On Property Podcast

Simple Steps To Budget and Save Money IMMEDIATELY

03.29.2020 - By Ryan McLeanPlay

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https://www.youtube.com/watch?v=kVshm_1mY30

With everything that is happen in the world right now you may be finding you need to learn how to cut expenses and start to budget.

I've been through so many different budgets over the years, none of which worked, until I created this strategy for how to create an easy budget in 15-20 minutes.

In this video I'm going to show you how to create a budget and start saving money immediately.

Write Down All of Your Regular Expenses - 1:18

Calculate Your Expenses Based on Your Pay Cycle - 4:00

Take Your Income After Tax and Minus Regular Expenses, Can You Live Off What's Left? - 6:00

Look at What You Can Cut From Your Regular Expenses - 7:49

Set Up Your Budget and Automate Everything - 9:55

Automate Savings For Big Bills and Paying of Debt/Savings - 18:28

Look At It Daily and Do Weekly/Monthly Adjustments - 19:43

The Most Important Part: Now Focus on Making More Money!!! - 20:40

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The 2-Year Financial Freedom Strategy - TBA

Transcription:

Ryan 0:00with everything that's happening right now you may be finding yourself in a situation where you really need to cut expenses for your life and you need to learn how to budget and if you haven't really learned and mastered budgeting up to this point you might be frantically thinking oh my gosh what do i do and so in this episode i'm going to show you the simple steps that you can use to create a budget and to start saving money in your life right now i've tried so many different budgets over the years tried lots and lots of different strategies failed at all of them until i came to this way of budgeting which can be done in as quickly as 15 to 20 minutes and then you can automate a lot of it as well so you don't need to continually think about it so this simple budgeting strategy i have found really helpful in my life and i think you might find it helpful to any of you staying till the end of the video that's actually the most important part because once we've set up our budget once we're saving money that's not necessarily going to get us to where we want to be financially and to improve our lives so that is the most important point which we'll talk about at the end of the video so how do we actually go about creating a budget and what is the steps that i use so the first thing that i do is i grab a pen and a piece of paper and i sit down with a cup of tea like i've got right now with your spouse with your partner or you may want to do by yourself and the first step is to write down all of your regular expenses that you have in your life so this stage we're not looking at things like how much do i spend on coffee per week how much am i spending at the supermarket i get takeout every night because i'm a terrible cook how much should i spend on petrol etc those things i call discretionary expenses or living expenses and they fluctuate week to week and each week each day we get to make conscious decisions about those so every day if i go to the petrol pump i get to decide how much petrol am i going to put in my car today when i go to the grocery store i get to decide how many groceries am i going to buy when i'm at the coffee shop i get to decide am i going to buy a coffee and we're going to make tea and coffee from home so their discretionary expenses and we're going to do with them a bit later the first thing we want to do is grab our pen grab a piece of paper and write down all of our regular expenses those so things that happen recurring in your life so this is everything from your rent or mortg...

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