How to Budget in Your 20s

How to Budget in Your 20s // How to make your first budget

In this video, we're going to give you some methods for how to start budgeting in your 20's, because if you have dreams and want to do cool things... you're gonna need a budget!

0:33 - How old Alex was when he made his first budget
1:05 - How old Phillip was when he made his first budget
1:45 - Budgets aren't only for broke people
2:00 - Why women are the best
2:30 - How long Alex stuck to his first budget
2:48 - How long Phillip stuck to his first budget
3:40 - How Phillip fell off the budget wagon
4:00 - ACTUAL CONTENT STARTS HERE 😆
4:01 - How budgeting can help you be successful
4:30 - Spending & Saving can help you have a better adult life
5:00 - It's more than just buying a house and retirement
5:22 - You need to track your spending no matter how much $ you make
5:38 - How to track expenses with a debit card and color coding
6:50 - How to track expenses if you're only using cash
7:15 - What to do after you've tracked your expenses
7:39 - The 50/30/20 Rule Explained
8:20 - How to tackle your debt in your budget
8:50 - How this method provides guidelines even if you don't follow it
9:35 - Tracking your spending going forward
9:55 - Your budget will always be changing
10:15 - Apps to help track your spending
11:50 - If you're old school and don't like apps...
11:59 - The cash envelope system and how it works
13:20 - The more time you put into a budget, the more likely you'll stick to it

📲 DIGITAL COURSE: Rethink Financial Education 101
www.rethinkfinancialeducation.com/online-course

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We teach you what you need to know about your personal finances, using words you understand, without boring you to death... because adulting shouldn't suck.

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#budgeting #firstbudget #budgetingforteens