Opps my time was off..
Analogies are good - but that haircut: 100%.