I'm Debt Free But Still Struggling To Budget 

It is because managing is purgatory. You come to the realization that you were spending all that time just to still be in the RAT RACE.

Definitely agree

now."

Yup, I’d say Im more laid back in working so much and spending more

Automating money going to investments and sinking funds is what keeps us on track after being debt free

Well darn! I thought I could go all out because all businesses and the world knows that I know how to pay my bills and they would give me a break.

His advice is live homeless for 10+yrs till debt is paid off then continue to live poor until you’re in your 70’s and then spend very little till you die😂 he’s a rich man outta touch with the real world because well he’s never had to work haha

Yup. Once all bills and obligations are paid and met each month anything above that is just gravy. After debt is gone it just gets better and the wealthy accumulate. Heck I made a big crockpot of stew with fillet mignon on purpose yesterday with all fresh veggies and been slow cooking since yesterday and smells so good.

Ita definitely a dedication

Timothy Dillon 😂 you sound like me...even though I could spend quite a bit more than I do, I'm still being pretty careful about whatever I DO spend, and I think it's because I spent time getting out of debt and creating a savings, and I don't want to see all that go down the drain, so I'm still careful about whatever I spend.

We are the same pretty easy to figure avg monthly expenses minus avg monthly income after you put away some for savings rest you can do whatever you want not limited to particular allocations of a budget. Do this and since we are naturally frugal we save alot pretty easy.

@@tristan2332 👍

😆😩😩😆

What about saving for retirement and kids college?

That exactly why she needs a realistic and detailed budget. Like Dave said, it takes an hour or so to initially set up but takes less time to adjust and fine tune.

It's a distraction from the ultimate truth, the fact we are here for a limited time on earth. It's a hard truth to face

Do an emergency fund and make it a priority to rebuild it immediately (like paying a bill) after one of these unexpected happen.

@@stevenporter863 thank you that’s a good idea 😀

@@stevenporter863 ✔

That was the best part when I worked the night shift; I was either working or sleeping with very little time to spend.

I tought i could work less hours since im debt free but nope i still work the same or more. Difference is now i can have fun with it!!

@@jo4285 like today my hours were just below a 8hour day, fine with me but the others get mad and worked up over it understandably

True but Dave won't let it be adjusted. He thinks it is perfect through all times (no adjustments for inflation, etc.)🤷

​@Steven Porter it's written in stone...can't br changed at all

@@stevenporter863 I think he would say that an adjustment for inflation (if needed) is getting a part time job or side gig to increase income.

@@Sheryl777 Ya, second job, but talking about adjusting starter fund amount from 1989 prices (or whenever he came up with that number).

@@stevenporter863 I think if there is a good reason for it, that having more than $1000 starter emergency fund is ok...Sometimes some people need more than just $1000 for various reasons yeah.

How do you know it’s enough for retirement?

I dont use the envelope system. I looked at what I have spent money on in the past month and sperated an essential from non-essential. A rarely used subscription is non-essential. Internet and power is essential. Cut out what is non-essential. When I go shopping I only buy what I need. I spend less when I am under a time limit at the store and when I stick to my list. Use the lower cost grocery stores like Costco or Walmart. Only buy what is on your list and aim for a short trip. Like "ok I need to be out of here or at check out in 20mins" or whatever. Save for annual cost like insurance and property tax. I don't call what I do a budget. I call it saving money for yearly cost and only buying what I need.

Put X% in savings account or a second checking. This is your "future" account. Retirement, car dies, medical, clothes, etc. You tap that for those. Pay your fixed bills (electric, water) when the paycheck arrives. After that. Just spend. Your account balance will fix your problem. If you go to Walmart and buy something like clothes, transfer that amount out back at home. Or segregate at register. Then year over year see how much the future account grows. Go for 10%. Adjust the x% of paycheck according. Keep in mind, future is retirement too.

Check out YNAB

@@michaelcarter266 I remember many using the envelope thing in the 70s. Can understand it back then since most used cash for things. All I need is my Iphone/IPad and a few apps.

Mike Summers - I have separate bank accounts with different photos on each of the debit cards. It now only helps my spending but also helped me save up for larger items. For example, when I was saving for a vacation, each month I put a certain amount of money into that account but also anything I spent for the vacation came out of that account. If the vacation is a trip to the beach, get a card with a photo of the beach. I did the same saving up for a new car. It actually made "budgeting" kind of fun.

The hosts of this show would tell you to use all of your savings except $1000 to pay off or pay down the loan, then hope and pray that nothing unexpected will come up in the near future that costs more than $1000.

@@megalodon1726 thanks 🙏

Public transportation if possible, it's usually cheaper. Or a combination, but Uber is probably cheaper than a car payment + insurance + gas + repairs.

Managing your money after getting out of debt can actually be more difficult because the gazelle intensity is no longer there.

@@LG123ABC Agree...it's just a different dynamic than focusing on getting out of debt. We have to change whatever we are focusing on financially now, instead of debt reduction.

Well she is debt free including her house so.. not able to control isn’t accurate.

Yeah? I know a lot of males with this problem too, go figure!

Incel energy right here

Newsflash! There are men who can't control their spending. Shocking? Nope.

@@Jaiem_ Men understand if they do not learn to handle money they end up on the street. How many men are homeless VS women?

Sour grapes.

Soup grapes??.. u must not understand life, u can get humbled real fast!

@@Buggu3 Sounds like you're projecting.

Financial obligations,worry, and issues doesn’t end when debt is paid off.

​@@blackworldtraveler3711 Especially if your self employed.

Retirement is an invisible debt that you always have until.... well let's not get morbid, lol. A budget is extremely important!

Budgeting is important so that you don’t become disorganised. Disorganisation leads to overspending

Yeah, but even if you don't have debt, not budgeting or planning your finances can end up putting you back in debt cause you aren't budgeting to save money for things coming up. All it would take is needing a new transmission for your car or a hot water heater for your home that would set you back into debt again. Just cause you don't have debt doesn't mean that you want to spend everything that you make. If you aren't careful, you can end up back where you used to be financially just cause you choose not to pay attention to your finances.

​​@@vickieclark5931ot true. You just live below your means. It's a mindset, not a math problem. "Things coming up.." that's what puts you back in debt.

​@SilentEire And overspending leads to...wait for it... ...Debt. 😢