4 Steps on How to Implement a Budget Plan So You Can Be Financially Secure
\u201cIt doesn\u2019t matter how much money you make, it\u2019s how much you keep\u201d - B.I.G. Dreamz
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Listen in as B.I.G Dreamz, J Dragon, and T Rex lay out why budgeting is important. Tune in to discover how to implement a budget plan that will allow you to be in control of your finances and will shift the way that you speak about money. \xa0\xa0
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Join in the conversation to discover:
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- Why is budgeting important? Dreamz, who works in the financial industry, shares how he wants you, the listeners, to win [03:49]
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- J Dragon tells about the poor spending habits he experienced while growing up [04:32]
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- T Rex shares about the scarcity mindset he had growing up and what he saw when he moved to America [05:18]
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- Dreams breaks down his financial journey and where it all started for him [06:33]
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- Step One: Which part of your budget is prepared first? [07:41]
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- The one thing that most people are spending way too much money on [08:49]
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- This is one of the first things you need to do when preparing your budget plan [10:03]
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- T Rex shares what motivates him to stay in budget [10:54]
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- Hear how J Dragons perspective drastically changed about finances after he got married [12:03]
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- Some advice for men who are in relationships [15:59]
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- Budget like a pro: What is the 50-30-20 method and how can it help you with your budgeting? [18:25]
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- Net and gross income\u2026 what\u2019s the difference? [19:58]
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- The second step to successfully implementing the 50-30-20 method? \xa0[20:49]
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- Where do groceries fit into your budgeting plan? [21:14]
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- J Dragon discovers the importance of budgeting \xa0[24:48]
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- What is the third step and how will this change the way you manage and prepare your budget? [28:16]
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- What are the benefits of doing a bi-weekly budget and what is stress spending? [30:15]
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- Where does fun money fit into your budget? [32:41]
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- How do you organize your savings account? [34:58]
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- The importance of separating your money [38:21]
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- A recap of how to prepare your budget: Step four [41:31]
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- What does it mean to pay yourself in your budget plan? [43:47]
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- The Experiment of the Day to help you budget like a pro [45:45]
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