27 My Formula for Writing a Budget that Works

10/11/16 • 24 min

The American DayDream is brought to you by: www.hustlesmarterbootcamp.com/earlyaccess

“To whom much is given, much is required.”

I never wrote a budget when I was single. Not that I shouldn’t have- it’s just that it was a whole lot simpler when it was just myself making decisions...

I lived in the city, drove a new mini, didn’t blow too much money on weekend trips, fancy dinners or booze. I would pay my regular bills and throw everything extra at debt. And I was able to pay off $40,000 of debt in 9 months with the help of my side hustle.

Things get more complicated with marriage. You merge incomes, spending habits, priorities...

James and I have always been wide-open books with each other when talking about money. It took him a little longer to embrace the value of debt freedom, and it took me awhile to understand the incessant need to upgrade to first class- but beyond that, we’ve always been quite on par with our thinking and long-term vision.

After being married for a year and making virtually no dent on the $55,000 of back taxes we owed, I decided to sign us up for Dave Ramsey’s Financial Peace University with our church as well as commit to AdvoCare’s Debtbuster program- the two really compliment each other.

We only went to 2 of the 7 small group meeting for FPU- not because the curriculum wasn’t valuable- it’s just that it was in Bothell, on a Thursday, during December, at 7pm. And we lived in downtown Seattle. Anyone in the greater Seattle area knows this is a death sentence for joy. It’s rare that I quit anything so this is really saying something about the traffic where we come from.

Regardless, I did apply Dave’s message about budgeting. So some of what I’m teaching here is a direct result of what he teaches, and some is what I have learned along the way.

I believe writing a monthly budget is CRUCIAL for hitting a major financial goal- whether that be debt freedom, saving for a down payment on a home, or funding a dream trip. (More on funding a big dream HERE)

Listen to this week’s episode for tips on how to write a budget that works!

The American DayDream is brought to you by: www.hustlesmarterbootcamp.com/earlyaccess

“To whom much is given, much is required.”

I never wrote a budget when I was single. Not that I shouldn’t have- it’s just that it was a whole lot simpler when it was just myself making decisions...

Things get more complicated with marriage. You merge incomes, spending habits, priorities...

Regardless, I did apply Dave’s message about budgeting. So some of what I’m teaching here is a direct result of what he teaches, and some is what I have learned along the way.

Listen to this week’s episode for tips on how to write a budget that works!

Previous Episode

26 How to fund a BIG dream (& how we are traveling the world!)

The American DayDream is brought to you by: www.hustlesmarterbootcamp.com/earlyaccess

“A big dream is beyond your human capability to accomplish.”

When you tell people you are traveling the world their first thought is usually, “Wow. HOW are you doing that?!”

Putting your belongings in storage to go on extended travel is nothing novel...lots of people do it. My husband has dreamed of it for years and years- since he read “Vagabonding” and “The Four Hour Workweek”.

Me? Wasn’t a dire dream of mine but I DO dream of inspiring people to go after the tugs on their heart to be more, experience more, live more. And, hey, I don’t mind the incredible time with my hubs and I sure am getting used to this #laptoplifestyle.

I knew we needed a plan to make it happen. I wanted to see my Jamesy’s big dream come alive.

And I also knew...we aren’t the backpacking, hostel-saying type. I wish I was more down to earth but...just not happening.

So, I started mapping it out. Here is what it looked like:

1. Put life behind the vision.

2. Pray on it.

3. Make debt freedom a priority.

4. Budget for before, during, after. And worst case scenarios.

5. Walk out in faith.

Of course- easier said than done. You must remain faithful, diligent, persistent and consistent. Temptation and distractions and doubt will creep in and try to steal you from your dreams.

Not you. Not this time. #NoRegrets

What is YOUR big dream? I can help you master your mindset and create a plan to fund that dream with your side-hustle. Just register here for more info: www.hustlesmarterbootcamp.com/earlyaccess

Next Episode

28 You don’t need time to retire, you need money (+ 3 ideas for additional income streams)

The American DayDream is brought to you by: www.hustlesmarterbootcamp.com/earlyaccess

You may be one of the rare few born into wealth, found yourself a sugar daddy/mama, or bought Apple stock in the 90s. But if you AREN’T- and you love the idea of living a freedom-based lifestyle earlier than 72 years old- you’ve gotta listen to my message today.

You see, through the school system and the generations before us, we have been taught to follow a predictable pathway for success: get straight As in high school and be the varsity captain, go to a good college and get a respectable career, get married and have babies, go back to school to get a raise and more letters after your name, cross fingers and hope to retire by age 65.

This just never sounded appealing to me. I dreamed of waking up to the birds, not to an alarm clock. I dreamed of never having to check the bank account before making a decision. I dreamed of working 20 hours/week and earning 7 figures.

I knew the traditional route would never get me where I wanted to go.

On today’s podcast I walk you through the pros/cons of the three major options for adding an additional income stream.

Want more guidance on building your side-hustle? Be sure to sign up to be first in line with my #HustleSmarter Bootcamp opens doors for registration! www.hustlesmarterbootcamp.com/earlyaccess