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You can take a cue from George Washington by becoming commander in chief of your finances. What budgeting strategies have worked for you?

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Two Cents was created by Katie Graham, Andrew Matthews, Philip Olson CFP® and Julia Lorenz-Olson and is brought to you by PBS Digital Studios. We love dropping some knowledge on all things personal finance and helping you make better money decisions.

Two Cents is hosted by Philip Olson, CFP® and Julia Lorenz-Olson
Directors: Katie Graham & Andrew Matthews
Written by: Julia Lorenz-Olson
Executive Producer: Amanda Fox
Produced by: Katie Graham
Edited & Animated by: Nathan Bayless
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42 thoughts on “Budgeting Basics! | Onlyinvesting.info”
  1. As a young person about to go into the world of jobs and further education, this is extremely helpful. The entire channel you have going here is really helpfull to someone like me that dosent know how to spend money corectly or more accurately im just insecure about if i actually did make the right decision. Its like knoing you are being evaluated on something, but not getting to know what the evaluation says.

  2. I've been budgeting for 5 years now. Very rarely do i ever stay within budget, but i still managed to save to buy a home and am halfway through an emergency fund goal. Just because i don't reach the goal every month, I'm never too far away from it either because it really is hard to pull money from other places when it's already allocated.

  3. Such a great way to think about budgeting!

    YNAB is the definitely the best way to go about this while also implementing their 4 rules (Give every dollar a job. Embrace your true expenses. Roll with the punches. Age your money.)

  4. someone said to me
    90% of people dont have money, what are the 10% doing different?
    simple answer always is "they earn more money" however, they are all getting the same paycheck. so whats the difference then? of course, they spend less by checking deals, insurance etc

  5. I still live with my parents but my rule of thumb on more luxerious things is one, if you have to save for a vacation you cant afford it, two dont make any big purchases unless you know you are going to use that item on a weekly or daily basis, three starting out young every big purchase should go towards equipment or resources to further your career, when i do spend money on things it is almost insignificant, like 2 dollars every other day for fries at zaxbys, 5 dollars for a burger, and maybe 20 dollars wvery 4 weeks for a movie or something spightly nicers, but doing that I can make 100 dollars last 2 weeks

  6. as a rule, immediately after you get the salary, put aside your country's minimal wage for living expenses and everything else goes into savings. If you can't live out of min wage then it's a clear indicator you need some changes in your life and fast.
    Also pet expenses aren't living style. You chose to have a pet. Its essential expenses are yours too.

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