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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161 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.

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  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.

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    • 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!

    Reply
  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
  12. I’d like to feel I’ll have enough money to survive making choices of my own about my care and where I live until the end of my life which is likely to happen within the next 25 years.
    I’d like to know I have my finances in order, living within a budget and with pocket money enough to be able to treat a friend to coffee or a meal at least once a month.

    Reply
  13. What i really want is to enjoy what i have now, for me is not about having more, is doing more with what i have, because is not about the amouth of money i have, is the way i spend it.

    Reply
  14. I’m 20year navy retired,presently have bills consolidated, finished in
    Two years and four months, I need a good budget structure I have the
    Discipline to follow it, need to save
    In order to purchase at lease a
    9,000 value car in three years and be able to have a smart emergency
    Savings

    Reply
  15. Financially I want to be in more control of where our money goes so we have more freedom to do what we want when we want. Having a family to support is forever changing and evolving and I want to have the financial ability to do the same

    Reply
  16. I’m not currently in debt and I’d like to stay that way. I have ME and dyspraxia so finding a job is nigh on impossible. I’d like to take better control over the money I get.

    Reply
  17. Over my lifetime I have thrown so much money away. It stops here and now. I’m 8 years away from my projected retirement date…I still have dreams and plans. Debt free in 2 years is first.

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  18. I thought I did comment here..but I probably pressed delete instead of submit. Hahaha. I’m getting old. Well I am a senior living on a limited income… My purpose for being here is to get my money spending under control and have enough to retire on. Right now I have to continue working until I’m 70 years old in order to live for the rest of my life… That’s sad but that’s reality

    Reply
  19. I would like to feel in control and taking charge of my finances. I want peace of mind and to fully understand how to deal with unexpected expenses and navigate with no anxiety cause I feel empowered and informed.

    Reply
  20. I spend more than I should, I don’t budget well at all. Sadly I am pretty gifted in areas where I can make enough to be comfortable. But like most others I’m living paycheck to paycheck, maybe a little better than but I still spend it all somehow. I also want to be able to teach my siblings as we all were never taught how to manage money properly

    Reply
  21. I want to learn how to actually manage my budget instead of just making a list of my expenses. I also want to save more. I want to have an emergency fund and a household fund.

    Reply
  22. I live across the pond from my family and am not able to visit them as often as I would like due to money. When we do go, it takes quite a bit of money so being able to go and come back without that pressure would be nice. It’d be nicer knowing we don’t have to worry about how we’re going to live once we retire. In addition, I’d like to see my son not have the stress of paying for college like I did, so he can actually learn and grow more than his time management skills.

    Reply
  23. I don’t even want to go up. For now I want to break even. I want to have enough money to last 2 weeks and to still pay bills. I want to go out to dinner with my son without saying no because I have no money. I just want to break even.

    Reply
  24. When it comes to money, teenager memories of feeling self-abased with living in tight budget(a story: my Mom took a lot care washing my tennis shoes, she learned to use toilet paper to absorb extra color to makes the shoes white. She was very proud to let me wear the shoes like new, but she intended to reuse the toilet paper after they became dry with my shoes. My father and I stopped her immediately, because of hygiene and thank God, she listened) But this little experience shocked me a lot. My family was rather poor but still my parents loved me and want to give me good things as much as they can. That pair of shoes stayed with me for many year even till I didn’t wear, they look 70% new. I love my Mom and Dad, they did what they can
    I had fear in money for quite a long time, to be honest. Inherit from my family under the background in rural area China around 2000. There was no good insurance for employment, healthcare, pension while the income was low. Almost everything we need to rely on ourselves, so most people I know didn’t dare to spend more than earnings, mortgage was also considered risky and need the big family support.
    Now I am living in a high welfare country and will stay here, I feel and do realize much more secure with work and life. Also realize how hard it is to not compared with others of similar background who owns more. Why I am budgeting? I really want to get help to stay aware of myself: where I put my money. Is it sth I really need/want or because I want to catch up with others?
    I am the owner of my life, I don’t want to be driven by fears nor desires which is a trap.
    I know how hard it is to be self aware about value, vision. But I am not alone, and I don’t go for perfect. This has meaning to me and I believe also to my loved ones. Wish this long post worth to share and also get help from the community:)

    Reply
  25. For me when it comes to money, I want to be able to budget it more appropriately. I want to be able to save more money, and spend money more wisely but also while not compromising too much and be able to enjoy the things I need or want. At the same I believe I can and should be more responsible with money, and I believe with more knowledge and insights I can make more educated decisions with my money.

    Reply

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