How to Budget Without Deprivation – EP 186

Does the word ‘budget’ feel limiting to you? Does it seem like you won’t have any fun with your friends if you have a budget? It doesn’t have to be this way! We believe it’s possible to create a budget that makes room for spending on the things we value and afford the things we need. We’re here to flip the script and chat about ways to budget without feeling deprived.

Sponsors:

Our 7-Day No-Spend Challenge Workbook! You are about to be spending more money than usual so why not prepare with a no-spend week? We’ve created a free mini-workbook that will help you plan, execute, and reflect on your no-spend challenge so that after 7-days you know what you need to work on moving forward and you have an action plan to do so. So if that sounds like something you need head to frugalfriendspodcast.com/free to get yours.
Coffee. I’m a basic B and you better believe that as a basic B I love to work out of coffee shops that play basic B music and get my basic B iced latte lightly sweetened with vanilla. This experience brings me joy and I can name many things I don’t spend money on so that I can spend more money on coffee. Does that make me basic? Maybe. But you know what it doesn’t make me? Living somebody else’s subpar expectations for how I should live my life. Coffee. Get your latte boo.

Headlines

What the Internet has to say:

This article from Life Skills that Matter outlines various methods of approaching spending and saving and ultimately gives an excellent explanation of a frugal way of creating a budget that is simple and doesn’t feel like deprivation.

What Jen + Jill have to say:

Frugal method how to:
1. Make a list of fixed monthly expenses
2. Identify what from the list you can cut immediately
3. Negotiate a deduction for each your remaining expenses
4. Make a list of all your irregular monthly expenses
5. Choose 3 ‘guilt-free’ expenses (and look for ways to reduce the rest)

More from the Internet:

This article from Whole Family Living lists out 5 ways we can budget without feeling like we’re missing out or depriving ourselves of the things we want.

More from Jen + Jill:

1. Implement the SMART goal system for budgeting (specific, measurable, attainable, realistic, time-sensitive)
2. Spending freeze
3. Accountability partner
4. Make it FUN!
5. Utilize an accordion file (same thing as the cash envelope method…we think ‘eh.’
- USE Qube money – it’s a bank app with built in envelope system

BILL OF THE WEEK –

Thank you anonymous for sharing your bill about paying off your balance on your Lowe’s credit card! Woohoo!

AND thank you Kate from the UK for sharing your bill about moving and how YNAB has helped you budget and not be surprised by your moving expenses

If you want to submit your bill of the week visit frugalfriendspodcast.com/bill to leave us a bill

This bill is brought to us by Policy Genius, they make it easy to compare home & auto insurance in one place. They’ve saved shoppers up to $1,250 per year over what they were paying for home & auto insurance. Getting started is easy; head to Policygenius.com and answer a few quick questions about yourself and your property and Policygenius takes it from there. They’ll compare rates from America’s top insurers, from Progressive to Allstate, to find your lowest quotes.

AND thanks Ting Mobile for also sponsoring this week’s bill! Bring your phone, your number, and get access to the best nationwide cell coverage in America as well as Ting’s award winning customer service if you ever need help. The Flex plan is just $10 per month per line and you only pay $5 per GB of data you use. Or get unlimited data for $45 per month. Head to frugal.ting.com to get a $25 credit when you switch!

Lightning Round

Cool things we budget for

Jen- buying coffee out during debt pay-off, take-out now!
Jill- gum during debt pay-off days, food (take-out, going out) now!

Wrap-Up:

Thanks so much for listening! Keep leaving us reviews on iTunes or Stitcher, and sending the screenshot to frugalfriendspodcast@gmail.com AND share our most recent episode on social for a chance to win a copy of the Frugal Friends Workbook!

Thanks for listening! See you next week!