Budget vs. Your Actual Spending

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Budget vs. Your Actual Spending

Рет қаралды 72,056

4 жыл бұрын

I get asked a lot what the difference is between the "Budget" & "Actual" columns in the Budget By Paycheck Workbook.
I am a paycheck budgeter, which means I create a budget every single time I receive a paycheck. When you create a budget, you are using estimates based on what you think your expenses will be. Essentially, you should be planning ahead.
In this video, I break down the difference between your budget and actual spending. There is a significant difference, which could leave you more money than you think in your budget.
➡️ HOW I TRACK MY SPENDING: bit.ly/3aIe89I
➡️ HOW TO USE A BUDGET CALENDAR: bit.ly/2IzF2Vj
➡️ FINDING YOUR WHY: bit.ly/3aJUryj
➡️ THE BUDGET MOM'S FINANCIAL FREEDOM STEPS: bit.ly/3cfJXsp
➡️ HOW TO GET STARTED WITH THE CASH ENVELOPE METHOD: bit.ly/2vQJaO5
➡️ HOW TO CREATE A PLAN OF ATTACK TO PAY OFF DEBT: bit.ly/2wDETxF
ABOUT ME
I'm the blogger behind www.thebudgetmom.com. I have a rambunctious 6-year-old son, live in Washington, and I'm passionate about helping people with money management and personal finance. Let me know what you like to learn more about! Leave me comments and suggestions on my video and let me know!
YOU CAN FIND ME AT:
📝 BLOG: www.thebudgetmom.com
📘 FACEBOOK: / thebudgetmom
📸 INSTAGRAM: / thebudgetmom
📌 PINTEREST: / thebudgetmom
GET STARTED
➡️Start Here: www.thebudgetmom.com/start-here/
➡️Free Email Course: bit.ly/2UYgNFf
➡️Free Resources: bit.ly/2PDmTHz
➡️GET 10% OFF my popular Budget-by-Paycheck Workbook - Coupon Code TBMKZfaq bit.ly/2CR7U9n

Пікірлер: 100

@cuidamosporti8472 4 жыл бұрын

No Dave Ramsey, No Kiyosaki, you are the one than have save me from all my credit card loans. You don’t know me and you don’t know how much have you helped me. Really thank you!!!

@Havanah2006 4 жыл бұрын

When you can’t sleep at 1247am Sunday morning and TBM releases another KZfaq Vid yah!! Midnight watches 🤣 Brisbane, Australia 🇦🇺

@FamilyFinance 4 жыл бұрын

I'm from Brisbane too!!!

@Havanah2006 4 жыл бұрын

Family Finance yay a fellow Aussie, Hi from Waterford West 👋😍

@marilynvega6804 4 жыл бұрын

I am an essential worker and right now your budget book has been so amazing for me and my family I lost my other income so i have been needing to budget very carefully to make sure we have what we need. For the past year your budgeting skills and your budget advice have been amazing to me. I started with the downloadable book before you even had an actual book and for Christmas my boyfriend got me the budget book and i was extremely happy. I am so thankful that i came across your channel i paid off 17k of credit card debt in one year and i also now only owe 4,200 on my car loan. Working in this pandemic i am so glad that budgeting is in my life i couldn't imagine how things would be right now if i didn't know all of these skills.

@ayannafraleymoore5265 4 жыл бұрын

Marilyn Vega Thank you for your service during this horrible time. I am praying that you and your family stay safe and healthy.

@marilynvega6804 4 жыл бұрын

Ayanna Fraley Moore Thank you so much! i wish you and your family nothing but health and happiness during this time.

@aliciarivera9248 4 жыл бұрын

Love how she can explain everything in sections for us! Thank you to TBM!! I’m a health care worker and I’m so bless I found you before all this craziness happened... since my husband lost his job I’m glad I can still manage to take care of my family on only one income.... thank you and god bless!

@lifefaithfamilywithshandap1894 4 жыл бұрын

Thank you. This explanation really helps for a better understanding of where the budgets. I am often in the red and trying to figure out how to change that!

@Its_mso 4 жыл бұрын

You got me into budgeting!!! Thank you for saving my life and finances.

@BeingAngelaMonique 2 жыл бұрын

Your channel just saved my life, I'm going to binge watch you and turn my finances around, THANK YOU!!

@FamilyFinance 4 жыл бұрын

I love watching how detailed your budget is 😍

@joypainter4164 4 жыл бұрын

I love listening to you while I'm driving and then watching the videos when I get home.. ❤❤

@elijahnw 4 жыл бұрын

You have helped me create my budget so much! I can’t wait till that book becomes available.

@flamingo.and.co.26 2 жыл бұрын

Just starting budgeting with you. This video is helping me so much. Thank you

@kimthatsallyouneedtoknow5684 4 жыл бұрын

I got frustrated and gave up even trying because it seems so many random things come up that I might as well just throw the bulk of the leftover to a misc category or something or we have to travel back and forth due to hubby's job and we never know how much we're gonna spend on gas or food and it's SO OVERWHELMING. Maybe I'm trying to be perfect but I want to pay stuff down but I feel like I have to hold onto what's left for all the unexpected stuff plus our stores have been bare and grocery shopping has been tricky. Sorry for the rant but it's so overwhelming every time I try. I love your workbook though. I have both it AND the printables!

@vitzaniadominguez6961 2 жыл бұрын

Using your actual budgeting examples and information is a beneficial aid; thank you!

@janishaperry3161 4 жыл бұрын

This has really helped me. When I budget, I round up also but I don't account for the extra money from the actual. I'm going to start writing it down. I downloaded this paycheck bill tracker a few days ago and will be taking full advantage of the actual column. 😊

@ginajohnson1654 4 жыл бұрын

I get sooo happy every time you post a new video! I'm either learning something new or getting a good reminder on what I should be doing to reach my financial goals.. love it!!

@amandavelong83 4 жыл бұрын

Gina Doucette I feel the same way! Always checking to see if a new video is up

@nancyval325 4 жыл бұрын

Same here! If this isnt something I'm constantly looking at I fall off track.

@CleaningAway 4 жыл бұрын

I love watching your videos. It has helped me get on tract these past couple months. The beauty of it is I can adapt it to me. We don't do cash envelopes, but I can take the same concept and do it electronically.

@CleaningAway 4 жыл бұрын

*track not tract, haha

@anap2916 2 жыл бұрын

This video is so helpful. Thank you. I'm still trying to figure out how to use the budgetworkbook. Thank you.

@lornarobb6389 4 жыл бұрын

Wow Totally didn't know about the Envelope Actual, makes perfect sense now you said it .. Thank you

@TheOrganizedMoney 4 жыл бұрын

Great video!! I love expense tracking...

@andrealewis1700 4 жыл бұрын

As always perfect timing, finishing my May budget🧐🧐

@cspann33 4 жыл бұрын

😩😩😩 and I’m doing a no spend month to see if the extra paycheck is really “extra”. I need to order my paycheck by paycheck calendar 😣 to keep me better organized.

@michellemorales401 4 жыл бұрын

Same. 🙂👍

@MRJLS15 4 жыл бұрын

Thanks so much for this great video

@doogieRN1 Жыл бұрын

I need to watch this when I am near to closing out my budget for the month and think about what is going on or what has happened in that month I am preparing to close out. As I find near the end of the month if I budgeted over what I actually spent and there is money left over I am not using my money wisely to put it towards my goals. I actually did this though one month and was able to pay off the last credit card and now I am debt free!! BUT now in order not to overspend when I do have a good month and stay within my planned budget, I need to focus on what it is I have been wanting to save for, and I think that will be separating some savings to specific accounts at my financial institution for a car maintenance, house maintenance and an emergency fund, for now. Needed help to think this through, thanks Kumiko!

@Black_wolf_11. 4 жыл бұрын

Omg THANK YOU this is my very first time doing this n im so scared to fail or give up. But i will learn. Thank u again for this video!!!😘😍

@andrealewis1700 4 жыл бұрын

Melissa Hernandez you got this!!!

@arthrodea 4 жыл бұрын

Hey! Most people mess up for the first couple months on their budget! Its takes a little practice to get the hang of it, so don't give up!!

@thebudgetmom 4 жыл бұрын

@@andrealewis1700 Love the encouragement!

@crismanagbanag6347 4 жыл бұрын

Thank you IM inspired to budget more

@momamushy 4 жыл бұрын

Love the lint roller! lol Real life. :)

@joycejoyce7825 4 жыл бұрын

Thank-you for the video :)

@erelinorano2058 3 жыл бұрын

Thank you so much

@kelleywells3728 4 жыл бұрын

Up late tonight binge watching your videos. My question is where are you recording your cushion? Did I doze off?😆

@LatriceSteward2015 4 жыл бұрын

I like this because you can see every dollar spent

@marynasharapova2408 4 жыл бұрын

I am new to the channel, love it. Where can I buy the budget planner like the one in the video? I tried doing budget online or in apps but for some reason if I write it down manually it works better.

@thebudgetmom 4 жыл бұрын

budgetbypaycheck.com

@MelissaKitto525 4 жыл бұрын

It’s easy to manage this in YNAB software too

@TanyaScorpio Жыл бұрын

Excellent new subbie

@makaiyasimmons7127 4 жыл бұрын

When will more workbooks be available?! I've been on the list and checking the website for what seems like a while now.. I'm anxious and excited

@alicia_shaun 4 жыл бұрын

Makaiya Simmons they go on sale every October 💕

@makaiyasimmons7127 4 жыл бұрын

@@alicia_shaun That's so far away :-(

@osorio220 4 жыл бұрын

Is there a video that goes more into detail about the cushion? If I'm doing $50/paycheck, would the first be $50, then the next one $100 then $150 and so on. Or do I subtract the cushion total from the previous times?.. hope this makes sense...still a beginner & a little confused. Thank you!

@m-3020 4 жыл бұрын

is there a way we can buy a BP workbook before October? i would really love one

@heathernatale 4 жыл бұрын

I have been looking for a new bill tracker and cant seem to find one I like. Where did you get the one you use? I really like it

@thebudgetmom 4 жыл бұрын

You can find all products in the shop >> shop.thebudgetmom.com

@verneemcfadden3894 4 жыл бұрын

I'm pretty sure you covered this in the past, but I'm still going to ask. 🙂 Would it make sense to build up the checking account a bit before focusing on a zero base budget, just so you have a cushion? I am at that cross road now and deciding what would be the best option.

@carliepenn9342 4 жыл бұрын

Vernee McFadden shes explains it in July budget video.

@debramurphy4295 4 жыл бұрын

My electric is always the same except once a year it determined up or down on need to secure my home

@chalongehart3134 4 жыл бұрын

if i were to spend over the amount in my cash envelope by using my checking account, would i add up the total from cash and checking to put in the actual column?

@fondcello1994 4 жыл бұрын

what to do if cash envelope is an allowance? My husband and my son have a cash allowance which they spend anyway they want. What to do?

@lratley4420 2 жыл бұрын

I have 2 checking accounts. One for all bills and one for daily spending, groceries etc. I am confused on how to us the TBM for 2 accounts. I was also wondering about the budget vs actual.

@barbra429 3 жыл бұрын

Can you share where you purchase your budget book from please

@GooDneSS434 3 жыл бұрын

I noticed that all your spending don't have change in the amounts. They're always a full dollar amounts on your expense tracker. Do you carry around coin for when you use your cash envelopes?

@bekahwebb9564 4 жыл бұрын

So, if you have debt, do you prioritize the sinking funds or put all of those in debt first? We only have my car & house to pay off, & my goal is to pay it off before this year ends. I need a reset! Lol

@michellesallerson8201 2 жыл бұрын

Where did you buy the notebook?

@terelasso 4 жыл бұрын

HI Miko, I have a question! How do you close the budget to zero when you have an amount to roll over for next month?

@terelasso 4 жыл бұрын

At the end of the month

@Wholeplantfoods_Lucie 4 жыл бұрын

You would rollover the leftover into the next month OR apply it to savings or debt for the current month, depending upon your goals/priorities

@kristinlowther6260 2 жыл бұрын

My husband and I are new to your budgeting system and we appreciate what you are trying to do. We think over all this system will work and have been trying really hard to get all of our numbers plugged into the Budget by Paycheck book we bought from your website and have watched dozens of your videos. However, each time we watch one of these videos, we feel frustrated because the instructions are not given in a clear and concise manner. There is a lot of extra talking and examples given with numbers that are not actually shown on the form (for example your utility bill) and it makes us feel confused. Also, we are trying to build up money in certain categories that we pay online with our debit card such as gas. We don't use case for that. According to our understanding of your explanation in this video, if we didn't spend all the money we budgeted in that category, and have money left over in the "actual" category, then we would have to assgin that money to something else like debt or savings? We want to get to a place where we are one month ahead of all of our bills/categories and are struggling to understand how to make that happen with your method. Please advise. Thank you.

@angarettestuckey2839 4 жыл бұрын

I notice on your checking account tracker, you write the exact amount that is deducted, but on your cash envelopes, you round up to the nearest whole dollar. Can’t figure out how this does not effect the closing of your budget.

@andiebear17 4 жыл бұрын

Would you be able to do a step by step with calculations, etc? I’m not sure if I missed something but I can’t figure out where the $1968.74 in the Leftover Category is from. Can someone help? 🙈

@katiedoucette05 4 жыл бұрын

It is $4882-$2913.26= $1968.74. So it’s her income minus actual bills.

@nuclearhead79 4 жыл бұрын

When will you have more binders?! Next year?

@thebudgetmom 4 жыл бұрын

October :-)

@nikkiedwards7475 4 жыл бұрын

Since the C-19 I spend more on food, 😞. I was really doing good before. Doesn’t help when kids are home too.

@FamilyFinance 4 жыл бұрын

I'm spending so much on food now too!!!

@nancyval325 4 жыл бұрын

I think this is everyone right now! But its helped me that I'm not spending on other things such as gas, lunch with coworkers, and not going to the stores.

@karlad.sapien9050 4 жыл бұрын

I search to see if anyone has my issue: I receive income twice a month. The 1st income is larger than the second one, therefore I fully fund some envelopes from my 1st income and some I do half. then fully fund them from my 2nd income. My question: how to I handle the cash the left oveer in my envelopes on my 1st paycheck bill tracker that though I did not spend, I will be using during the second half on the month. I hope my question makes sense. TIA

@Jenniferx-su6pw 3 жыл бұрын

I’m still confused lol . So budget is what I take out for the week? I have 4 Pay check

@bringingupbridges598 4 жыл бұрын

Where can I get one of these budget planning books?

@MJeanzy 4 жыл бұрын

Thebudgetmom.com. I think they are out of stock right now but you can sign up for an email when they are restocked :)

@andiebear17 4 жыл бұрын

You can also but the printable and make your own on her website!

@iammlyss 2 жыл бұрын

My monthly budget is always the same, rent, electricity, phone, internet with Disney plus included.

@deanazaharopoulos9420 4 жыл бұрын

How would you do this with multiple pay checks?

@thebudgetmom 4 жыл бұрын

You create a budget each time you are paid, and after each pay period you will fill in your actual amounts

@erikaramirez6558 4 жыл бұрын

Does “rolling over” cash count as a spend?

@Sara-qs8ps 4 жыл бұрын

n0, its income

@leahlapp6055 4 жыл бұрын

For your cash envelope spending, sometimes I’ve seen you spend more than your budgeted amount. But if you are only ever spending in cash, and that is a fixed amount, where do you get your money from when you go over budget?

@TheZannyD 4 жыл бұрын

Leah Lapp She sometimes pulls from other envelopes. In her June Budget Recap she talks about her Costco haul and how she needed to use money from other sources to compensate for her large purchase.

@MotivationMindsetU 4 жыл бұрын

where can you buy the tracker that you use?

@thebudgetmom 4 жыл бұрын

You can find all products in the shop >> shop.thebudgetmom.com

@MotivationMindsetU 4 жыл бұрын

The Budget Mom i think i saw which one it was but it says its not available and leave email to be notified.

@MotivationMindsetU 4 жыл бұрын

The Budget Mom so i was looking for the purple budget by paycheck workbook which im assuming is the one you use ? i put my email down for when it becomes available.

@luv2cook5 4 жыл бұрын

If your not a organized or detailed kind of person is it still possible to budget your money?

@jadiecakes3241 4 жыл бұрын

Definitely. This is only one method. There are heaps out there. The barefoot investor has a way more relaxed method for example (60% living, 20% long term saving, 10% spending, 10% i think was short term saving). It only takes me about 15min to sort out my budget with the budget mom method, but ive had my bills set up for years, so ive known for a long time what my after bill money is. You can also get various apps to help you out with the details as well (i dont use them though, but i know others do) which might help as well for tracking what you spend on.

@thebudgetmom 4 жыл бұрын

It's definitely best to have an organized method that works for you :-)