FM 005: How To Budget Your Way To Wealth with Jesse Mecham

Your budget is the foundation of your wealth plan. In fact, it's so important it's the cornerstone.

But most people don't understand budgeting done right.

If you  think budgets are about sacrifice and doing without then listen carefully because nothing could be further from the truth.

In this 5th episode of the FinancialMentor podcast Jesse Mecham from “You Need A Budget” explains the key insights he has learned about how to make the budgeting process work for you.

This may sound like a boring subject to many, but it's not. It stands as the cornerstone of financial freedom and wealth building because of two simple yet essential equations:

* The first rule of wealth building is you must spend less than you earn and invest the difference wisely. Budgeting done right is how you make that happen without sacrifice or pain.

* Secondly, the amount of money you need to be financially independent is 25-33 times your annual spending budget. Again, the lynchpin is your budget.

* In other words, your budget determines your savings rate and the amount of assets you need to support your spending level. Obviously, it is a big enough deal to merit listening to the recording.

If you care about your financial security then you absolutely must master the budget concepts covered in this podcast.

In this episode you will discover:

* Why budgeting has nothing to do with restriction and sacrifice.

* An easy way for the 80% of the population that lives month-to-month to break the vicious cycle and reduce stress.

* Why your true spending needs literally determine your wealth and the time it takes to become financially independent.

* Why your money and your life are the same thing in more ways than you realize.

* How “what you track is what you get” can lead you to greater wealth.

* How a proactive approach to budgeting actually gives you more freedom and happiness for the same dollars.

* The surprising thinking process that is the cancerous root behind all credit card debt.

* What it means to give every dollar a job.

* How a boring step in the budgeting process can make your inevitable financial setbacks less painful.

* Why it is smart to NOT stick to your budget (the answer may surprise you!).

* How to make an unwilling spouse fall in love with budgeting.

* The unexpected role your budget will play in your goal to achieve financial freedom.

* The fool-proof way to figure out how much you really need to spend to be happy.

Resources and Links Mentioned in this Session Include:

* Jesse's site to learn more about his software and educational programs is http://YouNeedABudget.Com

* The link above is an affiliate link and should be used if you just want to learn more; however, it will not give you the 30% discount Jesse offered in the podcast because that discount was for a limited time. However, I was able to negotiate a 10% discount and my offer for the free advanced training on budgeting is still valid.