FEBRUARY PAYCHECK BUDGET | Budget With Me + Budget Tips

Рет қаралды 102,902

Күн бұрын

Today, I am bringing you with me on my budgeting journey. We will be going over the paycheck that I received on February 1, 2021. I am a paycheck budgeter, which means I create a paycheck every time I get paid.
Before, I got paid on the 5th and the 20th, but now that I am self-employed full-time, I get a paycheck once a month, on the first day of every month.
In this video, I walk you through every step of my budget and give you the details into what it looks like to use a successful realistic budget is someone's every-day life.
By sharing my actual budget, I hope to show you the process and steps behind paycheck budgeting. I also hope it helps you understand the psychological decisions behind money management.
CHAPTERS
00:00 Intro & My Process
02:28 Starting Balance
02:43 Income
03:37 Fixed Expenses
05:55 Variable Expenses
07:16 Sinking Funds
11:28 Cash Envelopes
21:08 Conclusion
➡️ MY WALLET (Affiliate): bit.ly/36QC4s7
➡️ BUDGET BY PAYCHECK BOXED SET: bit.ly/3tApEyg
➡️ SINKING FUND CASH ENVELOPES: bit.ly/2N2SVAO
➡️ VALENTINE'S DAY CASH ENVELOPES: bit.ly/2MxSfnv
➡️ 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: 160

@mirainoivuyo984 3 жыл бұрын

Can you have Ryen do a video like this or do a mock budget for someone who gets paid bi-weekly or semi-monthly? I think you put it on IG, but I hope that you make one for KZfaq as well. Your system is budget by paycheck but in your case, you also get to budget monthly because you get paid on the very first day of every month so you have all your income to use to cover your monthly expenses. Most of us don't get all our monthly income on the first of the month so we have to use the previous month's income to pay for the bills that come earlier in the month. And then we have to wait for a second paycheck to cover the next half and next month's early bills. You get to encapsulate everything in one month and it looks so nicely listed and organized but for those who have to budget by paycheck, the months get all mixed up.

@kionchristian 3 жыл бұрын

I was going to suggest the same thing! 🙂

@KimEsCreations 3 жыл бұрын

In her old KZfaq videos she has her old paycheck budgeting videos from when she was getting paid twice a month and her steps of doing it with her old worksheets if that helps 😊

@laurenann1834 2 жыл бұрын

Yes every two weeks I get paid I would like to see that. As well

@melissadaniels5745 3 жыл бұрын

I would love to see this type of video with someone who is paying off debt and how to decide what percentage to put towards debt and how much to put in your sinking funds to keep from using debt.

@edimops7285 3 жыл бұрын

Saturday mornings are turning into a new ritual for me: a cup of coffee and a YT video from Miko

@cg07462 3 жыл бұрын

Thank you for the refresher! Ive never been this motivated to do a budget! Thank you for the inspiration!🥰

@pollydolly9723 3 жыл бұрын

Always good to get back to basics for old and new followers! Thanks Miko ❤️🇨🇦

@tammymatix8040 3 жыл бұрын

I’ve been using this method for two years and this was a great refresh. Great tips Miko!

@magreyeyes 3 жыл бұрын

What a great reminder, ive been slacking on my budget; overspending and forgetting my goals. I'll be doing this up again.!!❤️

@sproutedplanner 3 жыл бұрын

This was beautifully comprehensive and helpful. I was confused about how to incorporate my cash spending into my income budgeting - now I know. Thank you, Miko!

@DearDebt 3 жыл бұрын

This is such a great back to basics video. Thank you for sharing!!! 😍🥰❤️🥳

@budgetsavinggenie3348 3 жыл бұрын

I love all ya videos and old ones too . Thank you for changing the wad I spend and look at money xx

@MichelleLyn84 3 жыл бұрын

I spy a new tattoo sleeve!!!! Absolutely beautiful! I am not on social media so not sure when you got it but I love it 😻

@staceyrothchild3450 3 жыл бұрын

I'd love to see more of these beginning of the month videos as well as the budget close out at the end of the month. This was great insight and definitely helps in getting set up with the method.

@sctjeanlouis3 3 жыл бұрын

I missed YOUR monthly budget overviews. Glad that you did it again here on YT. 😊

@mmiserabelle 3 жыл бұрын

Yay. Been waiting for new video all week. Hope you'll upload January recap soon. Your budget recap is always my favourite

@livinglifewithsummer 3 жыл бұрын

Thank you for the detailed explanations! Your system is changing my life. I’m one month in and already seeing lots of progress!

@HeatherEM 3 жыл бұрын

THE most helpful video I’ve seen on this topic. You made it so much less intimidating 🙏🏽 Thank you!

@stephaniesmith4831 3 жыл бұрын

Thank you so much for doing another video like this! When I started TBM a year ago, these are the videos that helped me learn the most.

@Birdmom1823 3 жыл бұрын

Thank you for this video! Wasn’t having a good day but watching this makes me feel better. Very therapeutic for me 😊 💜💙💜💙💜

@kileyrobinson2550 3 жыл бұрын

Thank you!! I needed a refresher on setting up my budgets! And I was wondering...can Ryen do a video like this too? I know her budget setup is a little different than yours! 😁

@mireyabender1503 3 жыл бұрын

Love!!!! I was following along with my BBPW! Needed some inspiration! And I LOVE the new Valentines envelopes ❤️

@l.m.schmidt5363 3 жыл бұрын

Love the refresher! Thank You.

@CreativeThinking52 4 ай бұрын

Very informative video. Thanks for sharing. Have an amazing day. 👍

@magm9719 3 жыл бұрын

Thank you so much Miko for this video!! I just received my workbook and planner last week and needed this video to really see how you’re setting up your budget! I’ve been using the expense tracker so far and can’t wait to use the whole workbook! And the LRP is amazing! Exactly what I needed!!! Thank you for all you do!!🙏

@TheBohemianStyle 2 жыл бұрын

How is it coming along? I just ordered and I expect to start in the new year. For the past couple of months I’ve been using a notebook and opened with a new bank that have zero fees for transfers.

@charlotteechols3035 3 жыл бұрын

The cats will always want to photobomb. Thank you for going into such detail about the whole process.

@m.x.0987 3 жыл бұрын

I love your videos and how you take the time to explain everything. High five for your hard work!

@crystalreed1319 3 жыл бұрын

Great details in this budget video. Thanks as always for your information. It is so helpful. I love how you showed to use your Valentines sinking fund as income for this month. Thanks again for the final piece of mind. I now understand where my money is going better than I ever have. Ready to invest more.

@vanessaurbina3602 3 жыл бұрын

Love your videos! I always wondered how you accounted for the cushion you leave in your checking, now it makes sense!

@nicolearguin8245 2 жыл бұрын

Thank you for this!!!!!!! I've been using this for over a year....and had been wanting a refresh! :)

@Vividre09 3 жыл бұрын

This is great! P.S. your sleeve looks AMAZING!!! 😍

@marypflug977 3 жыл бұрын

I just came over from Kate Kaden and I'm so glad I did. This is wonderful!!! Now I want to set up cash envelopes.

@michellemorales401 3 жыл бұрын

Very good reminders!! I miss these budget videos! I was actually transposing a step, which explains why I had to go back and adjust my numbers! I was paying extra debt BEFORE variable spending. I'll be fixing that PRONTO! Haha 💙💜💙

@83ladygaga 3 жыл бұрын

Definitely liked this updated video on budgeting your paycheck still trying to get the hang of it just started last month.,

@teresawatson6401 3 жыл бұрын

Thank you for this info. I found it very helpful in learning how to set up our budget. My husband lost his job last April and has been unable to get another yet, so we are living on a very tight budget and have been struggling to make our current income work. I feel that your system will help tremendously.

@silviacerda8042 3 жыл бұрын

Been waiting for this video all week! 😍

@andreabenavides7065 3 жыл бұрын

Thank you for this. This will be more helpful for me to budget then the recap.

@soulfullysarah4367 3 жыл бұрын

Thank you for briefly speaking to the cashLESS cash envelope system. I've been trying to navigate how to use this system in a predominantly cashless way with the cutrent nature of online buying and curbside order pickups due to COVID-19 (not going inside business unless it'sa dire need). This helps shed some light on how I can go about a cashless system while still stating within the guidelines and merit of the cash envelope system/zero-based budgeting (it's surprisingly hard to find resources on cashless versions).

@jenniferajanel5746 3 жыл бұрын

I loved this video very insightful and has given me new ideas and inspiration

@elainecarrillo5434 3 жыл бұрын

This was very helpful thank you for making this video! Love ur channel!

@Tina_and_life 3 жыл бұрын

With the Valentine sinking funds, should you be adding it as income? It was already income when you received the cash and then withdrew it. Are you not duplicating the amount then as income?

@thenewbiemom2176 3 жыл бұрын

Miko...I fell off the budgeting trend, but I am determined to get back. Thanks for your motivation.

@SADEONTHERUN 3 жыл бұрын

Amazing video! So helpful, thank you Miko and Ryen (and kitty lol)

@Aztecadr 3 жыл бұрын

Oh my. This vid is so helpful. Than you

@IntentionalMillennialBudgets 3 жыл бұрын

Thank You, this was much needed 🙂

@aleksandrastokic3951 3 жыл бұрын

😂😂😂😂 LOVE THE END OF THE VIDEO 👏👏💕💕LOVE IT💕❤️❤️❤️ thanx 🙏✨ Kumiko for everything you do here on this channel... It's really helpful and inspiring 🙏 Greetings from Vienna

@jenlibertowski3984 3 жыл бұрын

Very detailed and helpful!

@luvlee622 3 жыл бұрын

The review is really nice. Thanks 😊

@Erica_1021 3 жыл бұрын

Thank you for this video!

@jacquelyn6799 3 жыл бұрын

The exact video I needed to see!

@arahennaofficial 3 жыл бұрын

Thankyou for sharing to control the budgetting & i have a lot of learned from you & some ideas ..😍😍🥰🥰 Always watching from Philippines.. godbless you & your family always..

@keekeesdaily 3 жыл бұрын

A well informed video. Could you please make these for the rest of the booklet. Would really help to see how the rest of the booklet works. Thank you!!

@malissahuff6638 3 жыл бұрын

Thank you I love thatvyou are doing this

@janetgomez4145 2 жыл бұрын

Loved it. Thx.

@allisgrace1313 3 жыл бұрын

Helpful! Thank you!

@theknockoutplanner346 3 жыл бұрын

Love your system! I’ve been using your BBP Workbook for at least 2 years now... if not longer.

@janecaccioppo1050 2 жыл бұрын

Very helpful! Can we see more of your budget.

@levelpropertymanagement5915 3 жыл бұрын

I have been sticking to this and it works so well- $2000 saved so far

@nerdhasenteredthechat 3 жыл бұрын

Love the pets at the end. What kind of pup do you have? Thank you for the video! It’s motivating me to really stop making excuses and just to get down to it.

@valeriebabbe7681 3 жыл бұрын

I have been using the method for about a year now. At first it was little hard to get us too this method with our family but over time it get easier. For example this year was frist our family used cash we saved for Christmas. In years past we use to pull money from our savings. It was good feeling knowing that we didn't have pull money from our savings this year. This method has change how our family spend our money along how we are handling paying off our debt. ❤️❤️❤️

@taylorlane127 2 жыл бұрын

I NEED this book!!!! So user friendly.

@Reina623 3 жыл бұрын

Thanks Miko, this helps.

@deedrakupolati2796 3 жыл бұрын

This is my 3rd time watching this. I am sick of the month outlasting my money.

@pauladeviveiros1448 3 жыл бұрын

This was a HUGELY helpful video!! You're helping people change their lives by taking a hold of their finances! Loved the bloopers at the end LOL - "You and your mad face - GO!" LOL Also HOW BIG IS YOUR DOG?? LOL

@fashionablebri 3 жыл бұрын

Would love to see more cash stuffing videos! 💕

@candys030 3 жыл бұрын

thank you! It really hep me understand :)

@MrsLiegey 3 жыл бұрын

I understood this better in this video than the older videos. Maybe because I’m at the point where I’m ready to get my life together...lol!!!

@Stylevloggers215 2 жыл бұрын

I appreciate the realistic grocery fund In this content

@mohair57 3 жыл бұрын

Hi, appreciate everything you do! Have a question how did you determine the amount your cushion should be? Also did you create a draft first of all your bills, variable spending and savings before you actually put in your workbook? Could you make a video that shows how you went about that with your budget so I can get an idea how to go about that my self. Thanks so much! You are awesome!

@NicolaatTheFrugalCottage 3 жыл бұрын

Not been this early before! Love your budget videos :)

@thebudgetmom 3 жыл бұрын

Thank you!

@MunsonCustomBeadwork 3 жыл бұрын

Hey girl! My husband and I just moved to Spokane Valley. His job is based on bids, anywhere between $25-$45 an hour, 8:00-4:30 Mon-Fri. Our bills total to $1,750, and his paychecks vary. Have any tips (besides saving most of whatever is leftover, we will be doing that!) on how to make sure we stick to our budget? We write it down, calculate, and still we’re either under or right at our budget. I’d like to save $500 each month for our daughter’s schooling, she will be 2 in April. Also, love your videos!!!! You have saved us financially! God bless 💜💜💜

@thefinanceadventure7917 3 жыл бұрын

Love your budget journal! Have you ever thought about going digital with an excel? It's a direction that I've gone with on my budget videos! (:

@rebeccajohnson2485 3 жыл бұрын

I wish there was something higher than a like to give for this video! is there a way to do this as a mock budget for weekly paychecks? This was AMAZING Thank you SO much!

@HoneySnowflake 3 жыл бұрын

Thanks for the tips! Side note:Has nothing to do with budgeting, but I absolutely love this hair color on you(I'm not sure if its your natural color,either way it looks so good).😊

@trajaunajohnson8357 3 жыл бұрын

Thank you 😇

@IoneEvans 3 жыл бұрын

Nice breakdown

@brianneholmes6547 3 жыл бұрын

Thank you!

@lauraaldrich1790 3 жыл бұрын

hello miko! you are such an inspiration and source of hope for me. thank you. i especially love that you are a mom. i'm a 62 year old disabled woman with a long story. what i would like to know is how to make a submission for your real life budgets using real people's numbers. i think mine might be interesting to your subscribers. i know there are probably many others like me in my situation. pleasant days and travels. sammy's mama

@Maye2k01 2 жыл бұрын

Such an informative videos I’ve been thinking about trying it out. I have one question how do you determine the amounts for your cash envelopes?

@Bolletjehopla47 Жыл бұрын

Hi Kumiko, thank you for this clear explanation. I have been binging your videos the past week to learn to make my own BBP. I love your method and I really love the non-jundgemental way you discuss peoples budget. I dived into this video and started comparing it with the recap for the same month, to get more insights. But doing that left me puzzled. I see no variable budget for James. Is that somewhere else? Also the amounts budgeted in this video are not the same as the ones mentioned in the recap. I hope you can enlighten me.

@asmaebarhomi9533 3 жыл бұрын

Hi Miko! Thanks for the video, so helpful! I just wanted to ask, what about the TBM 2021 savings? Do you budget that within your budget or you do that separately?

@anaservellon4304 3 жыл бұрын

Where can I get those envelopes??? Those are really helpful. I just found your channel and I really like it 😊

@amygarza1571 3 жыл бұрын

Are you using the tracker that comes in the box set in this video? I really like what you are using, but I want to make sure it's the correct thing before I order! Thanks

@courtneygregory952 3 жыл бұрын

I am in love with those nails! Can you share what colors they are?

@sleepbootbianca 3 жыл бұрын

Dear Mike, I want to thank you for your very well explained budget video!!! One question remains for me: how do I budget online-purchases? For example: I set aside money in a sinking found for my wife’s birthday. Once a month I take that money from the bank and put it in a separate cash envelop. But than she wants something for her birthday that I can only purchase online..... Her in The Netherlands it costs money to have multiple accounts and putting cashmoney back to your account als costs money and is physical not really duable because there are just a few bancs left that have those machines. (We hardly haver any bancs left here where they actually have employees that serve you......) Do you have a solution? Thanks in advance!

@jasminestewart9331 3 жыл бұрын

Congrats on your pay raise! How do you handle raises when it comes to your overall monthly budget?

@logan16wol 3 жыл бұрын

What's the difference between the LRP and this book you are using? Love your videos!

@chloejimenez475 3 жыл бұрын

Great video! Do you save for retirement at all? Curious where it sits on your budget?

@chuchomaui4263 2 жыл бұрын

I just got my 1st budget by pay check book. Which is the best video to watch to get me started?

@pixie0714 3 жыл бұрын

I put my roll over cushion account as income every month.

@meganturquoise474 3 жыл бұрын

Miko, what category does your cushion go under for your monthly budget breakdown? Also I basically do weekly budgets as my husband gets paid weekly and I get paid biweekly. When I tried to budget rollovers, when the previous week was zero based budgeted with no rollovers, it would throw off my monthly breakdown and wouldn’t add up until I took out those budgeted rollovers. Am I doing this right?

@carmencastillo3692 3 жыл бұрын

The bloopers!!

@anwlaw 3 жыл бұрын

What is the extra cash you have in your wallet but not in an envelope? Would love to see a step by step on how you do your tracker in the budget notebook

@leahmcdermott4189 3 жыл бұрын

I love the layout and budgeting book but this seems just confusing. You have a great income, do you save a lot of it? There’s a lot of expenses and sinking funds but I didn’t hear anything on savings and investments? Loved the video 💕

@Lauren-se3kr 3 жыл бұрын

I see there are investments on the fixed expenses lists but yeah maybe Kamiko can talk us through what she uses for investing

@kristinehammerengen5899 Жыл бұрын

Hi Do you use your cushion for your bills incase they are hayer then expected and your emergency found when you gett an unexpected bill or something like that? Thank you for the inspiration =)

@PlaninProgress 3 жыл бұрын

I noticed from your last video that you track retirement savings / investments outside of your budget and income that you put in your tracker. Is it better to keep it separated?

@samanthavail2023 3 жыл бұрын

I’m here early!! Hiiiii 😁

@thebudgetmom 3 жыл бұрын

Hi! Thank you so much for watching! I hope it helps!

@ceec215 10 ай бұрын

Where do you get the variable numbers from...assuming previous month, but from which one of your budget pages?

@lindsayellis8508 3 жыл бұрын

So curious about how you would suggest I do budgeting for us. My husband is a taxi driver and comes home daily with money. So we have cash for everything.

@chepan83 3 жыл бұрын

I actually create a rough draft of my budget in advance too.

@taylorphillip6034 3 жыл бұрын

Been waiting for this video! Just started with the bbp method for my last paycheck in January leading into February and I messed it all up lol so I’m looking forward to getting it right next time....

@Knadine1 3 жыл бұрын

Me too! But at least I’m doing it, and every month will get better.

@taylorphillip6034 3 жыл бұрын

@@Knadine1 yes it will! We got this!!!

@lindagilpin5415 3 жыл бұрын

Same!!!!

@maribethheggarty5163 3 жыл бұрын

I need help. After year #1 using the budget by paycheck workbook I feel that I need to recategorize some things. I have a body/beauty category and a clothing /house category (Not for mortgage or repairs. More like things for the house, ie towels, laundry detergent; lamps etc). I buy a lot of different things at Target and on Amazon, should I be breaking those lines up by what I’m buying. Ughh. I have so many questions. 😫 I’ve watched every video and have started from the beginning again but this is something I’m really having trouble with.