💵 SoFi Checking & Savings (Up To $300 Bonus):
🖥️ Get My FREE Budgeting Template:
In this video, we’re looking at how to budget and save money! I’ve been budgeting for the past 5 years by using this budgeting template that I created, and it’s helped me out a ton. Before creating my budget, I never really understood how to save money because I had no clue what I was spending. But now, I’ve been able to go from saving 0% of my income to saving 80% of my income by tracking everything and implementing 4 money frameworks which I’ll go over in this video.
The best way to look at budgeting is to treat yourself like a profitable business by looking at your income versus your expenses. To do this, you need to track your spending habits for at least 2 to 3 months to know exactly how much you’re spending in different categories. Then, you can adjust those categories in your budget by focusing on reducing your largest expenses to save money. After you’ve optimized your expenses, then you can start to focus most of your time on increasing your income because your income can be unlimited.
However, to save money and increase your monthly savings rate, it all starts with managing your expenses and budgeting first. Hopefully this video and my budgeting template can help!
LINKS MENTIONED:
💵 SoFi Checking & Savings: Get up to 4.60% APY, pay no account fees and earn $300 when you sign up and set up direct deposit. Terms apply. *affiliate link
🖥️ Get My FREE Budgeting Template:
OTHER USEFUL LINKS:
💳 My Top Credit Cards:
💻 CardPointers:
🛒 Get a $30 Bonus With Rakuten:
📈 Up To 15 Free Stocks With Moomoo:
🔥 My Andar Wallet (Code “BRAUN15” for 15% Off):
FOLLOW ME on Instagram:
CHECK OUT SOME OF MY OTHER VIDEOS:
▶️ How Much YouTube Pays Me (with 100,000 Subscribers):
▶️ The 9 BEST Travel Credit Cards of 2023 (Ranked):
▶️ You’re (Probably) Killing Your Credit Score:
▶️ What I Spend In A Week With 16 Credit Cards:
▶️ How We Got $27,300 of FREE Travel With Credit Cards:
▶️ The 6 BEST Bank Accounts of 2023 (High Yield):
DISCLAIMER: Some of the card links and other products that appear on this website are from companies which Daniel Braun will earn an affiliate commission or referral bonus. Daniel Braun is part of an affiliate sales network and receives compensation for sending traffic to partner sites, such as CreditCards.com. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). This site does not include all credit card companies or all available credit card offers.
The content in this video is accurate as of the posting date. Some of the offers mentioned may no longer be available.
I currently have a checking account with a home based bank and am looking to switch over to a HYSA with checking account. How does it work with using checking accounts with those companies you've listed such as debit cards since these are not physical branches. Is it worth having a separate checking account still open with a "normal" bank?
Thank you so much for sharing the template with us. 🤝🙏
Thank you very much. I had no idea how to even start.
is this available in google sheets form?
I've been doing a similar style of spreadsheet budgeting for 3 decades…. I've never been able to save 80%. Little unrealistic for almost everyone
This has truly given me a clear and focus mind on where my money is going.
thank you 🤑😁
Hey man I love this template, would there be anyway that you could send me this template!
Looking so forward to your Excel, thanks for offering it for free to US ❤
The link for the free template isn't sending me a copy of the budget sheet for some reason. Is anyone else having this problem?
thanks for sharing!!!
"SumIF" was the missing key for my budgeting sheet
Thanks for this Daniel.
No matter how much I tried to save, I always seemed to come up broke.
I'm going to implement this and check it every day to start really tracking everything and understanding where my money is going.
My goal is to get the money I currently have under control via a budget, and then focus on increasing my income.
Many thanks again. 🙏
when do you set you expense columns to start a new month sense I get payed on the 15th and the 30th of every month.
Thanks for XL – easy peasy….appreciate it!
Do you track debt payments?
You right
Where do you get the budgeting template from? I would like to use exact same one
It's easy to save 80% if you make over a certain amount
Keeping up with current trends and strategies can help traders stay ahead of the curve and make informed decisions, It is important for beginners in trading and investing to understand that success in these fields requires technical analysis, emotional maturity, and self-discipline. Thanks to Meghan Rabuse insights, daily trade signals, and my dedication to learning, I've been increasing my daily earnings. Kudos to the journey ahead!
Hey Daniel is it possible to share that excel spreadsheet template?
How would I change it to pounds?
Can a similar budget system be made on a simple word document rather than an Excel document if you can’t access Excel?
Or can a similar budget system work on a MacBook using the Apple Numbers program?
My problem. I’m using your template, but I want to be able to know how much am I able to spend for the week, and how much do I save ? I get paid weekly.. I’m not sure if I’m understanding the template correctly
Thank you. Finally got my ass budgeting at 26 years old. Great video, great tips, great editing, great delivery.
This is the best advise I've heard on personal finances. What has taken me years to finally understand in a way that allows me to make adjustments to the way I spend my money, you explain perfectly in 16 mins. Good stuff!
How to save 80% of your income :
Make enough money that all your bills only cost you 20% of your income.
This is a great video. I know that money means having to budget for rent, utilities, phone bills and groceries, but most people tend to forget that the food and diet aspect of budgeting (i.e. groceries) is very important. After all, if you're out of shape, there's a higher risk of getting disease. So, in the end, you'll pay more for medical bills. It's true when they say, "Health is wealth."
Im glad you mentioned the 80% saving due to youtube…. To many BS videos trying to downplay Youtube which leds to false expectations. My savings rate is 46-50%, and i found it hard to do.
Question
On the budget, What category do you put the tax preparer fee?