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Home » January 2021 Paycheck Budget Recap | Budget Tips + Savings Goals financial goals worksheet

January 2021 Paycheck Budget Recap | Budget Tips + Savings Goals financial goals worksheet

Ryen & I are talking about our January 2021 budget numbers! Not only do we show where our dollars went, but we also discuss our failures and what financial …

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January 2021 Paycheck Budget Recap | Budget Tips + Savings Goals

January 2021 Paycheck Budget Recap | Budget Tips + Savings Goals

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January 2021 Paycheck Budget Recap | Budget Tips + Savings Goals
financial goals worksheet
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49 thoughts on “January 2021 Paycheck Budget Recap | Budget Tips + Savings Goals financial goals worksheet”

  1. Does anyone know where she keeps her sinking funds or other savings? Does she have various separate bank accounts or does she keep large amounts of money in envelopes? In other words, how does she keep her saved money for different categories separated ?

  2. I am hooked on your videos and am starting my budget by paycheck journey this month. I would love to see a more updated set up of your budget. Especially Ryen's (with debt) but also you talk about cash flowing smaller birthday and expenses. How do you do this? Is it treated as a bill or a one off envelope for the month?

  3. This video JUST answered all the questions I had while doing my February recap. INFLOW makes so much sense now. Plus calculating the savings based on actual income vs. inflow. THANK YOU!

  4. Do you have any tips for someone who doesn’t have consistent work? I’m a college student who is only able to work over summers and winter breaks and struggle to determine how much I need to save and make in order to stay afloat during the semester

  5. I addressed the issue of inflow as 'added budgeted income' about two years ago. I realized the need to account for funds accumulated in previous months but used later on. I use the same idea you have about not counting those funds as income.

  6. Thanks for the in depth explanation. I want to get started using TBM method, but first I have two questions. First, for food, do you include everything you buy at the grocery store like TP, paper towels, shampoo, etc? Or do you go through your receipt and separate those things into another category like household, health/beauty??

    Second, my husband gets paid twice per month, so the BBP method works well. But I also have my own laundry business where I get paid through an app multiple times per week, and it’s variable from week to week. How do I include that income schedule and fluctuation into the BBP method? Thank you!

  7. I love this concept of "inflow"! I started including cash gifts as income but it felt weird since it wasn't earned income but the different categories of inflow makes a lot of sense!

  8. THANK YOU for sharing your thoughts on cars. Especially what you said at 3:26 minutes, "I've learned in my life sometimes convenience….smart convenience… our time is more valuable than the money that you would pay or save.". When I began my budgeting journey, I was leasing a car. When the lease was up I decided not to lease again, instead I was going to buy a used car. The entire process took months and it was very stressful. I know there is no perfect way to buy or sell used or new cars. There are many options, and we all handle stress differently, but not many budgeting experts talk about decision-making stress equity. They don't talk about the stress that goes with this process, especially if you are a person who does not know much about cars. Thank you for acknowledging this truth 🙂

  9. I'm not sure the revised way of calculating % saved is accurate. Rather than inflow I think of it as available funds. What % of funds available to me did I save. Say I have 100 dollars for my partners birthday in a sinking fund but only spend 90 dollars on his present, then the remaining 10 dollars is available to me to either spend or put towards other savings goals.

  10. I would be interested to see your savings and sinking funds funding separated. I feel like sinking funds aren't really saving–they are budgeting for a future planned expense. Just a thought. I totally love The Budget Mom–I've been doing budgeting by paycheck for years and years and I love the resources you have made available that allow me to finally track in a meaningful way.

  11. I love watching these videos but if I may give some feedback: Miko please stop interrupting Ryen. She’s a very bright person and doesn’t need you to complete her sentences or to explain things she can explain for herself. 🤦🏻‍♀️

  12. How do you keep track of your checking account cushion as you use it so that you know how much you have to replenish? Do you use a separate spending tracker?

  13. Absolutely love getting to see you and Ryen’s budgets together each month and hear you just chat as friends about them! So helpful and helps me stay inspired to stay on track!

  14. Private party is how I prefer to buy a car, its not a big deal to go to the loan holder and hand them the check they then give the extra to the car owner and give you the title (or your bank if you have a loan). I can pay my mechanic $150 to do a better inspection than the dealer will and I save $2850.

  15. Do this budget planning in Excel Sheet and it will make your recording and tracking so much easier but I do understand Excel might be quite tough for those who never worked with it.

  16. I feel too guilty if I cut my kitties' budget and don't cut mine LOL! I need to budget in some cat perches/trees for them as they've pretty much outgrown their kitten one. But I went overboard when I had dogs and was always getting stuff for them and only one played with toys so I finally learned to just replace her favorites when needed and get bones when I went for dog food. the fund for them is great too because as mine got older the lab needed that expensve acl surgery and both needed more meds as they aged and I had in-home euthanasia for each when that time came that included cremation. with the first I wasn't budgeting but with the second I was budgeting and didn't use the credit card.

  17. Thanks for the video..I'm realising that I'm traking my spending into my envelopes but not leaving room in my budget to save..I gotta work on it 😀

  18. well another dealer give you more? My friend went to see what she could get for car if sold to a dealer. one dealer offered 2000 less for her vehicle than another dealer. It pays to check around.

  19. You have to pay CARMAX the difference at the time of the sale or pay the $3000 to your loan prior to selling it to CARMAX. CARMAX will NOT cut you a check. I worked for them for a few years so this how I know the process.

  20. Yes I like the “inflow” term better than “income” which felt inaccurate from an accounting standpoint. Inflow can encompass any transfer of funds from savings. I like it, your new method cuts down all the double counting and inflation of the savings percentages. Hope to see this more accurate methodology on the next set of books!

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