Quickcut: S2E175 Budget or Busted

It's a Good Life

Brian Buffini

Business, Unknown, Entrepreneurship, Life, Good, Entrepreneur, Coaching

4.4 • 2.4K Ratings

🗓️ 21 March 2024

⏱️ 9 minutes

🔗️ Recording | iTunes | RSS

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Summary

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“A budget provides peace and security.” — Brian Buffini

Whether you have more money in the bank than you know what to do with or you’re searching the couch cushions at the end of the month looking for spare change, you need a budget. Not only do the majority of people not have a budget, many fear even creating one! Creating a budget is nothing to fear; it’s an empowering activity that gives you total control over your money instead of the other way around. In this episode, Brian Buffini gives in-depth information to help you create a budget that works for your financial goals and circumstances. You’ll learn why most people don’t budget, how to prioritize your expenses and the apps that can help, and how to create a surplus each month, even if money is tight. By the end of the episode, you’ll be motivated to save more and build wealth.

Inspirational quotes from today’s interview:

“There is no amount of money that you will create that will be enough to not have a budget.” — Brian Buffini

”A budget is telling your money where to go, instead of wondering where it went.” — Dave Ramsey

“My problem lies in reconciling my gross habits with my net income.” — Errol Flynn

“If you aim at nothing, you’ll hit it every time.” — Zig Ziglar

“Plan your work and work your plan.” — Norman Vincent Peale

“What gets measured gets managed.” — Peter Drucker

“He who buys what he does not need steals from himself.” — Swedish proverb

“Do not save what’s left after spending, but spend what is left after saving.” — Warren Buffet

“A budget tells us what we can’t afford but it doesn’t stop us from buying it.” — Brian Buffini

“It’s not your salary that makes you rich; it’s your spending habits.” — Charles Jaffe

“Time is like money. The less we have of it to spare, the further we make it go.” — Josh Billings

“A portion of all you earn is yours to keep.” — George S. Clason

“Your business is the golden goose.” — Brian Buffini

“An investment in knowledge pays the best interest.” — Benjamin Franklin

“The best investment you’ll ever make is in yourself.” — Warren Buffet

Mentioned in the episode:

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Transcript

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0:00.0	Welcome to It's a Good Life with Brian Baffini, founder of America's largest business coaching company.
0:10.0	Here's a short classic cut from one of our all-time favorite episodes.
0:15.0	Today's topic is called Budget or Busted.
0:20.0	The goal setting, transform me,
0:22.0	personal growth, transform me, and and getting my financial house in order
0:25.2	certainly transform me so obviously we need to generate revenue we need a chance to
0:29.5	invest revenue but none of that really matters if there's a hole in the bucket and you need to
0:33.9	understand that there is no amount of money you will ever create in your life that
0:37.4	will be enough not to budget people say you know I'd love to never have to worry
0:41.6	about money again well there's a difference of being having anxiety over money,
0:44.6	which is most people have, and not worrying about money.
0:47.3	Because when I hear the word not worrying about money,
0:49.1	it means I don't have to pay attention to it.
0:50.8	People walk around with this fantasy land. If I win the lottery, then I'll be good.
0:54.4	No, we know the numbers. 87% of the people who win the lottery filed bankruptcy or are
0:58.6	economically worse off within five years. Are they stupid? Are they morons? No, they just didn't have the
1:03.7	economic structures in place. We won't coach a small business owner who won't have a
1:07.8	budget because we will not have our name associated as someone who's guaranteed
1:11.2	to fail. People struggle in this area, but a budget
1:15.2	is an estimate of income and expenditure for a set period of time. Very
1:20.9	important definition, because your budget will always change as your life changes.
1:25.0	But we all have a relationship with money, an emotional relationship.
	...

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