2710: The Balanced Money Formula by JD Roth of Get Rich Slowly on Personal Finance Habits
Discover all of the podcasts in our network, search for specific episodes, get the Optimal Living Daily workbook, and learn more at: OLDPodcast.com.\nEpisode 2710:\nJD Roth of GetRichSlowly.org introduces the Balanced Money Formula by Elizabeth Warren and Amelia Tyagi, providing an innovative approach to managing personal finances without a traditional budget. Roth explores how simplifying budgeting into three categories - Needs, Wants, and Savings - can help achieve financial equilibrium and reduce stress about money management.\nRead along with the original article(s) here: https://www.getrichslowly.org/the-balanced-money-formula/\nQuotes to ponder:\n"When your money is in balance, you always have enough to pay your bills, have some fun, and save for your dreams. And here is the best part of all. Once your money is in balance, you can stop worrying about it."\n\u201cYou can spend your Wants money on anything that strikes your fancy, so long as you stay within 30% of your income.\u201d\n\u201cYou certainly won't get into trouble spending like this on Wants. Even so, you should ask yourself - are you making enough room for fun?\u201d\nEpisode references:\nAll Your Worth: The Ultimate Lifetime Money Plan by Elizabeth Warren and Amelia Tyagi: https://www.amazon.com/All-Your-Worth-Ultimate-Lifetime/dp/0743269888\nLearn more about your ad choices. Visit megaphone.fm/adchoices