"A budget is telling your money where you want it to go instead of wondering where it went." - John C. Maxwell
Chris revisits the household finances of Jim & Jane from the Know Your Savings Rate video. Using the same income and savings profile described in that last video for this family, Chris shares a look at where their money is going by way of examining their budget. With an examination of where dollars are going (or meant to go*) to meet Jim & Jane's current expenses, it is determined that there is an additional $500 available at the end of each month. The intentionality of where these additional dollars go - whether to strengthen longer-term savings goals (retirement, college, vacation property, etc), saving for a shorter-term goal (a vacation, new furniture, bathroom remodel, etc), or determining an appropriate amount to enhance current lifestyle - keeps your dollars (and yourself) accountable to the more meaningful financial priorities you have for your life.
Let us know your thoughts, questions, or if we can provide you with a budget worksheet by emailing us at firstname.lastname@example.org. THANKS for watching!