Welcome to Goodbudget 201: Budget with a Why

Week 1 | GB 201: Budget With a Why

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WHEN IT COMES TO YOU AND MONEY, WHERE DO YOU WANT TO GO?

Welcome to Budget with a Why! We’re excited you’re here, and we’re excited to go on this money journey with you.

Over these next five courses, we’ll walk you through creating a budget with purpose. From figuring out what’s important to you, all the way to inspiring you to think of ways you can live out your values. Because budgeting is more than just dollars and cents, and we think you probably agree.

To get you thinking just a bit, check out the mini-assignment below, and let us know where you want to go on your money journey.

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Today’s Mini-Assignment

We sat down with some budgeters, and asked them where they want to go financially. Here’s what they said:

“Up. I’d like to go up, which means having more money. I think of a growth chart, like my kids have at the doctor’s office, and I want to check in and see how it’s doing.” Paul, father of three.
“When I hear that, it sounds like a relationship. I want to go places with money, like literally travel.” Kendall, fabulously child-free.
“I think of ‘enough.’ I don’t want to have to think about it as much, not every day.” Matt, thinking about moving.
“Somewhere free, not like I don’t have to pay, but like a feeling of freedom. Thinking about being debt-free, that’s where I want to go.” Karisa, paying off student loans

Okay, now your turn! When it comes to you and money, where do you want to go? Let us know in the comments below!

Happy budgeting,
-The Goodbudget Team

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135 thoughts on “Welcome to Goodbudget 201: Budget with a Why”

  1. For when it comes to money i want to learn how to budget my money in my envelops so I don’t overspend my envelops.

    Reply
  2. I’d like to more aggressively track every dollar so that I can be more efficient in saving for our expanding family.

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  3. I’m newly retired with a mortgage. I want to budget so that I can stay in my home and still have enough to help others.

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  4. I’d like to learn where I can lean out my spending and apply it to investing and saving for retirement. I also want to be more modest in my spending just for the sense of satisfaction; moving toward a simpler lifestyle.

    Reply
  5. I’d like to be bale to pay all my bills on time and still being able to buy the things for our home, for my family and for myself, and still be able to give back or share with others.

    Reply
  6. I would like to save for a 1 month cushion, pay off my credit cards to less than 5% balance every pay check, save for a new car down payment, create a savings envelope for my student loan payments once they resume in the start of 2021.

    Reply
    • I have finally gotten to that point. I use PNC banking. The account allows you to have Reserve money that you can set aside each pay period for short term savings to pay recurring expenses like property taxes, car registration and tags, and others. Then you have Goal saving which allows an automatic transfer of money for more long-term expenses such as a vehicle, renovations, etc. You can have several categories under the Reserves. For example, I have 1. A cruise (which is for an indefinite period of time), 2. Property taxes (which I pay every six months), 3. Automobile insurance (which I pay every 6 months) and 4. Misc. Vacation Spending. Each month a certain amount of money is transferred to the Reserve Savings where it waits for you to distribute into each sub-category. You can do the same for long term Savings Goals.

      This has allowed me to treat my savings like a bill and not feel that I have free money. All my money was budgeted for specific needs. If an unexpected emergency came up, be it plumbing or leaky roof, I was able to move money around to keep from charging the expense. I do, however, from time to time just for good measure finance some expenses, just for credit rating purposes. My current credit rating is 820 and climbing. It wasn’t always that good and it has taken about 10 years to achieve. I hope this helps you out.

      I recently started using Mint so I can see what I am spending my money on. It’s surprising how much money I was spending on eating out in addition to buying groceries. So I made some changes.

  7. Peace of Mind about our finances. Looking forward to finally retiring and volunteering without worrying if I can afford to not work.

    Reply
  8. As I age I am realizing that if I ever want to retire I need to pay off my debt. I am finding that this amount of debt is really bothering me where I M always thinking about it and honestly wonder how I’ll ever pay it off!

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  9. My bills are paid and I have only one credit card which I pay up at the end of the month. My house is paid for. I have two cars that are paid for. I have a pretty good savings account. However, I feel that my spending is too frivolous. I want to work on doing a better job of spending my money so I can do more to travel (when it’s safe) and help my grandchildren out with school expenses from time to time. I currently use PNC Banking which is fantastic. However, their budgeting is very inflexible so I am exploring the use of Mint to help me analyze where changes can be made to fine-tune my spending and do more with what I have.

    Reply
  10. I would like to be able to take my kids to the beach and experience flying! As my kids get older I would like to be able to help them with school expenses. Having a stable financial situation would be all over great with four kids!

    Reply
  11. I want to have a one month cushion. Have all debt paid. Be able to retire in 3-4 years with a comfortable amount of money and investments that more than cover expenses. Be able to give freely. Travel.

    Reply

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