My Guest on the Show…
Did you know there are basically four different budgeting techniques to use with the everyday money. They are: the cash envelope system, the survival budget, the balanced money formula and the budget burndown.
If you’ve been a long-time listener, you know I am huge fan of the cash envelope system when you’re first getting started with forming a plan for your money. However, this doesn’t mean it’s a budgeting technique you have to develop and use forever.
This week Jeff Whelpley, the co-founder of Swish, is coming on the show to talk about the BUDGET BURNDOWN technique – which may be a great fit for you.
To give you a glimpse of how the burndown budget works, think of a fuel gauge on your car. Now, instead of gas and miles, think of money and life. If this doesn’t quite make sense yet –no worries. We will dive deep into the Budget Burndown in this week’s episode.
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The Money Peach Podcast is brought to you by my #1 online program for showing you how to budget, how much to save, how to manage your debt payoff, when to save for retirement, what to teach your kids about money, and how to build a legacy to last beyond your lifetime.
If you find yourself continuing to live paycheck-to-paycheck and wondering where all the money went at the end of the month, it’s time to finally make a positive change. Welcome to the class they forgot to teach you about money – Awesome Money Course.
Mentioned in this Episode
Budgeting is not boring! [2:07]
When the mechanics of budgeting are overcomplicated [5:54]
The cash envelop budget [7:27]
The survival budget [11:31]
The balance dmoney formula [14:10]
The budget burndown [17:36]
Jeff’s app [22:52]
How it keeps your information safe [27:29]
How Swish works [29:45]