Episode 8: Create A Budget Today, Change Your Life!

11/13/24 • 18 min

In the eighth episode of the Melby Money Show, host Shaun Melby underscores the critical role of budgeting in achieving financial freedom and stability. Shaun explains that budgeting is not about restriction but empowerment, providing a solid foundation for meeting financial goals such as home buying and retirement. He also discusses the concept of a 'soft landing' in the economy, referencing significant events of 2022 and examining current economic conditions and investment opportunities.

00:00 Welcome to the Melby Money Show

00:45 The Importance of Budgeting

01:51 Current Events: Economic Soft Landing

02:26 Understanding the Yield Curve

04:52 Implications of a Soft Landing

07:12 Financial Homework and Strategies

07:38 Sponsor Message: Asset Allocation

08:24 Adapting Your Asset Allocation

08:58 The Foundation of Your Finances: Budgeting

09:42 Transforming Day-to-Day Life with a Budget

10:43 Overcoming Budgeting Roadblocks

12:21 Creating a Budget That Works for You

14:55 The Impact of Budgeting on Investments

15:46 Adjusting Your Budget Over Time

16:20 Conclusion and Farewell

This podcast is for informational and educational purposes only. This podcast is not financial advice.

00:00 Welcome to the Melby Money Show

00:45 The Importance of Budgeting

01:51 Current Events: Economic Soft Landing

02:26 Understanding the Yield Curve

04:52 Implications of a Soft Landing

07:12 Financial Homework and Strategies

07:38 Sponsor Message: Asset Allocation

08:24 Adapting Your Asset Allocation

08:58 The Foundation of Your Finances: Budgeting

09:42 Transforming Day-to-Day Life with a Budget

10:43 Overcoming Budgeting Roadblocks

12:21 Creating a Budget That Works for You

14:55 The Impact of Budgeting on Investments

15:46 Adjusting Your Budget Over Time

16:20 Conclusion and Farewell

This podcast is for informational and educational purposes only. This podcast is not financial advice.

Previous Episode

Episode 7: How To Have $1,000,000 at 65 - A Roadmap For Achieving Long-Term Financial Goals

In the seventh episode of the Melby Money Show, host Shaun Melby discusses practical strategies for long-term investing with the goal of reaching a million dollars by the age of 65. The episode begins with an overview of the upcoming 2024 presidential election and its potential impact on personal finances, highlighting key differences in economic policies of Donald Trump and Kamala Harris. Shaun then guides listeners through essential financial steps to secure their future, regardless of election outcomes. Key topics covered include the importance of early saving, the magic of compound interest, and actionable tips for different life stages. Additionally, Shaun emphasizes maintaining a diversified portfolio, preparing for potential changes in tax laws, and the long-term benefits of disciplined financial habits. Sponsored by APR, the episode offers insights into understanding the true cost of borrowing. Listeners are encouraged to start their wealth-building journey today with clear, manageable steps.
00:00 Introduction to the Melby Money Show
01:04 Current Events: 2024 Presidential Election and Your Finances
02:24 Financial Tips for Election Season
04:43 Understanding APR: The True Cost of Borrowing
05:52 Achieving a Million Dollars by Age 65
06:36 The Power of Starting Early
09:13 Saving Strategies for Different Life Stages
10:53 Practical Tips to Supercharge Your Savings
11:52 Conclusion and Final Thoughts

This podcast is for informational and educational purposes only. This podcast is not financial advice.

Next Episode

Episode 9: Stocks vs Bonds: Boost Your Investment IQ

In the ninth episode of the Melby Money Show, host Shaun Melby demystifies the world of investing, focusing on the fundamental differences between stocks and bonds. He explains how a balanced portfolio of these investments can boost your financial future. The episode covers the latest economic updates, including GDP growth and inflation trends, and provides actionable advice on how to get started with investing. Listeners will also learn about capital gains and how to make informed financial decisions. Join Shaun as he breaks down financial concepts in an engaging and easy-to-understand way.
00:00 Introduction to the Melby Money Show
00:45 The Power of Early Investing
01:01 Understanding Stocks and Bonds
01:36 Current Economic Events
02:18 Impact of GDP on Personal Finance
03:13 Inflation and Its Effects
03:57 Practical Financial Advice
05:02 Sponsor Message: Capital Gains
06:13 Stocks vs. Bonds: A Deep Dive
10:38 Getting Started with Investing
12:37 Conclusion and Next Steps

This podcast is for informational and educational purposes only. This podcast is not financial advice.

Melby Money Show - Episode 8: Create A Budget Today, Change Your Life!

Transcript

Episode 8: Create A Budget Today, Change Your Life!

[00:00:00] Welcome to the eighth episode of the Melby Money Show. I'm your host, Shaun Melby. Did you know that 65% of Americans have no idea how much they spent last month? That's right. Two thirds of us are basically financial free spirits. Letting our money flow, wherever the wind takes it. But here's the million dollar question. Is that really the best way to build wealth and achieve our dreams. I think you know the answer. In today