Family Budgeting with Kumiko Love, “The Budget Mom”| HTH 021

How to Home Podcast

This week Aaron and Tracy chat with Kumiko Love about tips for jump starting your family budget and how to stick with it.

LET’S CHAT!

You can always call and leave your questions and comments on our voicemail!

978-709-1040

KUMIKO’S METHOD:

- Kumiko does the budget by paycheck method, and also implements a calendar.

- She doesn’t use a predetermined dollar amount or percentage.

JUMP START YOUR BUDGET:

- Learn the emotions and triggers behind your spending.

- When you’re a freelancer, knowing everything about your past spending is important.

- Meal plan! Food is a budget killer.

- Track your spending and figure out where your money is being sucked.

- Call the companies behind your monthly bills and see if you can get your costs down.

- Create an allowance for spontaneous purchases.

- Homeowners should have an emergency fund and a maintenance fund.

- Find a financial adviser you can trust, if you don’t feel comfortable making the decisions on your own.

- Kumiko thinks you’re more motivated to save if you have savings accounts labeled as your specific goal.

- “If I spend the money right now, what am I giving up in the future?”

- For student loans- sit down and figure out exactly what you have.

- There are financial counselors out there for free! Check out non-profit organizations and banks.

TOP 5 TIPS:

- Discover your why. Why do you want to start budgeting?

- Track your spending. It’s the number one action step.

- Look at your recurring bills and try to get them down.

- Sit down and look at your debt. Write it all out.

- Figure out what kind of learner you are? That’s how you have to organize your finances to stay motivated.

COMMON PITFALLS:

- They can’t change their mindset surrounding what they have/need.

- They feel stuck.

- Food! They need to meal plan.

- Not knowing where to start with debt.

CONTACT KUMIKO:

Website | https://thebudgetmom.com

The Gram | @thebudgetmom

Youtube | @thebudgetmom

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