Money Disappears Too Fast After Payday? Try This Simple Spending Budget Plan | 469

0:00Most people are still living like they're 18 with one account where everything goes in and out of paychecks drop, bills hit, Target runs, Starbucks runs, gas fill-ups, it's all tangled together. No wonder why their money is just disappearing. Yeah, but what if you stopped stuffing everything into one messy junk drawer type account and started separating your spending? Suddenly, you know exactly how much you have for groceries, how much you have for eating out, how much is for personal fun money, without tracking, without guilt, and without constantly checking your balance. Yeah, that's what we're diving into today.

0:30How to simplify your spending by separating your spending so you actually have the freedom to spend. Do you make good money but have nothing to show for it? Are you tired of living paycheck to paycheck? Do you have big dreams for your financial future? Do you want to get debt-free but you don't want to live on beans and rice? Or you don't want to give up those pumpkin spice lattes? Hey, it's okay if you don't already know how to budget or if you're using credit cards to get through the month. Hey, it's okay if you want to seem like you have your finances all together or you're not on the same page with your spouse when it comes to finances.

1:01We know what you're doing probably isn't working, but guess what? You're in the right place. We're Shana and Vanessa. We're best friends, business partners, and master financial coaches trained by Dave Ramsey. We've been in business since 2019, helping hundreds of amazing people like you create budgets, get out of debt, stop living paycheck to paycheck, and know exactly what to do with their money. In this podcast, we'll share with you everything we know, plus everything we're working on with our clients so that you have the best chance at reaching your financial goals. We want to help you take the guesswork out of your budget, improve your marriages, and even bring your kids in on the conversation.

1:36We can help you no matter where you're at, whether you're the single mom who's never had$500 in her savings account or the millionaire who's paid off four real estate mortgages. And we're not going to shy away from the tough love. We'll tell you what you need to hear and encourage you at the same time. This is the Financial Coaching for Women podcast. So today we are getting into step four of our series, The Budget Besties Method. And today, as you heard in the intro, we're talking about separating your spending. So it's story time, y 'all. Let's get into a little story. It is. All right. So we have sweet Lisa here.

2:09She's been looking forward to this all week. She finally had a little me time. She had some money set aside,$100, right, to be able to get a pedicure and have a coffee date with her girlfriend. Yep. Yep. And so after a long week of errands and work and being Uber mom, hey, we feel that. This is her moment. It's so exciting. But then Thursday happened. Whoopsies, whoopsies. That morning, as she was getting her kids ready for school, her first grader waved a piece of paper in her face. Hey, mom, it's the 100th day of school tomorrow. We're supposed to bring a treat. Of course it is. I mean, yeah, she had totally forgotten.

2:42So a quick scroll through her mom group chat and it was like, yeah, everyone's been planning this for weeks. She's super behind. I relate. I relate. Yeah. So with no time to bake or anything, like she had – she couldn't even have time to pull up her Pinterest to get anything, right? So she grabbed her purse and she made a target run. So there was$15 that she spent on cupcakes and a last-minute T-shirt that had like 100, right, bedazzled on the front. Yeah. Good job. You did a really good job. She did great. Nailed it. Check. Okay. No big deal, though. That's only$15. Still have plenty left for pedicure and coffee with her friend.

3:14Then – raise your hand if you relate. Vanessa, raise your hand. Oh, yep. Okay. Then came the basketball game. Her son's team won in a nail-biter. We have seen that. We've been there. We've done that. And, of course, somebody else decides to spend your money for you. I love that for us all the time, right? And so they decide we're going out to dinner afterwards, right? Great. And, of course, she didn't want to be the mom that said no. So she went. She covered her son's meal and a milkshake. I mean, hello. He scored some points and grabbed something for herself. So guess what? There went another$30.

3:44But that was still okay. Yeah. So she'll had enough for maybe a less expensive pedicure. I mean, maybe like just a plain coffee. Just nothing fancy, right? But driving home from the restaurant, she noticed that her gas light was on. Yep, of course. But her husband, he was taking her car in the next day for an oil change. And so she knew that he was definitely going to make a comment if he saw it on E. And at this point, it's been like a joke in the family. Like, ah, this is the Lisa special driving on Faith and Fumes. Yeah. So she pulled into the gas station to put in just enough gas. Raise your hand if you understand that.

4:17Just enough gas. And you have just enough time to get just enough gas to make it through the weekend. Another$40 is gone. So now she's down to$15. Okay. So she reassured herself, okay, fine. No pedicure, but I'll still – now I can grab just a fancy coffee with my bestie, right? But guess what? Then she walked in the front door from getting her gas last minute, and her daughter was like, mom we need laundry detergent because i have to wash my uniform for gymnastics tomorrow yeah so good um love this for her so lisa stared at her wallet and then at the empty laundry pod container the choice was clear she sighed she grabbed her keys and she drove to the store to spend her last 15 on laundry soap her just for me money had vanished yeah so stinky kid or coffee i mean that's where she was at like i mean i kind of might have just looked at your fault stinky kid All right, budget besties, it's time for some real talk.

5:12You don't need another budget. You need a budget system. Our simplified budget system is what you've been looking for. It's going to allow you to be bougie on a budget. You'll be able to easily set up a system that runs automatically and shows you exactly where your money is going. And it's going to give you permission to spend. Everybody loves that. Yeah. It's straightforward, pretty, and packed with walkthrough videos that break down the exact methods we use with our clients to get out of debt, set up a bills account, separate spending, build savings buckets, and end the paycheck to paycheck feel.

5:45If you're new to budgeting, this is the perfect way to jump in. And if you're already a budget nerd like us, you're about to meet your new obsession. This is the upgrade to your finances that you need right now. Yeah. So head on over to budgetbesties.com forward slash budget and grab yours. Now back to today's show. So we know that this sounds familiar to you, and this is exactly why we want you to separate your spending. You should always know that you have money for any of those scenarios that came up for Lisa. We want you to know that you have money set aside for them. And maybe you didn't realize that was happening to you until you just heard our story, and you're like, oh my gosh, that's my life.

6:21That is exactly what happens every single week. That's why I feel like I never have any money, because I thought I had money, and people keep coming at me to take it and spend it for me. So we want you to simplify your spending by separating it. What does that mean? And it's also going to let you – like the cool thing here is we talked about the bill system last episode, last step. This is all going to be simplified, separate, but it's also happening once your bills have already been paid. So it's not in lieu of your bills or it's not competing with your bills. It's all separate, which is the point.

6:53Yeah. I mean, as a mom, imagine, or even as a single person, just imagine knowing you have an account for your bills and you have all this money over here organized into different spending categories, which gives you the freedom to have money for gas and groceries, which gives you the freedom to have your own personal pocket money so you can go out with a friend, which gives you money for your kids when they need something for that, you know, that game, that dinner that they had after the game, right? Knowing that you have this money separate. And again, like Shana said, it's not competing with your bills.

7:23That is freedom. So basically, we want you to open separate accounts for gas and groceries, for restaurants, for personal spending. And if you have kids, we want you to have a kid's account. We want all of those accounts for you. Those are going to be containers. They're kind of, we say all the time, they're like digital envelopes. You used to use cash envelopes and you'd stuff cash in those. You're going to have those with the digital version. Those are going to be separate accounts. That way it is separate. And it's going to be in your budget. We talked about that before. And now you have budgeted a certain amount for groceries.

7:55You've budgeted a certain amount for restaurants. You've budgeted a certain amount for you to go with your pedicure, hello, and your coffee. And it's all separate and it's really simple and easy to know what's going on. So the thing here to grasp is that there's no tracking. Yeah. So if you've listened to us long enough, you know that we are very much against all of these apps and budgets that require you or have you track all of your expenses. There's no need for that. If you have a separate account and you put the money in that account and you swipe the debit card for that account, that is all you have to do.

8:27You don't, it doesn't, I don't care that you went to the grocery store 20 times this month. It doesn't matter. I mean, I feel bad for you, but it doesn't matter for your budget. Some people like actually go every day, but that's the thing. It's fine. Do they do it on purpose? Cause I do that on accident. I actually have a couple of friends that do it. They like to go after work every day and get the food that they're only going to have for dinner that night. It's like a thing. It's fine. It's understand is when you put that money in that account, that is your budget and you can't go over. Guess what?

8:54Because if there's no more money in there, the card ain't swiping, baby, because it's not a credit card. It's a debit card. So it holds you very much accountable as to how much money is in there. But this is where your budget comes to life again, where it gives you the money. And it's not just words and numbers on paper. We are putting the money in an account. You have a debit card. Hey, have a good time. Have fun swiping that. Yeah. And so like a visual to help you kind of see this what we're saying is if you think about like an unorganized closet like uh we're not necessarily like hoarder level but like there's just messy just messy stuff coming out everywhere they're like there's not enough room for all the actual hangers that you're using um that is what we're looking at the before that's your account with the bills and every bit of spending that you do all in one that's the before we want the after have you ever seen like the after like hello let's talk about home edit don't you want the after this is the after for your budget for your money.

9:45The after is everything is organized. It's clear. It's simple. It's beautiful. Labeled. Yeah. It's labeled. Yes. Queen. So yeah, that's what we want. That's the before and after the after is these separate accounts and they each have their own money that's going into them according to the budget that you set. And it makes it so simple. Yeah. So we have a super fun, like third grade little matching game here for you guys. So what we're going to do, and again, this is going to be at budgetbesties.com forward slash spending. So you're going to match. hey is this considered a spending item or is this considered a bill item we're going to have you do a little matching so you know exactly where that money goes so remember we're talking about four specific accounts it's gas and groceries it's restaurant it's personal money and then it's kids money all right so yeah you can get that at budgetbesties.com forward slash spending and so this was step four separate your spending we're really excited because it's it's as enough says all the time this is where you live in your budget and if we can make it easier and simple and just like you can live your life and spend money.

10:42That's what we want to do. That's what this step is. And so we'll be back next Monday for step five. I was just thinking while you said that, like you're not 18 anymore. Like you get to have more accounts. You get to be more organized. You get to do more grownup things and having separate accounts, stepping into this digital era that we're in, it's going to allow you to do that. Okay, just want to throw that out there. We'll see you next week for Start Your Savings Buckets. If you're tired of feeling like your finances are all over the place and you're ready for a simple, set it and forget it way to budget, we have something special for you.

11:10Watch our automate your budget masterclass at budgetbesties.com forward slash automate. We'll show you step-by-step how to finally organize your money, how to set up your accounts and put your budget on autopilot. So your bills saving and spending run like clockwork. Imagine less stress, more savings and the freedom to spend money without having to track every dollar or babysit your bank account. Go to budgetbesties.com forward slash automate to start today.