Be Prepared! How to Budget Like a Pro and Tackle Life's Expenses - Amanda and Rachel Whitbeck

Be Prepared! How to Budget Like a Pro and Tackle Life’s Expenses

Life is expensive, and managing your finances can be a struggle. What should you do when unexpected expenses come up? How should you save for your future? On this episode of Claim Your Career Crown, Amanda and Rachel Whitbeck discuss how to budget according to your circumstances and goals. In no time, you’ll be on track to tackle whatever life throws at you.

Watch our podcast with Amanda and Rachel Whitbeck to learn all about making a solid budget:

Debts and Savings and Expenses, Oh My!

First things first: Why is budgeting so important? What happens if you don’t have a budget? While you may have an intuitive idea of how you spend your money, creating a real budget can do wonders for your financial health. Knowledge is power, after all!

Amanda and Rachel talk about the kinds of things you should budget for. On one hand, this will depend largely on your current life situation, as well as whatever goals you have for the future. However, it’s also helpful to follow the 50-30-20 rule. What is that? Tune in to find out! They discuss everything from the costs of renting vs. buying a home, doubling down on student loan debt, and even budgeting for your business.

Next on the agenda is how to make a quality budget. What are your sources of income? What are you spending your money on each month? By looking at money in and money out, you’ll get an idea of where your finances currently stand. From there, you can rearrange things for a healthier financial budget. You may need to look into cutting back on expenses or being more diligent about saving. Rachel and Amanda each share tips on how to accomplish both.

Finally, they discuss the ways your budget can and must evolve over time. As your life circumstances change, as your income fluctuates or your saving needs change, so too must your budget.

Listen to our podcast for more on mindful budgeting!

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