3 Budgeting Tips

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Today I want to talk about 3 budgeting tips to help you get your money in order. 

But first, Let me ask you a question? 

The question is, how do you as a 401k or 403b participant become a 401k superhero to your future self? 

That is the question and these videos will give you the answers.  Hey I’m Jonathon Schultheiss and welcome to the Becoming a 401k Superhero Videos.  

If you’re like most people, you don’t give a lot of thought to how much money you have until you get to the end of the month. 

Some of us who are numbers nerds, we watch ever dollar as they come in and go out.  Others of us just hope that we have something left over at the end of the month. 

When I think about this I’m reminded of a famous quote that I put in my book, Focused: the Financial Freedom Formula. 

It goes like this:  “If we command our wealth, we will be rich and free, if our wealth commands us, we are poor indeed.” 

You see, the only way to get a head in your finances it to take control and not let you your finances control you. 

So here are three tips to help you take control of your finances to help build your wealth and become a 401k superhero to your future self.   

 1.      Use the cash envelope method.

This is good for those who have a spending problem.  If you set aside your monthly spending amount in an envelope and when that envelope runs out of money, you stop spending.   This will insure you don’t over spend. 

 2.      Use a spending tracking app like Mint.com

Mint.com is a free tool that you can set up that will track all your spending and show it to you right on your smart phone.   This will also allow you set budgets and send you alerts when you’re spending goes above your budget. 

 3.      Write down everything you spend

I know this sounds like a pain, the magic of this tip, is that is a pain.  If you will actually write down every time you spend money, you will start to see and feel the money that you are spending.  You’ll start to think, do I really need to buy this.  After a few short days of writing everything down, you’ll start to see exactly where you’re money is going.   

Remember, things that are measured, can be improved.  If you measure your spending, you can cut out the senseless things and take control of your money.  Taking control of your money is one of the best ways to become a 401k superhero to your future self. 

Hope you’ve enjoyed this video.  If you would like a free electronic copy of my book, click on the link below and download your free copy today!