Most people that decide to try budgeting wind up making a fatal flaw, they do not budget for the mundane. Getting your car tagged and inspected every year is non-negotiable, you have to do it. Yet, people do not include these types of expenses in their monthly budget. Instead, they get caught off-guard a month before having to fork over the money.
Episode 3 teaches you how to find your true monthly expenses and then provides visibility if you are really living within your means. This episode is critical to fully fleshing out the categories in your new budget plan. Don’t let these mundane “bills” like haircuts, tolls, automotive upkeep, and HOA dues creep their way into your wallet. Budget for them ahead of time.
On the subject of living within your means, I highly recommend the book, “Mr. Rich vs. The Joneses: Living Within Your Means” by J.J. Logan. It teaches the impact of social pressures on your finances and how to break free of them to obtain your financial freedom.
By undertaking the exercises discussed in episode 3, you may find out that you live more lavishly than you can afford. Mr. Rich vs. The Joneses is packed full of inspiration and real tips you can use to get your expenses under your income.