David Hutchinson’s Reviews > Budgeting 101: From Getting Out of Debt and Tracking Expenses to Setting Financial Goals and Building Your Savings, Your Essential Guide to Budgeting > Status Update

Provides online paycheck calculator links. Talks about the power of couple budgeting. Talked a lot about student loan debt. Explains refinancing, balance transfers, discretionary income, and consolidating, and more. Credit card minimum payments are designed to make it take forever to pay off your balance.

Explains what dividends are, provides links to research dividend-growth stocks, and provides two easy investment systems, which are REITs and Fundrise. Explains Emotional states of overspending, situational spending (which I find commonly happens a lot), and not shopping when drunk or hungry.

Four ways to boost earnings are explained, along with many links and resources to get started. Ways to develop passive income. Starting your own business with resources to help. Apps that can make you money. There’s no pressure or rating which is best which I like. It’s just given resources to help.

Explains using Excel for budgeting, layouts, and templates. Provides multiple websites for additional templates/forms for various reasons. Explains budgeting software, providing links, and how to keep your data safe. Explain budgeting apps and provide and explain different apps. Provides auto-saving services, or ask your bank if available. Explains auto-paying bills, followed by safety advice on doing so & app.

The envelope system of budgeting stood out to me. I’ve seen a video of a dad teaching his kids to use this system whenever they get money.

If ever late on a payment and you get flagged for it but has a good history of paying in time you can call the creditor and they can possibly clear it from your records. My mind foggy, a bit under the weather 🤧 having hard time reading today.

Setting and breaking down your spending priorities. Separating needs and wants. The understanding of opportunity costs. Conscious spending rules such as “wait for it”, “indecision decision”, “something in, something out.”

A saying that struck me. “Every dollar you spend is a dollar that’s not working for you,” explains budget methods: Track everything, 50,30,20 for big spenders, 80-20, zero-sum, debt diet. Two ways to balance… increase income or cut expenses… (try both) #1 of budgeting - spending less than your income. Explains compounding💰. Max out matching on 401 (k) or other plans, if available. Tool: www.smartypig.com

When you constantly spend less than your income, you’re making the smartest money move of all. Explains other smart moves to boost your net worth. Bad money habits undermine new worth. Biggest threat to your net worth is high interest rates - credit card debts. Making sense using credit cards explains how to know your cash flow and deposit holds. Provided link www.asktrim.com to track forgotten subscriptions & more

Join finances. You want assets that appreciate over time, not depreciate. Provided links and ways to find value in your assets. Explains and shows overlooked assets that people forget about. Explains liability, secured and unsecured debt, and Amortized & Revolving. Quick math: Assets - liabilities = net worth.