3/30/2023 0 Comments Mymoney mywayThis chapter introduces The Cash Envelope System, a way to budget that involves putting money into marked envelopes (such as grocery, gas, or pets) and using them as a way to track your spending. The ninth chapter starts with Michelle’s story and how she struggled at first, but later became a mentor to many members in the TBM group. This chapter is all about creating budgets that are sustainable and won’t lead you to burnout.ĬHAPTER NINE: Become an Intentional Spender The eighth chapter starts with Shonya’s story on how a rigid budge deprived her of everything fun in life, and how all of that changed when she found out The Budget Mom and learned how to properly budget the finances. But when you use a budget calendar, it will help you navigate through real-life situations with three steps: record money coming in, record money going out, and budget by paycheck. The seventh chapter starts with Casey’s story on how she had everything worked out perfectly on paper, but in real-life, it became a mess. A sinking fund is a strategic way to save a little bit of every paycheck to pay for planned large expenses.ĬHAPTER SEVEN: A Budget for Your Real Life, Not the “Perfect” Version this chapter also mentions a sinking fund: A sinking fund is for a planned, expected event in your life. There are three types of priority goals: short-term (1-3 years), medium (3-7 years), and long-term (7-10+ years). When discovering your priorities (big-picture budgeting items), you should always have a (kickoff) emergency fund to keep you afloat in case of unexpected things. The sixth chapter starts with the story about Tammie who learned from her father to get financial priorities straight. It’s about having balance in all three of those areas and you can do it by tracking your expenses, creating budget categories, and getting curious about your spending by self-reflecting.ĬHAPTER SIX: Discover Your True Priorities (When Everything Feels Important) ![]() The fifth chapter talks about two major factors that shape how we acquire, spend, and manage our money: learned behavior from childhood (from parental figures) and our personal experiences. There are a couple of types of spenders: The Recycle spender, The Hoarder, The Compulsive buyer, The Impulsive spender, The FOMO spender, The Magnify shopper, and The Bored buyer.ĬHAPTER FIVE: The $1,000 Manicure-and Highlighting Your Blind Spots The chapter follows the story of Cassie and how she managed to get her finances in order. The fourth chapter is about realizing what kind of a spender are you. Attach a visual to it so that you have a reminder.ĬHAPTER FOUR: The Real Reason You Buy (Hint: You Don’t Like H&M That Much) Start with a goal and then ask the next question (so what?), 2. The author gives a three-step process on figuring out your why: 1. The third chapter is all about figuring out your Why behind getting your finances in order. Kumiko tells the story of one of her readers, Ashley, and how she managed to reframe the question of “how much I need to save” to “what matters to me?” This is what made the difference in her approach and in her results.ĬHAPTER THREE: Start by Answering This Question It’s not about numbers and calculators, it’s about feelings and strategy. ![]() ![]() The second chapter talks about the scarcity mindset and how to change it to an abundance mindset. It goes through her divorce and how she managed to put herself together, becoming The Budget Mom.ĬHAPTER TWO: Money Anxiety Isn’t about Money The first chapter tells the story of how Kumiko Love came to the lowest point in her life, looking at her son who wanted ice cream from McDonald’s and not knowing if she can afford it. This section has three chapters and then Part Two, Make It Happen, continues with the eight remaining chapters.ĬHAPTER ONE: The Ice Cream Cone That Changed My Life The first two chapters are introductory chapters and then the book starts with Part One, Build A New Foundation. My Money My Way is divided into two sections and thirteen chapters.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |