In Today’s Episode

Eric and Brandon discuss the exciting world of budgeting and the effect it will have on your personal finance story.  The guys also examine some sample budgets, and review their pros and cons. 

 

What You’ll Get Out of Today’s Show

• Brandon shares his first experience with budgeting: his parents’ version of the envelope system. 

 

• The guys debunk some myths about budgeting that are commonly seen and heard.

 

• They cover budgeting in detail from what they are, to what is included in them.

 

• They demonstrate how budgeting allows you to take control of your finances, and set aside money for saving and investing. 

 

• Eric and Brandon discuss the importance of knowing where your money is going and tracking your spending. 

 

• The guys discuss the differences between essential and non-essential expenses

 

• Brandon highlights some simple ways to save money on your non-essential expenses

 

• Eric highlights how to save money on some essential expenses and discusses his two-dollar meal plan

 

• The guys explore some sample budgets and discuss the limitations of the 50/30/20 budget. 

 

• Eric and Brandon provide tips to beginning one of the most important steps in your financial journey

Links Mentioned in this Episode

ignitiontowealth.com/resources

ignitiontowealth.com

If You Want to Support Ignition to Wealth

• Sign up for our email list

 

• Subscribe to the podcast 

 

• Leave us a 5 star rating and written review