23 thoughts on “A Conversation About Budgeting ft. The Financial Diet

  1. I inspired my mom lately because I finally got my shit together enough to have a small emergency fund. She doesn't have one and she's gonna start. Never too late to start adulting 🙂

  2. You can get a car quite affordably these days if you buy it via Finance, or just getting a used car with low insurance costs. In terms of vacation vs car, I would prioritise the car and just go on a cheap package vacation. Having a car is essential for a lot of things unless you live in a big city with a great train or bus system, while vacations seem much more discretionary.

  3. If you get to "live at home" as a solution to not paying rent, then you're privileged. I went to high school with kids who had to work to help their families pay bills.

  4. Very helpful in changing my mindset regarding a budget! Love the collaboration!
    -Financial Freedom For Millennials Channel
    Subscriber Goal 119/250

  5. Two of the best pieces of financial advice I ever got from my parents was to 1) Always have a physical $20 bill in your wallet at all times for any daily emergencies, and 2) Always have at least $1,000 stowed away in a bank account for automobile related emergencies.

  6. My #1 suggestion when it comes to budgeting, saving, and investing is to "pay yourself first" before you pay your bills. The first 10% of everything you make goes into savings (and later transitioned to long-term savings or investment). Of course at first you may frequently not be able to afford that and end up pulling it right back out of savings to pay bills, but do it anyway! Getting into the habit of putting away that first 10% is very important and will serve you well when you get to the point where you can actually keep it saved.

  7. I use budgeting software that makes it really easy to see how much I've got available, what I've previously spent on things and schedule future payments (in and out) so I'm not surprised by bills and know when I can't cover the rent. My income is low enough that every dollar counts, and I find budgeting allows me the freedom to spend money (or save for larger goals) without being stressed about money all the time.

  8. There are 3 channels I make sure to check pretty much weekly how to adult, the financial diet and hanging with lee tv

  9. Budgeting is crucial to being an adult.
    It got me on the right track to get out of debt and start saving for retirement.
    Do yourself a favor and get on a monthly, written budget.

  10. I just wrecked my truck tonight when a deer jumped out in front of me and smashed my front end. Thanks to budgeting and direct depositing a portion of every paycheck into a savings account that I pretend isn't there when I want to buy frivolous things I have enough $ to pay cash for a new GMC Sierra Denali. But since I am not gullible enough to buy a new or luxury vehicle and I am also trying to buy a better house I will try to find a truck around the $10000 range. I bought my 2010 Colorado in 2013 with 90000 miles on it for $9300, it has 180000 on it now. Thanks to people who don't budget and believe used car salesmen trying to sell them more vehicle than they can afford it's all but impossible to find trucks less than ten years old with less than 100000 miles for less than $10000. When you wonder why things are so expensive these days don't blame rich people, they didn't get rich by throwing away their hard earned money. Blame people who were willing to pay way too much for homes, vehicles, and rent because they didn't really know how poor they were because they didn't budget.

  11. $400 for "other expenses"? HAHAHAHAHAHAHAHA! Health insurance, car insurance, and phone will eat the majority of that right off the bat. If you don't want to eat pasta and ramen all the time, you're gonna spend at least $200 on groceries. Gas? Plan to fill up 3+ times a month. Not sure if you're considering internet and cable to be utilities (some do, I don't), but that's another $100+ a month. Got a girlfriend? Hope you don't plan on taking her out anywhere. Hope you don't have car trouble ever. Hope you don't have any medical expenses. Hope you don't have incidentals. Hope you don't buy Christmas presents for your friends / family. Hope you don't have any hobbies. You can't do SHIT on $400 a month!

  12. I understand budgeting is good but I feel like every time I listen to something from the Financial Diet it’s very bourgeois or capitalistic. They constantly push doing side jobs and extra work as a solution for everything.

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