From Middle Class to Millions

The Budgeting and Saving Basics You Need In This Economy


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In this episode, Shannon dives deep into the foundations of budgeting and saving, two key components of building lasting wealth. If the thought of budgeting makes you cringe, this episode will change your perspective. Shannon explains how budgeting isn't about limiting your fun, but about providing a structure that allows you to make intentional choices with your money, creating more abundance for your future.

**What You'll Learn in This Episode:**

- **The True Purpose of Budgeting**: How budgeting is a tool for freedom, not restriction, and why it's essential in building wealth, especially for those transitioning from middle class to millionaire status.

- **The 3-Part Budgeting Process**: Learn why budgeting is not just a list of bills but a strategic plan for your financial future. Shannon breaks down how to plan, track, and evaluate your spending each month.

- **How to Track Your Money Effectively**: Discover how simple tracking can reveal surprising spending habits that are draining your finances without you even realizing it.

- **How to Reallocate Money for Wealth Building**: Get actionable tips on how to redirect funds from areas where you're spending mindlessly to investments that align with your long-term goals.

- **The Importance of Savings**: Learn how to start saving for both short-term goals (like a new car or vacation) and long-term wealth building. Shannon shares practical advice on automating your savings and the concept of "paying yourself first."

- **When to Reassess Your Budget**: Learn the key life moments, such as debt repayment or major expenses (like daycare or tuition), when it's essential to reintroduce or update your budget to maximize your financial control.

**Key Takeaways**:

- Budgeting is about awareness, not deprivation.

- Saving and budgeting are the first steps in your wealth-building journey.

- Automating savings and paying yourself first is a game-changer for consistent financial growth.

If you're ready to move from middle class to millions, mastering budgeting and saving is your first big step! Whether you're just starting or looking to refine your financial strategy, this episode offers practical tools to take control of your money.

**Resources Mentioned**:

- **"I Want to Be Debt-Free" Group Program** – If you're looking to tackle high-interest debt, Shannon's group program is your first step in your wealth-building journey.

- **Automating Your Savings** – Learn about tools like "Keep the Change" that make saving money effortless.

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From Middle Class to MillionsBy Shannon Brome-Ward