You two are such a good team togerher. I get so excited when l see you both together to present the end of the month results. Ryan l love your chuckle!
I love the way you continue to tweak your budget Miko. Many think it stays the same, or you have to keep it the same. If you find yourself too content, it's time to shake it up (even if it is the colour of your categories, the categories themselves, or a new goal). You two are such great examples. Thank you!
Yes I like the “inflow” term better than “income” which felt inaccurate from an accounting standpoint. Inflow can encompass any transfer of funds from savings. I like it, your new method cuts down all the double counting and inflation of the savings percentages. Hope to see this more accurate methodology on the next set of books!
This video JUST answered all the questions I had while doing my February recap. INFLOW makes so much sense now. Plus calculating the savings based on actual income vs. inflow. THANK YOU!
THANK YOU for sharing your thoughts on cars. Especially what you said at 3:26 minutes, "I've learned in my life sometimes convenience....smart convenience... our time is more valuable than the money that you would pay or save.". When I began my budgeting journey, I was leasing a car. When the lease was up I decided not to lease again, instead I was going to buy a used car. The entire process took months and it was very stressful. I know there is no perfect way to buy or sell used or new cars. There are many options, and we all handle stress differently, but not many budgeting experts talk about decision-making stress equity. They don't talk about the stress that goes with this process, especially if you are a person who does not know much about cars. Thank you for acknowledging this truth 🙂
"Inflow for cash flow" Love that!!! That makes alot more sense. Alot of times I don't even record a sinking fund inflow, if I'm using the whole thing... like for Vacation.
Ryen, good luck with selling your car! I just had to undue a new car purchase to get out of debt quicker so I feel your pain! But its SO worth it! Just an idea, if you are willing to take a $3k loss, try listing it at a price point that's a $1,500 loss for you. You may have a buyer soon and you'll also bless someone with a good deal. A salesman at Carmax told me they make offers for cars around $6k less than what they'll sell them for...ouch! Be patient and you may be able to keep that money! Have a nice day ladies and thanks for our Saturday morning inspiration!!
Just posted my January close out too! We went over budget in a couple categories 🥴 BUT it allowed me to reflect on the “why” which is something I love about doing the close out!
Absolutely love getting to see you and Ryen’s budgets together each month and hear you just chat as friends about them! So helpful and helps me stay inspired to stay on track!
Thank u Budget Mom you have inspired me so much to start budgeting and hopefully enjoy financial freedom in the future💖💖💖 Both of u is perfect and truly inspirational🌸🌸🌸
Do this budget planning in Excel Sheet and it will make your recording and tracking so much easier but I do understand Excel might be quite tough for those who never worked with it.
I would be interested to see your savings and sinking funds funding separated. I feel like sinking funds aren't really saving--they are budgeting for a future planned expense. Just a thought. I totally love The Budget Mom--I've been doing budgeting by paycheck for years and years and I love the resources you have made available that allow me to finally track in a meaningful way.
I love this concept of "inflow"! I started including cash gifts as income but it felt weird since it wasn't earned income but the different categories of inflow makes a lot of sense!
Thanks guys. I have an emergency fund of $1500 and started sinking funds this month, and that has helped me feel more secure which has in turn helped me shop more from my pantry (the pantry video was so helpful) and spend less on food as well as pay off more in debt =). My income is sooo soo variable by even thousands so budget by paycheck is so helpful. PS: what category was the tattoo? =)
I addressed the issue of inflow as 'added budgeted income' about two years ago. I realized the need to account for funds accumulated in previous months but used later on. I use the same idea you have about not counting those funds as income.
I am hooked on your videos and am starting my budget by paycheck journey this month. I would love to see a more updated set up of your budget. Especially Ryen's (with debt) but also you talk about cash flowing smaller birthday and expenses. How do you do this? Is it treated as a bill or a one off envelope for the month?
Do you have any tips for someone who doesn’t have consistent work? I’m a college student who is only able to work over summers and winter breaks and struggle to determine how much I need to save and make in order to stay afloat during the semester
Private party is how I prefer to buy a car, its not a big deal to go to the loan holder and hand them the check they then give the extra to the car owner and give you the title (or your bank if you have a loan). I can pay my mechanic $150 to do a better inspection than the dealer will and I save $2850.
I'm not sure the revised way of calculating % saved is accurate. Rather than inflow I think of it as available funds. What % of funds available to me did I save. Say I have 100 dollars for my partners birthday in a sinking fund but only spend 90 dollars on his present, then the remaining 10 dollars is available to me to either spend or put towards other savings goals.
Awesome video!! I picked up on the cushion usage. could you describe the process on how to use your cushion? Do you list it as a bill amount on your paycheck bill tracker? Then as in flow on yr expense tracker?
I was wondering the same thing. I went back and looked at her budgeted categories and didn't see it listed as a budgeted item. I also use a cushion but got confused a bit.
Thanks for the in depth explanation. I want to get started using TBM method, but first I have two questions. First, for food, do you include everything you buy at the grocery store like TP, paper towels, shampoo, etc? Or do you go through your receipt and separate those things into another category like household, health/beauty?? Second, my husband gets paid twice per month, so the BBP method works well. But I also have my own laundry business where I get paid through an app multiple times per week, and it’s variable from week to week. How do I include that income schedule and fluctuation into the BBP method? Thank you!
Did you stop saving for a vacation sinking fund because you're not travelling anywhere? Or has it blended in with another sinking fund? You mentioned your fun SF, but it's only $100 a month, so I was just wondering about this. Thank you in advance.
I’d love to know how many different savings accounts you have? Idk if you’ve mentioned this in past videos, but I personally only have a couple with multiple sinking funds in it. I’m wondering if it is beneficial to separate every sinking fund in a different account. However, I worry about minimum account balances that banks/credit unions might charge fees on.
How do you keep track of your checking account cushion as you use it so that you know how much you have to replenish? Do you use a separate spending tracker?
I feel too guilty if I cut my kitties' budget and don't cut mine LOL! I need to budget in some cat perches/trees for them as they've pretty much outgrown their kitten one. But I went overboard when I had dogs and was always getting stuff for them and only one played with toys so I finally learned to just replace her favorites when needed and get bones when I went for dog food. the fund for them is great too because as mine got older the lab needed that expensve acl surgery and both needed more meds as they aged and I had in-home euthanasia for each when that time came that included cremation. with the first I wasn't budgeting but with the second I was budgeting and didn't use the credit card.
well another dealer give you more? My friend went to see what she could get for car if sold to a dealer. one dealer offered 2000 less for her vehicle than another dealer. It pays to check around.
Does anyone know where she keeps her sinking funds or other savings? Does she have various separate bank accounts or does she keep large amounts of money in envelopes? In other words, how does she keep her saved money for different categories separated ?
From 17:00 to 17:55 I am sooooo 😕 confused. Inflow? Income? It all started to sound like Charlie Brown's teacher. Gonna go back to the beginning to get a better understanding
Income is the earned income or salary one gets. Inflow is not really earned income but like somebody gave you the money or the savings you use in that month - this savings was saved from an income in previous months.
I love watching these videos but if I may give some feedback: Miko please stop interrupting Ryen. She’s a very bright person and doesn’t need you to complete her sentences or to explain things she can explain for herself. 🤦🏻♀️
go back to blonde! you look much better. Patience to wait for the next paycheck to pay on debt is a hard part for me, I wish would have money to pay it all.
I feel so mentally invested in Ryens car situation, I hope it works out 👏🏻
Ryen brings so much to your recap videos… I always get excited to see her joining you!
You two are such a good team togerher. I get so excited when l see you both together to present the end of the month results. Ryan l love your chuckle!
I love the way you continue to tweak your budget Miko. Many think it stays the same, or you have to keep it the same. If you find yourself too content, it's time to shake it up (even if it is the colour of your categories, the categories themselves, or a new goal). You two are such great examples. Thank you!
Yes I like the “inflow” term better than “income” which felt inaccurate from an accounting standpoint. Inflow can encompass any transfer of funds from savings. I like it, your new method cuts down all the double counting and inflation of the savings percentages. Hope to see this more accurate methodology on the next set of books!
This video JUST answered all the questions I had while doing my February recap. INFLOW makes so much sense now. Plus calculating the savings based on actual income vs. inflow. THANK YOU!
THANK YOU for sharing your thoughts on cars. Especially what you said at 3:26 minutes, "I've learned in my life sometimes convenience....smart convenience... our time is more valuable than the money that you would pay or save.". When I began my budgeting journey, I was leasing a car. When the lease was up I decided not to lease again, instead I was going to buy a used car. The entire process took months and it was very stressful. I know there is no perfect way to buy or sell used or new cars. There are many options, and we all handle stress differently, but not many budgeting experts talk about decision-making stress equity. They don't talk about the stress that goes with this process, especially if you are a person who does not know much about cars. Thank you for acknowledging this truth 🙂
"Inflow for cash flow" Love that!!!
That makes alot more sense. Alot of times I don't even record a sinking fund inflow, if I'm using the whole thing... like for Vacation.
Ryen, good luck with selling your car! I just had to undue a new car purchase to get out of debt quicker so I feel your pain! But its SO worth it! Just an idea, if you are willing to take a $3k loss, try listing it at a price point that's a $1,500 loss for you. You may have a buyer soon and you'll also bless someone with a good deal. A salesman at Carmax told me they make offers for cars around $6k less than what they'll sell them for...ouch! Be patient and you may be able to keep that money! Have a nice day ladies and thanks for our Saturday morning inspiration!!
I just started my budgeting journey this year and your videos have helped me so much already!
she is awesome! THE BEST METHOD, HELP ME A LOT, ONLY METHOD I BEEN ABLE TO STICK ON. IT WORKS!!
Totally agree with you carving out sinking and savings from income. Otherwise you are double dipping that money
I so agree with separating your savings/sinking funds you have to dip into-unbudgeted! Thanks for the explanation, and I took notes!
Just posted my January close out too! We went over budget in a couple categories 🥴 BUT it allowed me to reflect on the “why” which is something I love about doing the close out!
Absolutely love getting to see you and Ryen’s budgets together each month and hear you just chat as friends about them! So helpful and helps me stay inspired to stay on track!
I really like the way you keep improving your way of budgeting, shows you can learn more as you go. Great suggestions. Thanks Miko x Ryen ❤️
I love watching Ryen’s budget videos because I am budgeting with payoff debt too. Thank you!! 💜
I like to see both you and Ryen discussing the numbers. It also gives clarity on the process!
I love the Zebra mildliner set! Cute colors! I'll try to copy your scheme next month.
Thank u Budget Mom you have inspired me so much to start budgeting and hopefully enjoy financial freedom in the future💖💖💖
Both of u is perfect and truly inspirational🌸🌸🌸
Do this budget planning in Excel Sheet and it will make your recording and tracking so much easier but I do understand Excel might be quite tough for those who never worked with it.
I am so thankful for your content and community. Thank you!
i love when you two are together doing the last months reviews!
I would be interested to see your savings and sinking funds funding separated. I feel like sinking funds aren't really saving--they are budgeting for a future planned expense. Just a thought. I totally love The Budget Mom--I've been doing budgeting by paycheck for years and years and I love the resources you have made available that allow me to finally track in a meaningful way.
I love this concept of "inflow"! I started including cash gifts as income but it felt weird since it wasn't earned income but the different categories of inflow makes a lot of sense!
February is like the down time after having 1300 days in January 😂
You are amazing Miko, I love watching your videos.
I'm new to this budget thing but I'm focused hard because I wanna get a home for my family!
Thanks guys. I have an emergency fund of $1500 and started sinking funds this month, and that has helped me feel more secure which has in turn helped me shop more from my pantry (the pantry video was so helpful) and spend less on food as well as pay off more in debt =). My income is sooo soo variable by even thousands so budget by paycheck is so helpful. PS: what category was the tattoo? =)
Thanks for the video..I'm realising that I'm traking my spending into my envelopes but not leaving room in my budget to save..I gotta work on it 😀
Watching from Ireland , Love it 💖
I addressed the issue of inflow as 'added budgeted income' about two years ago. I realized the need to account for funds accumulated in previous months but used later on. I use the same idea you have about not counting those funds as income.
I am hooked on your videos and am starting my budget by paycheck journey this month. I would love to see a more updated set up of your budget. Especially Ryen's (with debt) but also you talk about cash flowing smaller birthday and expenses. How do you do this? Is it treated as a bill or a one off envelope for the month?
This makes sense using inflow outflow method
Do you have any tips for someone who doesn’t have consistent work? I’m a college student who is only able to work over summers and winter breaks and struggle to determine how much I need to save and make in order to stay afloat during the semester
Love these vedio it always reconfirm that I'm doing in my budget is correct
Private party is how I prefer to buy a car, its not a big deal to go to the loan holder and hand them the check they then give the extra to the car owner and give you the title (or your bank if you have a loan). I can pay my mechanic $150 to do a better inspection than the dealer will and I save $2850.
Have you done an hourly/ tipped worker budget? It's so hard to budget when I'm not sure how much its going to be from my tips!!
💜💙💜💙💜 Love watching your videos 💜💙💜💙💜
It is worth 3 THOUSAND dollars to do the work to sell the car privately. If it takes 40 hours to sell it, it is still worth it. Return on Investment.
I'm not sure the revised way of calculating % saved is accurate. Rather than inflow I think of it as available funds. What % of funds available to me did I save. Say I have 100 dollars for my partners birthday in a sinking fund but only spend 90 dollars on his present, then the remaining 10 dollars is available to me to either spend or put towards other savings goals.
Ryen, how do you keep your misc/personal so low? Just tell yourself you don't need things?
Yay! Love these
Awesome video!! I picked up on the cushion usage. could you describe the process on how to use your cushion? Do you list it as a bill amount on your paycheck bill tracker? Then as in flow on yr expense tracker?
I was wondering the same thing. I went back and looked at her budgeted categories and didn't see it listed as a budgeted item. I also use a cushion but got confused a bit.
Thank you 🙏 Love this 😊
Hi, can you share your nail polish kit you used. I love the colour. Thanks for the great video.
Thanks for the in depth explanation. I want to get started using TBM method, but first I have two questions. First, for food, do you include everything you buy at the grocery store like TP, paper towels, shampoo, etc? Or do you go through your receipt and separate those things into another category like household, health/beauty??
Second, my husband gets paid twice per month, so the BBP method works well. But I also have my own laundry business where I get paid through an app multiple times per week, and it’s variable from week to week. How do I include that income schedule and fluctuation into the BBP method? Thank you!
Did you stop saving for a vacation sinking fund because you're not travelling anywhere? Or has it blended in with another sinking fund? You mentioned your fun SF, but it's only $100 a month, so I was just wondering about this. Thank you in advance.
I would also like to get away.....at midnight tonight in rural northern MN it will be -25 actual temp and not sure on the wind chills.
I'm in MN too! It's so cold! 🥶
@@daniellemccowan1192 Same. Thankful for today and tomorrow! 19 feels like a heatwave!
I’d love to know how many different savings accounts you have? Idk if you’ve mentioned this in past videos, but I personally only have a couple with multiple sinking funds in it. I’m wondering if it is beneficial to separate every sinking fund in a different account. However, I worry about minimum account balances that banks/credit unions might charge fees on.
it is what cushion is for. I am trying to reach the $1,000 she has or at least $500. Patience is the hardest part lol
What kind of bank should we have for the big sinking funds?
How do you keep track of your checking account cushion as you use it so that you know how much you have to replenish? Do you use a separate spending tracker?
I feel too guilty if I cut my kitties' budget and don't cut mine LOL! I need to budget in some cat perches/trees for them as they've pretty much outgrown their kitten one. But I went overboard when I had dogs and was always getting stuff for them and only one played with toys so I finally learned to just replace her favorites when needed and get bones when I went for dog food. the fund for them is great too because as mine got older the lab needed that expensve acl surgery and both needed more meds as they aged and I had in-home euthanasia for each when that time came that included cremation. with the first I wasn't budgeting but with the second I was budgeting and didn't use the credit card.
What if she paid it off now, so when she sells it she already has the title on hand regardless of what she sells it for? 🤔
She doesn't have the money to pay it off now... thats why its getting sold
I’m so excited for Ryen to sell her car!
well another dealer give you more? My friend went to see what she could get for car if sold to a dealer. one dealer offered 2000 less for her vehicle than another dealer. It pays to check around.
Kumiko where did you purchase your label maker?
Does anyone know where she keeps her sinking funds or other savings? Does she have various separate bank accounts or does she keep large amounts of money in envelopes? In other words, how does she keep her saved money for different categories separated ?
❤❤❤
Asking again for international shipping on your workbooks
From 17:00 to 17:55 I am sooooo 😕 confused. Inflow? Income? It all started to sound like Charlie Brown's teacher. Gonna go back to the beginning to get a better understanding
Income is the earned income or salary one gets. Inflow is not really earned income but like somebody gave you the money or the savings you use in that month - this savings was saved from an income in previous months.
How can you track all your sinking funds as only eight goals in the book xxx
Try caravans Ryan!
I don’t see mortgage or rent in the category. Is this in a different area?
Hi guys! 💙
👋 Hello!
Hi sissy where did you buy the budgetting book?
It’s Miko’s company: TheBudgetMom
What pet insurance do you have?
I’m new to this channel today. Can someone tell me who Ryen is? She seems SOOO sweet and I wanna be friends. Lol
Ryen is Miko's assistant. :)
Suggestion, you might want to sit on a pillow to lift you up a little. It looks like your sitting in a really small chair.
I love watching these videos but if I may give some feedback: Miko please stop interrupting Ryen. She’s a very bright person and doesn’t need you to complete her sentences or to explain things she can explain for herself. 🤦🏻♀️
I like Tyan but the other lady over talks her. Very irritating.
Tyan?
@@user-vi4xy1jw7e Ryen...lol Auto correction 😅
I agree!
Reusable Menstrual Pads HatThatStore E T S Y
go back to blonde! you look much better. Patience to wait for the next paycheck to pay on debt is a hard part for me, I wish would have money to pay it all.
Rude much?