221-How to Budget When You're Behind On Your Bills and Stuck in the Middle of a Financial Emergency

Radical Personal Finance

Joshua J. Sheats, MSFS, CFP, CLU, ChFC, CASL, RHU, REBC, CAP

Finance, Retirement, Insurance, Business, Money, Education, Self-improvement, Financial, Independence, Growth, Advice, Investing, Family, Personal, Radical, Christian, Faith

4.4 • 1.9K Ratings

🗓️ 15 July 2015

⏱️ 38 minutes

🔗️ Recording | iTunes | RSS

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Summary

There are many ways to budget. All of us need to find a solution that is effective for us. And that solution will probably change as our situation changes.

Today, I want to share some advice on budgeting for people who are in a financial emergency.

Here is a very simple method of budgeting. It requires only:

a checkbook register
a notebook and pencil
a stack of all your bills
a calculator

Details are in the show!

Joshua

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Transcript

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0:00.0	The show has been kind of touchy feely, a little big picture.
0:05.0	And I'm concerned about that because this show is big picture, but it's also practical and tactical. And so today let's talk tactics and be extremely practical and here's the scenario.
0:21.7	You are in financial distress or you know somebody in financial distress.
0:25.8	That might mean that you just got laid off from a job.
0:28.8	Yet might mean that you're behind on your bills.
0:31.0	That might mean that something unexpected has happened or you've just woken up and realized that you're not very good with money.
0:37.0	It's okay.
0:38.0	Been there, done that myself.
0:40.0	I'm going to share with you today some ideas and some tools and some tactics that will help
0:45.6	you take control of the money that you have.
0:51.0	Get a pen, get a piece of paper.
0:52.4	This is an episode if you are ever in financial distress or you know anyone,
0:56.0	this is an episode to share with them. Welcome to the Radical Personal Finance Podcast. My name is Joshua Sheets and I'm your
1:17.5	host. Thank you so much for being here today. Radical Personal
1:20.3	Finance is the show where we talk each and every day about everything
1:23.4	that you need to know and more importantly everything that you need to do to
1:28.8	build financial freedom and financial independence in your life that might be a long way off, at least the idea that you can sit back and live on your investments.
1:36.9	That might be a long way off for you, but the idea of having control doesn't have to be a long way
1:41.2	off.
1:42.2	We're going to get to that today.
1:43.0	Thank you all so much for being here.
1:48.0	Like I said in the intro there, I want to talk about some practical stuff.
	...

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