Be The Master Of Your Budget

Life Kit

NPR

Education, Self-improvement, Health & Fitness, Business, Kids & Family

4.5 • 4.9K Ratings

🗓️ 7 November 2019

⏱️ 21 minutes

🔗️ Recording | iTunes | RSS

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Summary

To many, it's a dreaded task: making a budget to keep track of money. Guess what? You can do it, and we show you some tools that can help — maybe even make it fun. The founder of the popular budgeting software You Need A Budget tells us how to track your spending.

Here's what to remember:
- Don't budget just because you should: Set a goal.
- Leverage anxiety from a life change and turn it into motivation.
- Follow the 50-30-20 method.
- Use the power of scarcity.
- A roommate is worth 1,000 coffees.
- Find the budgeting technique that works for you. Here's a worksheet to get you started: https://bit.ly/2umlqex.

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Transcript

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0:00.0	budgeting that word alone. I mean, it sounds awful, right?
0:04.0	Keeping track of everything you spend money on, joyless spreadsheets.
0:07.8	Oh, um, hang on guys, I just got to enter this beer and my share of the nachos into my budget app.
0:13.3	I mean, who wants to deal with that?
0:15.6	But if it's such a drag though, why are some of you talking about budgeting like this?
0:22.0	I have had such a positive experience budgeting recently.
0:26.5	And I am a budgeting wizard.
0:30.0	I'm actually super jazzed about it.
0:31.8	Um, it's like all I want to talk about.
0:37.8	A budgeting wizard.
0:39.5	I love that guy.
0:40.3	Super jazzed.
0:41.2	All they want to talk about what is going on with these people.
0:44.0	What is their secret?
0:48.4	This is your NPR life kit.
0:50.5	This episode budgeting, we're going to figure out how to join this party.
0:55.1	How to convert a dreary anxiety producing emotionally fraught task into something
1:00.6	comparable and powering and maybe even fun.
1:04.0	We're going to learn how right after this.
1:17.8	I'm Chris Arnold and I cover personal finance for NPR.
1:21.4	And in this episode, we're going to give you six tips for setting up and sticking to your budget.
1:26.1	And our first big takeaway call it tip number one, you need a goal.
	...

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