74 thoughts on “How To Budget Your Money

  • Hey Masters! Need help budgeting and managing your finances? This method is exactly what I did when I was struggling with money to get my finances in order. It’ll also give you the path towards getting out of debt and ensuring you’re setting yourself up for financial freedom. Enjoy!

  • Creating a monthly business budget may seem like a hassle, but I bet it’s something you’ve been thinking about for a long time. Take the leap! It’s an essential infrastructure project that gives you the ability to make conscientious financial decisions so your business can stay on track and grow.

  • So much helpful practical information. Thank you for sharing! Good luck to you if you’re reading this and are on your journey to self mastery!

  • Great video ! I always talk about how to make the money on my channel but this is just as important ! Thanks for sharing !

  • Of you want to start leaving your dream life you have to stop that paycheck to paycheck lifestyle. Thank you for another banger ❤️

  • Thanks so much! Super helpful! Yeah it happened to me just this year that I took the dividends carelessly not accounting for personal tax. Definitely learnt the lesson 😭 gonna start being more smart with money from this year on for sure.

  • Great tips Stefan! Budgeting was a MAJOR contributor to my being able to do what I'm doing now. Appreciate you sharing this!!

  • This is so great!! Avoid debt at all costs, because it costs you so much in the long run.💸 You don't have enough money to go into debt. 🤑🤑🤑

  • Thanks Stefan! Started using exactly this method last year after your old video, it really transformed and improved my life! Also I found it very enjoyable to manage my finances on a weekly basis.

  • Such a good video, thanks Stefan. I’ve been following you for quite some time now and I can say is that this is One of the best channels on YouTube!

  • You are amazing! Thank you for all of the knowledge you provide. Your videos are informative and appreciated! I am learning so much from you.

  • Great video, again. I actually paused the video about 70 times to use the information and apply and adjust as you went along. Thank you for putting out basic financial videos like these as we start.

  • Such an great thank you for your hard work ! It'd made me some great progress in my budget planning and had one or two future habits to my routine !

  • Great video! It’s true that you can use your credit card responsibly; and having a good debt in helping your business.

  • How do you generate cash flow? How do you double your money if your 18-19 and make $1,200 a month (300 a week)? I'm thinking of getting an investment house as I still live with my mother and not planning to move out any time soon.. I started reading Rich Dad poor Dad by Robert Kiyosaki and Sharon Lechter, Rich Dad Poor Dad for teens, Rich Dad Poor Dad Becoming rich without cutting up your credit cards. Now I track where my money is going to determine if I’m spending money on things that don’t matter, making impulse purchases, or wasting money without even realising it… last year I wasted $5,980 on McDonald's,entertainment,shopping, and Uber. I Don’t use card because you don’t see the money being taken out of my account whereas using cash it makes me spend less money because you think of all the hours spend making that money… I put the name of all my expenses on an envelope and put the money in cash into it and that's what I use to pay for everything For e.g. going out $40 monthly once the $40 is gone for the month I'm done going out. I also started putting money aside for a Rainy Day Fund (emergency fund), if something unexpectedly comes up this is where I can turn too so I won’t be in a position where I don’t have the money ($50-100). I use $150 monthly to pay for things ( use a app called Pocketbook to help me with my spending). I’m focusing on a goal, yearly goal, then break it into monthly goal, then daily goals for example investing in high income skills, skills which generate high income and study accounting to get an idea of how business works before getting into real estate. I'm also thinking about studying marketing, economics, shares, real estates, high return investments, online businesses etc I didn't know where to start. I want to have multiple streams of income by 23-25. Right now I'm learning about Asset and Liability and has gotten addicted to saving the right way.

    “those who don't manage their money will always work for those who do. Do not save what is left after spending, but spend what is left after saving”

  • This is extremely powerful and so so helpful! Loved what you said about having a mindset of abundance ! I’m a huge giver and I notice how much joy I feel before and after. It makes way more sense because if your giving money and money isn’t a problem anyways. It changing your perspective on how you see money. Which is how you should live; in abundance 😇 thanks man

  • Wow! Really fantastic video bro. Me and my wife are completely debt free and have 40k in savings in the bank. I'm a full-time teacher assistant and my wife is a barista. We both bring home a combine income of 60k per year (which is roughly 45k per year when taxes and retirement is taken out). Like you, we have weekly budgets on excel spreedsheets to track our spending. The only thing we prefer to do differently is to have no weekly payments.

    For example: We pay our life/income protection insurance, car insurance, gym memberships, cell phone bill, Netflix or any other subscription annually on June 5th of every year (The Big Bill Week). In other words, we pay all these bills annually on 1 specific week of each year. So, this allows us to have 51 weeks free to accummulate wealth as we only have a weekly food and gas bill to worry about and the rest is surplus we can invest.

    I really like the fact, how you mention that people should use credit cards to do their spending and pay off the balance in 55 days without occuring interest to increase their credit score. I have always been anti debt. However, as you know this system is based on debt and you need a good credit score today to be able to rent apartments, have power bill, a phone bill, and when applying for jobs etc. I think me and my wife are going to get a $500 limit, no account fee, low interest credit card and pay it off every 55 days to build our credit. I think you have slightly changed my view on debt. If done properly with the right planning it can be used as tool to greatly enhance your life. Thank you for your videos bro. You are helping millions of people 🙂

  • He is right. I did monthly check in with my finances and I slowly started spending more.Weekly is better even if its 10-15 mins.

  • Love the video👍🏼, it's a real eye opener. Going to apply it this month to see where all my money is going wrong 🤷🏽‍♂️

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