66. Making Your Own Rules for Budgeting with Jessica

10/21/24 • 44 min

Are there rules to budgeting? And if there are, do you have to follow them? In this first episode back after my summer break, I have a wonderful conversation with Jessica who shares her personal journey managing finances for her rural Michigan family of five. Jessica dives into the pros and cons she has found in using budgeting tools like EveryDollar and YNAB and why budgeting by pay period has led to more rational spending behaviors without being overwhelmed. We also dive into the importance of teaching kids about financial responsibility and incorporating budgeting as a seamless part of daily life.

Get started with pay period budgeting today for just $9! The Debt Free Mom Mini Course + Template will help you take your first steps toward managing your home finances with confidence. Get it today at debtfreemom.co/template

Do you have a money question that you’d like to talk about with Carly? Do you have a story of navigating a tricky financial situation? We’d love to have you on the Debt Free Mom Podcast! Fill out the guest application at dfmpodcast.com.

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Previous Episode

Quick Update on the DFM Podcast Summer Schedule

We're going to be taking a break from putting out new episodes for a little bit as we slow down on a few things and enjoy the rest of our family's summer break. You might see a replay of some of my favorite episodes here and there, but we're hitting pause with new episodes until the fall.

If you have ideas for what you would like to hear from this show in our next season, send me an email at [email protected] with the subject line "podcast" and let me know what you think.

Enjoy your summer, and we'll be back in the fall with more episodes of the Debt Free Mom podcast!

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Next Episode

67 Using Your Checking Account as Waiting Room, Not a Vault with Stacie

Join us in this episode of the Debt Free Mom Podcast as Stacie returns to share her journey of switching from monthly to bi-weekly budgeting. We dive into the challenges and benefits of aligning budget schedules with different pay periods, managing increased incomes, and strategies for forecasting expenses accurately. She also talks with me about practical tips for utilizing savings accounts, handling car insurance payments, and setting up effective budgeting templates. Get insights on the psychological impact of budgeting experiments, involving partners in financial planning, and balancing important financial goals while enjoying life's moments. Whether you're dealing with variable incomes, credit card dynamics, or just starting your budgeting journey, this conversation with Stacie offers some valuable advice.

You can listen to my previous conversation with Stacie all the way back in episode 9 - Preparing Your Budget for Variable Income with Stacie

00:38 Switching to a New Budget Tool

00:55 The Learning Curve of Budgeting by Pay Period

01:43 Benefits of Budgeting by Pay Period

01:50 Managing Multiple Income Streams

02:31 Adjusting to Bi-Weekly Budgeting

07:29 Handling Variable Expenses

12:03 Using Checking Accounts as Waiting Rooms

16:08 Collaborative Budgeting with Your Partner

20:10 Understanding the Learning Curve

20:44 Transitioning to a New Budget Template

21:14 Long-Term Financial Planning