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140 | Budget School Series: The Ultimate Income Breakdown (Part 1)

140 | Budget School Series: The Ultimate Income Breakdown (Part 1)

FromFinancial Coaching for Women: How To Budget, Manage Money, Pay Off Debt, Save Money, Paycheck Plans


140 | Budget School Series: The Ultimate Income Breakdown (Part 1)

FromFinancial Coaching for Women: How To Budget, Manage Money, Pay Off Debt, Save Money, Paycheck Plans

ratings:
Length:
30 minutes
Released:
Sep 18, 2023
Format:
Podcast episode

Description

Get Your Discounted Budget Power Hour Workbook & Workshop Here!
Welcome to our five-day budget school series! ? Get ready to revolutionize your budgeting mindset. These next five days will break down the essentials of budgeting, from the basics to the advanced. We're here to guide you through it all.

? Income 101: It's not just about your regular paycheck. Your income includes everything from your job earnings to tips, bonuses, refunds, and even Grandma's birthday money. Every dollar needs a purpose in your budget, whether it's for essentials, savings, or a little treat for yourself.

? Gross vs. Net Income:*Think of gross income as the whole pizza and net income as the slice you get to enjoy. We focus on net income for budgeting. Deductions like taxes matter, but we don't count them as income. And if you're dealing with debt or a tight budget, consider pausing investments to prioritize financial stability.

? Irregular Income vs. Regular Paychecks: Create a holding account for irregular income sources to maintain consistency in your budget. Pay yourself a consistent amount regularly. And remember, even with extra income, give it a purpose in your budget; don't let it vanish.

?️ Structuring Your Budget: Not everyone gets paid on the same day every month. If your payday falls at the end of the month, consider it part of the next month's budget. Your budget should always have a plan for every dollar.

? No Such Thing as an "Extra" Paycheck: Every dollar needs a job, even those from "extra" paychecks. Allocate them to essentials or your financial goals.

Your homework: Organize your income in your budget, align it with your paycheck dates, and evaluate if it meets your financial goals.

And don't forget to grab our Budget Power Hour workbook and workshop for just $97 for the first 100 sales! ? Get it here with code "100."

Next Steps > > >
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Released:
Sep 18, 2023
Format:
Podcast episode

Titles in the series (100)

Even high-achieving, Jesus-following moms need help organizing their finances. We want to help you learn how to budget, how to get out of debt & how to save money. We do this through 1-on-1 coaching where we teach you how to stop stressing about money & install systems that automate your finances. Once you have these money systems, you’ll be able to live debt-free, build wealth & achieve financial freedom. Join us to ditch the bad money habits & take control of your financial future. Shana & Vanessa are best friends, business partners and Ramsey Solutions Master Financial Coaches.