Budgeting For Beginners | The Only Budgeting Method You Need To Worry About!
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- Опубліковано 20 чер 2024
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The Only Budgeting Method You Need To Worry About!
Today we’re talking about a gross 6 letter word that most people hate using. Nope, not moist. That’s 5 letters. I’m talking about a B-U-D-G-E-T. A budget.
Link:
How To Budget An Irregular Income: www.ramseysolutions.com/budge...
How to Determine Budget Percentages: www.ramseysolutions.com/budge...
George Kamel is a personal finance expert and co-host of The Ramsey Show. Following Ramsey’s proven money plan, George went from negative net worth to a millionaire in under 10 years. His goal is to help people spend less, save more, and avoid money traps so they can live a life with more margin, options and freedom.
This channel will simplify complex money topics, bust money myths with actual facts, and debunk the stupid financial advice you're seeing in your social media feed. All with a healthy dose of pop culture, humor, and snark.
Your video editor needs a raise.
I’m dying at all the inserted clips
That first clip LMAO
📠
The music choices are great too!
The bacon bit got me!! 😂😂
I've been doing a zero based budget since I was 17 (45 years). It's worked like a charm. I'm old-school... paper and pencil for me.
Me too old fashioned but I am 27 😂
Good on ya! 💯💯
Dave was paper too. Remember the envelope system? Times they are a changin. 🤦🏽♀️
This app SAVED my wife and I's finances. Before budgeting, we were deep in debt with barely to no emergency fund and savings. Then in November of 2018, we had the "I'm sick and tired of being sick and tired of being broke" moment. We decided to start budgeting using this app, and followed Dave Ramsey's baby steps, then after almost 2 years, we paid off all our debt, fully funded our 6-month emergency fund, saved money in all our sinking funds then started saving in our 401k. Praise God for Dave Ramsey's life-changing financial teachings!
The best budget advice I ever received was not to OVER specify. So I have line items in the budget called “Run The Family” and this includes everything from Home Depot runs because we need to fix a faucet to cleaning supplies and toilet paper.
This was a big help to sticking to a budget for me
Depends on the type of person you are. I would prefer a super specific budget
Yeah it was opposite for us. The more detailed we got, the easier it was to stick to the planned spending.
I too prefer a more specific budget
I have that line item too. I label it household. I tend to buy my home stuff in bulk, that way month to month I only have to restock some things
this, i find that the 50/30/20 method is not too complicated and can account for all purchases as long as I be honest with myself in terms of what is a need versus a want
George’s channel is HUGE for Ramsey’s connection to the younger generation. This jump cut and meme style of video is wlite for attracting a younger audience to the brand 💪🏻🙏🏻
Huge? It's not huge at all. People unboxing toys have bigger view counts.
@@chadhartsees why are you here?
@@Pstmstr you're not going to be invited to Ramsay's Christmas party for being a Stan on social media.
@@chadhartsees don't want to be. Why are you here? Simple question.
My favorite part of this video is when George said that housing should only be 25% of his take-home pay, but then proceeds to budget $1200 on a $4000 monthly budget
He did say "about" so there's wiggle room with the 25%.
Im ok with them saying 25% . Because we human dont lisent and go over. Imagine if they said 35% people will go 50%
. Im under 25% on my mortgage and its amazing and the only reason why we can pay all in 5 years.
At the end of the day is just a stupid house.
@@debbiefried3533I think that's fair if you buy a house, because your income will presumably increase and your mortgage (principal + interest) will not, but less fair when renting (like in George's example), since rent will go up over time
@@spencerroach8469this. "about" 25% is a target, not a starting point. It's okay to grow into that 25%, but don't do it in a way that keeps you cuffed for a decade first. A couple years, tops.
@@spencerroach8469Interest can vary dramaticly and also a principal if you have it in other curreny which can be the case for us in Europe...Some people faced mortgage go 2x higer then in the beginining.. you always have to have wiggle room...You can loose a job,have lower salery and so on.
George Kamel is what you get if you combine every youth pastor on earth into one composite person.
Hello fellow youth groups
Every dollar is the only budgeting tool I like using and can stick to every month. It has helped me change my financial picture drastically in the last 3 years.
Love hearing that! Way to go!
I really like you in this format, George. Your true personality really shines through and it's marvelous!🎉❤
All I want to know is how does your team find all those clips to put in????? The editing is next level!!
I had the same thought lol 😂 is it someone’s full time job looking for funny clips all day?
I wish the every dollar app was available in other countries and with different currencies because Americans are not the only ones who budget, invest or watch dave Ramsey videos.
agreed.
Yes! Please @GeorgeKamel ask the team to create an "Every Euro" app
What? They are just numbers with a dollar sign. Just pretend it's a euro money sign.
@daseemore4377 not everyone is in Europe or America
I would love an Australian version!
You're doing an amazing job George! Please keep up the great work!
Whoever edits these videos, thank you for the laughs!
Sometimes it gets annoying
George Kamel, you are out of control, but I can't stop watching.🤣
Thanks for sharing the importance of budgeting. Love the edits. Budgeting is a great tool.
you guys are such a blessing for me. Every time I watch your videos I'm getting rid of all my stupid desires. Than you for making us wise.
Keep up the good work George, love listening to you.
I feel called out. I was putting clean pillowcases on as you said go change your sheets 😂
Editors are on point 👌
I LOVE zero based budgeting!!! I've been using this budgeting method for YEARS and its the best one
Love these videos and how you keep them entertaining along with learning.
Love the content George God bless!!!
Glad to see you go over the every dollar app in detailed with this video. It's a simple but detailed plan. The thing I would love to add is if possible, any low cost monthly payments, try to see if you can go prepaid for a annual cost so you can free up your monthly cashflow to put towards other goals or debts. Example is paying yearly on my phone bill saved me a bit of money but also a years worth of concern.
I agree, I pay my Home Warranty, car, insurance, phone bill, and HOA bills in full to save monthly fees.
I change my sheets every week, and if I skip a week, it’s not the end of the world.
But about budgets, I use the EveryDollar app, but I cannot handle seeing only a few line items at a time. I start my budget on excel, which allows me to see the whole budget, every line, on one screen. I am a detail oriented person, but I really like to see the big picture too. I’m also a bit of a nerd, can you tell?
YES! Keep up the great work!!!! Great Content.
George, thank you for making this fun. You are hilarious!
Great video! Thanks for making it George!
I wish you the best in your health and budget journeys. I do think that sometimes we spent a lot of time researching what we need to be doing but not enough time putting those solutions into actual practice. Good luck to you.
Love your videos! Very educational and fun😊. Thank you❤
We needed this. Good job
This was awesome 👏🏻 nice job Kamel
Love George’s personality. He and Jade together on the show are GOLD!!
A great, easy to follow introduction to budgeting and EveryDollar! I would love to see a video on budgeting with an irregular income at some point!
Base it off the lowest and save the rest
thanks for showing me how to add categories
Reading some of these comments from people about a guy trying to help people budget makes me realize what sad pathetic lives some people lead.
❤😂🎉 Perfection! You make being an adult fun! Keep up the great work!
I like your sense of humor 👍
Great video lots of helpful info!
Gosh I love this channel and the humor . Teach how to be good at being frugal
Great work!!
Love it..great advice
We love you George!!!
I appreciate the walk through with this app:)
George, I absolutely love this content. As a business owner who doesn't know their exact income for the month, can you please make a video about variable income and budgeting?
That Nestle Crunch hit in the face made me subscribe. Well done.
Grrat video. Loved the Ginger Billy clip.
Useful video thx for sharing
I’ve been using the Every Dollar Budgeting App for years!! Love it❤ easy to use 🦋🦋
I also use paper😊
I’m currently a full time participant in the gig economy, and a video on how to budget on an irregular income would be helpful. Love your videos!
Put in an estimate on the low end of what you make on average. Update your budget every payday and adjust accordingly.
I skip having a monthly bill and try to save money as much as I can on it.. I pay $202.86 (mint mobile) for a whole year with 5GB of internet. That's around $16.90/month. I deleted all my social media accounts and left installed on my iPhone what I need: Maps, Calendar, Uber, Bus Ticket app, Obsidian (note taking app), etc. I did this to save internet data. I also don't finance phones. I save and buy it cash. In 2020 I bought the iPhone SE, still have it and works perfectly fine.
At least he is acknowledging the after tax income. How has Dave not done the similar calculations when he gets callers.
Preciate it George
I love the every dollar app! We’ve used it close to 2 years and are out of debt!
❤great example thank you😊
My problem is that I do this and see myself going over budget and I'm like yep, I'm going over budget as I proceed to spend more.
Yep, a common problem. That over spending is either going to debt or depleting cash. It’s fixable by increasing income or reducing spending.
My biggest takeaway from this is that I need to change my sheets lol
George you crack me up! Average single person bringing home 4,000 a month, I wish🙄
Who has $1200 rent anymore these day.
That barely exists anymore.
A studio in Detroit lol 🤣
Mine is $1086 furnished. Florida
Yes please on the irregular income based budget! 🎉
Awesome video George! I'll happily trade some of our Canadian Bacon for the Every Dollar App being made available in Canada!
Great video
Yes video irregular income! Thanks!!
Thanks for the app recommendation... I know it's in-network but I did JUST need one recently.
I’ve used this budgeting app nearly a year now. It’s not perfect but it really helped us track our spending on the go. I use this in conjunction with Google spreadsheet. The app for everyday tracking and spending on the go. And I use the spreadsheets to do monthly tally and easier to see month-to-month trend throughput the year.
Great video George & team! I have a little suggestion though. Since the GFX style of the video is very glitch contemporary, i think a redesign of the Ramsay logo for these kind of videos would be warranted. I feel like you guys could really create a fun vignette that would help the style cohesion. Small peanuts, but I thought I'd mention it. Keep up the good work!
I would love to see a video about irregular income!!!! Really enjoying this channel! Thanks for the motivation and information.
Great video! I should really be a lot more strict on my budget. I have no debt other than my mortgage so I use a “pay yourself first” method where 25% of my gross income is saved or invested before it even hits my checking account. It’s much simpler
Yeah everything is simpler when you have no debt... That's obvious
@@rrrrrfffff agreed, if you’re in debt I have faith you can get out!
@@JakeSpradlin2 the reality is with our some sort of help most Americans are gonna be in some sort of debt and that’s not counting a mortgage
I’m in the same boat Jake! It’s a good life ain’t it
@@andrewbrande yessir! That’s the way to be
I love that you snuck in "the order of operations"..... those guys have some good advice, but the Baby Steps are (IMHO) a better way of life, I am a Ramsey fan for life. Dave, George, Rachel, Jade, John, Ken and the rest of the gang have changed my life for the better 10 fold. I strive everyday to pass on the blessings. You guys are the best!!! THANK YOU!!!!!!!
George finally stopped calling himself a "networth" millionaire.. bro. You're a millionaire. Own it.
Dont forget banking fees, I figured that onenour just yesterday 😂. Pretty slow of me but its the little things that skip your mind and pile up.
I would love a video on how to budget with an irregular income.
Yes I have an irregular income and need all the help I can get for budgeting. thank you!
I liked and subscribed because you had me giggling 😂
Appreciate the tithing reference! First things first.
I love to budget. I get to have a line item for all those Expressos!!
best thing I ever did financially was create a budget and stick to it
Same here! I found money I didn't realize I had all along!
Did this video on my channel last week! This week I will be going through my expenses to look at trends from one year to the next and who are the biggest beneficiaries of my income.
This is pretty helpful. It would be nice if there was a way to enter regular quarterly income in addition to the regular bi weekly paychecks.
Yes do a video on irregular income budgeting
Wish with all budgeting apps you can start it the day you get paid.. if you get paid on the 15th and don’t get paid until the following month on the 15th that’s the one month. Reports and tallies are always in one month.
An irregular income version would be amazing, us hairstylists need help tooo
You can add more paychecks, if you can predict weekly, make it 4 paychecks, or if you are daily, add 30 or 31 paychecks 😂
I have found my favorite UA-cam channel.
AWESOME awesome!!
Video on irregular income pls!!! I have irregular income and having a hard time with my budget.
Yes, make a video on irregular income budgeting
I’d love an irregular income budget!
Good morning! I'm not George, but hopefully this helps. For an irregular budget you need to budget off of a "low" income month. So if your income ranges from $2000 to $4000 a month based on overtime or commissions you will budget off of the $2000. Then as the month progresses and you bring in more income you can add that "extra" to either saving, spending, or debt. That will all depend on which Baby Step you are on and your overall goals for that month and the next. It is also prudent to save more your first month or two to give yourself a buffer in you checking account if you have been living pay check to pay check. Remember, this is a Zero Dollar budget, not a zero bank account budget. Have an awesome day!
I just use a spreadsheet with a tab for every month. Each tab shows the current amount we have in each bank account, the total of our paychecks for that month, every single bill that is paid for that month, and what extra money we've spent whether it's some kind of emergency, maintenance, or just for fun. I even have this spreadsheet to estimate what we should have by the end of each month pending that we stick to the budget or no emergencies pop up. I base our fun money due to our expenses and what we want to be able to save after everything is paid for.
My favorite part is when George mentioned he goes to planet fitness. Truly a George Kamel experience
Irregular Income Budget video please 🙏🙏🙏
Please record a video showing the budget with an irregular income.
“You work too hard - too feel this broke” 💕
Doing this made me realize I need a third job. Utilities keep rising as well as insurance and food and that is something I cannot cut out. Its sucks when you are trying to eat healthier and your bill is significantly higher. I wanted to get rid of the dog, but my husband said no....
pay yourself first budget has always worked for me
Irregular income budget video, YES PLEASE!
I'm going to check my winter coats...
Had to comment on the Earthbound sound clip
Yes please do a budget with irregular income.
Make Everydollar available to the UK, pretty please!!!!
Great video George! As Freelancer my income changes every month, some months are extremely low and others are incredibly high, how would you budget for this?
If you have debt, is it still smart to give 10% to the church? Or is it frowned upon to use that money to get OUT of debt and make your life better and then give that money to church if you want
If one has a relationship with God, I would think one would want to obey what he says regarding tithes. Also, it’s all His money anyways.