Personal Budgeting Basics
Download my FREE Budget Template and watch my Walk-Through Video
Do you want to maximize your income and wisely
invest your savings in order to increase your net worth?
Would you like to retire early?
Well then, it all starts with a budget.
Like many of my friends and clients, a "budget" might be the most important thing on your
"To-Do List"...that never gets done. Huge mistake!
If you neglect your budget, you can't possibly gain the insight into your finances that you need to make the most money you can!
A budget is not just for "frugal" people trying to keep from spending too much. It is also for rich people who want to stay rich!
An itemized budget is really a spending plan. It shows you what you’ll have left, after you take your income and subtract all your expenses each month. That leftover amount (aka savings) will increase your net worth. Going one step further, you will invest those savings, so that money can continue to grow on its own.
To create a budget, you first need to break down all of your spending into categories, so you can clearly understand your habits and identify where you may be able to improve and spend less. Not sure how to do this? No problem. This course, and my included Budget Template Download, will make the process a whole lot easier.
That said, a budget is only step one...step two is tracking your actual expenses. You also need to accurately track what you're spending each month, to ensure you are sticking to your spending plan!
In the included Walk-Through Video, I will take you through the budget and explain how you can customize the categories to meet your particular situation. Even more importantly, I will introduce you to the financial tracking (aka bookkeeping) software that I use. Then I will show you EXACTLY how I track my expenses on an ongoing basis.
I spent my career in Los Angeles, starting and owning entertainment businesses---primarily Therapy Studios. My major roles were finance, marketing, branding, sales, technology, project management and real estate...ie I was an Executive Producer.
While my wife and I had a great 19 year run in LA, we decided we wanted to slow things down and focus more time on our family. So my partners graciously cashed me out of the businesses, and we moved to a charming town on the FL gulf coast.
My partners were also nice enough to keep me on as a part time consultant, to continue managing the finances from afar, which I am still doing. Then some other friends asked if I would manage the finances for their businesses, so now I have several clients, and consequently a consulting & bookkeeping business!
Throughout all this, I have also been an avid real estate investor. RE has always been a great interest of mine, hence my wife and I have invested in 11 residential rental properties and 3 residences, 5 of which underwent significant renovations. Additionally, to house the businesses mentioned above, my partners and I invested in two sizable commercial properties in Los Angeles with project valuations of 4.5mil and 10mil.
All this experience has made me quite knowledgeable about personal finance, small business management and real estate investing. I'm now helping others by passing on this information through my blog, consulting and coaching services.
StartVIDEO INTRO: About the Budget Template and Why It's So Valuable! (3:01)
StartTEXT LESSON: An Overview of Personal Budgeting and Common Categories
StartTEXT LESSON: The Importance of Personal Bookkeeping
StartFREE DOWNLOAD: My Google Sheets Budget Template "Masterpiece"
StartVIDEO WALK-THROUGH: Using the Template and Understanding the Fundamentals. (34:01)
StartSUMMARY: More Available Resources!