025: 3 Prong Budget Approach - WTW

Millionaire Mindcast

Matt Aitchison Media, Inc

Productivity, Stocks, Realestate, Lifestyle, Finance, Commercialrealestateinvesting, Personalgrowth, Entrepreneur, Business, Entrepreneurship, Rich, Mastermind, Money, Personalfinance, Millionaire, Mentorship, Realestateinvesting, Success, Mentor, Wealth, Investing, Millennials

4.4 • 716 Ratings

🗓️ 6 July 2016

⏱️ 4 minutes

🔗️ Recording | iTunes | RSS

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Summary

Want to know the best budgeting strategy in the world? Its the one you use! There are so many different budgeting strategies and approaches out there, and by just using one you will be further ahead than 2/3 of America according to a Gallup Poll.

So many people don't know how to budget or even care to, however the wealthy and successful understand that this is a muscle one must constantly strengthen. See how this simple and easy strategy can be used to shock your system and create more awareness around your spending habits.

Transcript

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0:00.0	Episode 025, short and sweet today.
0:08.6	Welcome to the Millionaire Mindcast, where we broadcast weekly interviews with
0:14.1	millionaire minds from across the globe to empower you on your journey of unlocking a rich
0:19.3	and fulfilling life.
0:21.0	It's time to unleash your millionaire within.
0:23.9	Now, here's your host, Maddie A.
0:28.3	Hey, what's going, everybody?
0:29.7	Welcome to today's wealth tip Wednesday.
0:31.7	I am your host, Maddie A, and thanks for tuning in for another week's worth of wealth tips.
0:37.7	So today's wealth tip is going to be on the very sexy, sexy topic of budgeting.
0:45.0	Yes, that's right.
0:46.4	The sexiest topic that you could possibly think of, right?
0:50.5	Well, today's wealth tip is on the three-prong budget approach. And why I bring it up is I read
0:57.2	recently in a Gallup poll that over two-thirds, two-thirds of Americans do not budget, nor do they
1:05.2	understand how to budget. And so the three-prong budget approach, why I love it so much, it's a simple and easy strategy that you can implement today, should you choose to, and what it's immediately going to do is bring more awareness and attention to the areas of your life and in particular the top three categories you were spending the most
1:28.3	money in so for example most of these categories are categories like eating out buying clothes
1:35.6	buying gadgets entertainment etc right it's basically stuff that is an amenity and not necessarily a
1:44.1	necessity so what i want you to do, my challenge to
1:47.2	you is sometime this week, go back, print out your last two months of bank statements and see what
1:53.4	categories you're spending the most money in. And you might be surprised by this. You may not be,
1:58.8	but based on that data you find i want you to
2:01.6	highlight the top three budget categories that you are spending the most money in and that we are
	...

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