Welcome back to show 9 of the Money Ed Podcast, episode 5 of the 'Managing our Income' series... the last episode of this series!
This week we're going too look at budgeting and more specifically:
- What some of the common budgeting 'rules' are
- how understanding income affects our budgeting methods
- the importance of aligning your budgeting with your financial goals
The show really focuses on the importance of budgeting, but one of the most important takeaways is that whatever budgeting method you do - and it can be any one - you should always align them with your financial goals! While some budgeting rules may advise you to put a certain percentage allocation of your money into a certain category, it depends entirely on your own situation, never forget that!
As mentioned in the show, the link to last weeks episode can be found here
Likewise here is a great link to a further explain the 50/30/20 rule, created by Elizabeth Warren in her book called called "All Your Worth: The Ultimate Lifetime Money Plan."
Get in Touch
Email moneyedinfo@gmail.com
Follow us on Instagram The Money Ed Podcast
