In this episode of The His & Her Money Show, we talk about the power of budgets to change your future with money coach, Ericka Young.
While most of us know we need to budget, most of us also know that we don’t like the budgeting process. Budgeting feels like a straitjacket. It feels like you’re depriving yourself.
Budgets don’t have to feel that way.
In fact, as Ericka Young shares with our listeners, restrictive is the opposite of how a budget should make you feel. A budget should leave you empowered. A simple, one-page budget can be a powerful tool for you and your family to manage your financial destiny.
How did Ericka come to these insights about the budget? How can you use your budget to empower, rather than discourage you? What conversations do you need to have with yourself and other people to start getting financially free?
Find out the answer to these questions and the story behind Ericka kicking off $90,000+ in debt, in this episode!
What You Will Learn
- How Ericka and her husband paid off $90,000+ in debt
- Why it’s so hard for couples to agree on money issues
- What affects our conversations about money
- How do you even start conversations about money..without starting an argument?
- Not letting a bad money past influence the future
- What happens when one partner is “more responsible with money”
- How to start a budget
- How to talk with a partner about money when they don’t want to talk
- Why your budget should have some “fun money” included
- Why an emergency fund is necessary
- What are the common holes in a budget?
- Should you involve kids in the family budget?
- Financial compensating for our kids-What do when we buy too much for our kids because we were given too little as a child
- Budget vs allowance debate
- Should parents pay for the first car and college?
Resources Mentioned
- Ericka’s Beyond The Budget Course | hisandhermoney.com/beyondthebudget
- Tailor Made Budget
- Dave Ramsey’s Baby Steps
- Free Financial Education (eBook) for Teens (TailorMadeBudgets.com)
Thanks For Listening!
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Today’s show is sponsored by Legal and General America. Legal & General America makes understanding and applying for life insurance easy.
Also, agents are standing by to help you determine the best coverage to fit your family’s needs. Visit HisandHerMoney.com/lgapodcast to get started on your journey toward financial wellness.
