💰I’m too broke to budget

Author

Ryan Page
November 03, 2023

This is Money Myths - the money newsletter where you’ll learn to gain control of your money so you can stop living in chaos!

Financial Clarity Starts Here.

On today’s agenda:

  • I need money advice

  • money myth of the week

  • mini money message

  • dad joke of the week

I need money advice 🤷🏻‍♂️

Ever wish you could ask someone else what they’d do in your financial situation? Now’s your chance! Send in your situation and get a CPA’s perspective.

Scenario: We’re late on our rent every month. We always have to wait until we get paid and then the money is gone right away. We don’t have anything extravagent, but we do feel like we nickel and dime our bank accounts. We make a decent income, but we’re just always chasing our bills. How do we get a handle on this?

What I’d do:

This sounds like such a frustrating situation and I know how helpless and out of control it can feel.

Like, where do you even start?

While this likely requires understanding more of what got you into this situation, the solution I’d propose is creating a plan for your cash using YNAB.

This way you can actually begin to track what those nickel and dime purchases are and you can begin to accumulate cash for your bills throughout the month.

By seeing your spending habits, you’ll be able to re-align to your family goals and shift the nickel and diming into intentional spending.

Have a financial situation you want help with? Reply to this email 😊😊

Money myth of the week

I’m too broke to budget.

No one is too broke to budget!

If you have any cash at all, you should create a plan for that cash.

Then you can create a plan for your income.

Remember, it’s just a plan - it’s not a restrictive ball and chain.

When the cash is tight, this is the most important time to budget!

Mini money message 📲

@backpocketcpa

Truth: have you defined how much more? If you make $1M and spend $1M you’re still broke. If you don’t have a good handle on your expenses,... See more

Tell me your best dad joke 🤣

How does the moon cut his hair?

Eclipse it.

Got any dad jokes to share? Let ‘em rip by responding to this email. 😜

Thats it for today.

We’ll see you next week!

And if you enjoyed Money Myths, send it to a friend who would benefit from this content 🤓My wife said I should do lunges to stay in shape. That would be a big step forward.