Stellar budget allocation. The budget I'm currently using is the anti-budget: saving what I want first, then living off the rest!
@AbundantlyMinimal
5 жыл бұрын
Thanks, Sean! That is a great plan!
@MicahRion
4 жыл бұрын
I loooove the anti-budget! Learned about it from Tess Wicks. It's the first budget I really stuck to because it was so perfectly simple. Now I'm a full YNAB nerd :P
@ohjewelio
5 жыл бұрын
I always enjoy you're videos. You're a natural teacher and while I'm not needing to edit my budget, I listened to this because I knew you'd explain things clearly and intelligently. Thanks for sharing!
@AbundantlyMinimal
5 жыл бұрын
Gosh, you are so sweet! Thank you!
@PenniesNotPerfection
5 жыл бұрын
Love it! I don't think I've clicked on a video so fast. I always love these updates. I love how you show it as how much you have to make to meet your goals and responsibilities. Great video!
@AbundantlyMinimal
5 жыл бұрын
You are so sweet, Mary! I'm glad it was helpful!
@wendyfrase1815
5 жыл бұрын
I do love your videos. I'm glad you are doing them more often. We started saving and investing early and it made a big difference for us. We are close to retiring early so your videos and living minimally is motivating me to really crack down and be creative to get to our goals sooner.
@AbundantlyMinimal
5 жыл бұрын
That is wonderful, Wendy!
@rl3938
5 жыл бұрын
Great system! You are very smart, I know you and your husband will do very well. Thank you for sharing!
@AbundantlyMinimal
5 жыл бұрын
Thank you, Rhonda!
@MsDoglover02
5 жыл бұрын
Thanks Sarah! I got so much out of this video from reinforcing a budget to investigating a high yield savings account once I pay off my small credit cards. You deliver current content and give suggestions/sources that have worked for you.
@AbundantlyMinimal
5 жыл бұрын
Lynne, I am so happy to hear this!
@111-e7n2k
5 жыл бұрын
Good points mentioned Sarah. Pleased I live simply and have no debts. Besides I live in Switzerland, which is an expensive country. Luckily we do do need a car here. Thanks to great public transport. Also my electicity, water and heating costs are included in my rent. So I am very fortunate in this respect.
@AbundantlyMinimal
5 жыл бұрын
Thank you!
@katiethomas5889
5 жыл бұрын
Does that mean you have a lot of money saved, or do you enjoy life through experiences?
@111-e7n2k
5 жыл бұрын
@@katiethomas5889 In Switzerland we earn very high salaries and enjoy the best living quality after Vienna - Austria, I have read. From age 18 or so, we pay into two pension schemes. One is company pension and the other state. This is obligatory for every Swiss. Plus personal savings. Although CH, is an expensive country for foreigners, we as Swiss do not need to have a car. Our transport system goes everywhere and is punctual in our country. University is cheap. Our students have no such thing as student debt as in USA. Should any Swiss citizen ever need social support or good free legal advice or.. it is surely readily available. Also we buy good quality and what we need for clothes and other goods. Debt is frowned upon here and we have low taxes. In fact all pensioners are very well cared for in all ways. All Swiss are. Life here is completely different to many countries. I am not saying we are the best but we can be very grateful for all that we have. Our kids even walk safely in the streets. Education is of a high standard.
@TWills-oe7hn
5 жыл бұрын
Awesome video. The clearest budget design I have ever seen. I have been budgeting but somehow it doesn’t seem to work well. Also, your video really makes the case for the value of minimalism. Great Job. I am new to your channel and so happy I found it! Thanks
@AbundantlyMinimal
5 жыл бұрын
I am so happy to hear this! Welcome to the channel!
@rachellawyer3421
5 жыл бұрын
This is SO helpful! My hubby just decided to move his side business into full-time with a part time job on the side so I’m only halfway through the video and I’m going to write out our budget while you are showing yours. I use Everydollar but this style will be very helpful! Thank you for sharing.
@AbundantlyMinimal
5 жыл бұрын
Congrats to your husband! I'm glad it is helpful!
@claudiacastenir9605
5 жыл бұрын
Your breakdown is similar to what we do. August is also when we do do a new budget as I too was a teacher before retiring in 2013. One thing I would suggest considering is outlined in Luke 6:38 and Malachi 3:10. We have found keeping this as the main priority in our budget has indeed blessed us more than we could have ever imagined.
@AbundantlyMinimal
5 жыл бұрын
It's great to hear you were a teacher too! Giving is absolutely a priority and something I want to continue to do more of in the future!
@JennDyer
5 жыл бұрын
The budget format is great! I have a lot of the same categories and break my money down the same way except I in addition to.ky emergency and car maintenance fund I also have funds for house maintenance, taxes (car property tax), medical (now on a fsa, but I still have a fund leftover), and vet. And then I have discretionary things like a vacation and "large purchases" fund for when I'm saving up for a larger purchase.
@AbundantlyMinimal
5 жыл бұрын
I'm glad you liked it, Jailyn!
@TanjaHermann
5 жыл бұрын
That way of budgeting system was very helpful for me now that I start on a new business venture and need to gauge how much money I need to bring in each month. A nice addition to my traditional table just listing and adding expenses. Well done and good luck for your business ventures!
@AbundantlyMinimal
5 жыл бұрын
I'm so happy to hear that, Tanja!
@marinavedmidskaya
5 жыл бұрын
This is such a clever idea! Thanks so much for inspiration!
@AbundantlyMinimal
5 жыл бұрын
You are very welcome, Marina!
@momof2momof2
5 жыл бұрын
Wow, so many financial changes ! We lived in an old condo for 18 yrs in So. Calif. In 2001 we purchased it (3 bed 2 bath built in 1971) for $179,500. I sold it in 2018 for $375K. We then moved to AZ and I bought a brand new build 1400 sq ft manufactured home and paid cash for it. You are doing very well, and some day, if you want, you can have a single family home. Well done. tfs 💐💐💐
@AbundantlyMinimal
5 жыл бұрын
Well done to you as well! One day we will switch over to a single family home too! :)
@momof2momof2
5 жыл бұрын
@@AbundantlyMinimal Thank you :) Timing and watching the housing market is key. 💐💐💐💐💐💐💐💐
@FRANCESCA01234
5 жыл бұрын
I love that you are open and give actual numbers. I find it a bit annoying when people hide them, like they would be national secret! 💐
@AbundantlyMinimal
5 жыл бұрын
Thanks, Roxi! I feel if I wasn't completely open about it, it wouldn't be as helpful of a video! Have a great day!
@sonias.7050
5 жыл бұрын
Wow you guys seem very disciplined. What do you do for entertainment? Does the food category include eating out for special occasions?
@AbundantlyMinimal
5 жыл бұрын
Great question! We did just do a big trip, so that was definitely a very fun time. To be honest, I have a blast with running my businesses, so that is fun to me! Jake really enjoys piano and we watch movies together sometimes!
@nancykay4128
5 жыл бұрын
I work on a real estate team with irregular income so this is helpful!!!
@AbundantlyMinimal
5 жыл бұрын
I'm so happy that it is helpful! :)
@erikj4432
5 жыл бұрын
I would love a video on the minimalist perspective on cash versus credit card. Also how do you set aside money for birthdays or Christmas or where does the money come from if you need a new article of clothing. I love financial videos.
@AbundantlyMinimal
5 жыл бұрын
This would be a great video topic, but since it might be a while until that happens, the short answer is that I am team credit card over cash for convenience and the cash back, but that is mostly because I am very in control and still pretty frugal, but cash is best for someone who has a harder time sticking to a budget. My side of the family doesn't do traditional gifts, so that helps a lot, so we just spend on my husband's side of the family when needed, and clothing comes from the "food and misc" part of the budget!
@cathylynnpietranton
5 жыл бұрын
Hi Sarah That was a very interesting way of budgeting your money. The hour glass. Thank you
@AbundantlyMinimal
5 жыл бұрын
Thanks, Cathy!
@beautyplayground
5 жыл бұрын
thank you for being so real with us :D
@AbundantlyMinimal
5 жыл бұрын
You are welcome! :)
@elisemoser
3 жыл бұрын
I really appreciate how you use real numbers to explain where your money is going. I recently became self-employed and I’m navigating budgeting with a fluctuating income. My partner is a teacher, so our budget looks a lot like yours. Because of my new career path, I’m trying to cut down on unnecessary spending. This has led me down the path of minimalism, and I’ve been decluttering for about a month. I also made October a no-spend month for anything that wasn’t a necessity. Since I’m so new to minimalism, seeing your budget makes me wonder if you ever buy anything for yourself. I have a lot of hobbies and interests and am still drawn toward consumerist habits. Do you only replace items when they break or run out? Do you ever add new items to your home? I’m wondering about these categories that I struggle with excessively buying: art or craft supplies, books, stationery (pens, notebooks, office supplies, etc.), makeup, home decor, clothing, and shoes. I’m still working my way through your videos, so you may have already covered these questions, but do you have money you allocate for “fun” spending? Whatever that may be for you. How do you manage to avoid purchasing these things?
@AbundantlyMinimal
3 жыл бұрын
Hi Elise! Congrats on becoming self-employed! When I made this video, we had just completed a summer road trip (travel is my favorite splurge in life), and we knew we were going to be disciplined and focused. Now that it has been a while and that my business earnings have grown, we are less strict and more likely to purchase fun consumable items and we are working on things around the house. Something that might help would be scaling back the fun consumerist purchases to just one or two times per month, sort of like a monthly reward or indulgence for sticking to your budget the rest of the time? I know I have also done these kind of rewards for work goals that I have. I hope this helps!
@elisemoser
3 жыл бұрын
Abundantly Minimal Thanks for the response! Also, just wanted to say hello from over in Missouri. 👋🏻
@amyli092
5 жыл бұрын
Driving and self-owned transportation generally seems like such a time-consuming thing in my opinion. I've tried going for my license a few years back, but considering how that places issues with the environment, I'm honestly glad to not be owning a car now. I also want to point out that my boyfriend currently lives in Illinois and he's never driven a car outside of what he was taught in school, so with that being said, I feel like not owning a car could help save up a lot of money for those some people (especially if you're disabled in some way). Thank you for sharing your insights, Sarah! :)
@AbundantlyMinimal
5 жыл бұрын
That is very true! I'm already feeling the benefits of no longer owning a car myself! :)
@KITTYKITTYBO
5 жыл бұрын
Great video! I completely understand both sides of the mortgage debate. But after having gone through foreclosure, due to unexpected job loss, I'm with you sister!
@AbundantlyMinimal
5 жыл бұрын
I'm sorry you had to go through that foreclosure.
@KITTYKITTYBO
5 жыл бұрын
Awww thank you- thanks to all the youtubers who put themselves out there like you, making MUCH better decisions and preparations now- that will NEVER happen again. :)
@jennyhughes6597
5 жыл бұрын
HI Sarah, I agree with you in not liking car payments. We drove our previous car for 13 years. It was a used Buick. It was time to get another when it just seemed to come to the nickel and dime time. So we found another Buick a 2003. We have had it for 3 years and hope to get as much wear as the old one! Loved the video!
@AbundantlyMinimal
5 жыл бұрын
That is wonderful! We will be doing very similar things!
@melissabee4152
5 жыл бұрын
The most effective technique for me personally is to limit my leisure spending each month. I don’t focus on costs I can’t control (e.g. rent, insurance, normal groceries, etc.) but focus instead on giving myself an “allowance” for nonessentials such as dining out, movies, extra clothes, etc. It’s surprisingly easy to spend lots of money on things we don’t need, so this method forces me to really think about WHAT I want to purchase with my allowance without overspending. Not only has this helped me save money, but it also makes me appreciate the leisure items I chose to purchase.
@AbundantlyMinimal
5 жыл бұрын
Thanks for sharing, Melissa!
@sandrafromscotland
5 жыл бұрын
Hi Sarah. Interesting as always. Amazing plan for owning your condo in 2 years. Heading over to your new channel now 😎
@AbundantlyMinimal
5 жыл бұрын
Thank you, Sandra! You rock!
@sandraozio2872
5 жыл бұрын
Great video! You are very organized and focused! One question: how do you save for your amazing trips?
@AbundantlyMinimal
5 жыл бұрын
Thank you, Sandra! When we have a trip coming up or know we will take one, we create a special fund just for that. For this past road trip, we started saving $500 a month in October until we had saved up enough! Of course, when I was teaching, I did have a bit more discretionary income, so that helped! :)
@sandraozio2872
5 жыл бұрын
@@AbundantlyMinimal That's great! I do need to have this habit of creating specific funds. Thanks, dear!
@joycekemnitz8647
5 жыл бұрын
@@AbundantlyMinimal p
@maxinechivers3210
4 жыл бұрын
I had a mortgage from August 2010 until June 2017. I paid it off by using over payments and a number of small lump sums. I feel much happier without that mortgage I had in the past.
@katiethomas5889
5 жыл бұрын
I think this is a reasonable budget, it isn't too rough but it allows some give and take for a comfortable standard of living, especially since you don't have a traditional job. I recommend getting a gently used car if possible ( I never buy new cars). I want to have a more itemized budget coming up, because I hate that I can't remember buying things.
@AbundantlyMinimal
5 жыл бұрын
Thanks, Katie!
@fionnvance4798
5 жыл бұрын
It's like your brain works exactly like mine, this is very similar to how I budget!
@AbundantlyMinimal
5 жыл бұрын
Great minds think alike! :)
@JillyC5
5 жыл бұрын
Loved the clear and honest breakdown, I'd be interested to know about your retirement goals? You're clearly investing really well and I wondered if this is to enable you to retire early?
@AbundantlyMinimal
5 жыл бұрын
Thanks, Jilly! You know, the funny thing is I don't have a set retirement goal, I just know I want to make sure we have enough haha :) We are both 27 now, so still pretty young, but I have always been amazed by what a difference it makes in the long run to save up more earlier on!
@bernadettejohnson7430
5 жыл бұрын
Wow I like this! This is kinda similar to how I budget but I don't do the negative thing. It might be worth breaking down some future goals and giving myself those numbers though so I know how much more I would like to start earning. You should check out Sarah at the blog sustainable cooks. I don't know how easy it would be to find now but at one point she did a budgeting series and explained how they used to do things with her husbands inconsistent income. I know that there were a few budget categories that got a percentage of whatever his income was that month instead of a set dollar amount and I thought that was very interesting.
@AbundantlyMinimal
5 жыл бұрын
Thanks, Bernadette!
@alexandra109
5 жыл бұрын
Great video. Appreciate seeing a different type of budget!
@AbundantlyMinimal
5 жыл бұрын
Thanks, Alexa!
@anabeatrizdiniz1
5 жыл бұрын
This is great! Thanks for sharing!!
@AbundantlyMinimal
5 жыл бұрын
You are welcome!
@piercrab7595
5 жыл бұрын
Great video!! You explain things so clearly. Do you budget for home repairs?
@AbundantlyMinimal
5 жыл бұрын
Thank you, Pat! If it is an emergency, those could come out of the house fund. If it is something more fun, like remodeling or upgrading something, we would budget for those in advance.
@emeliethomas5351
5 жыл бұрын
Interesting method and you explain it so well!
@AbundantlyMinimal
5 жыл бұрын
Thank you, Emelie!
@emilyvbr1878
5 жыл бұрын
Wow, this was so clear. Thanks
@AbundantlyMinimal
5 жыл бұрын
I'm so happy to hear that, Emily!
@lifeskills1014
5 жыл бұрын
I am curious about some categories we have here in Canada I don't see in your budget. Transportation. Home Insurance (fire. theft etc.). Thanks
@AbundantlyMinimal
5 жыл бұрын
Great question! As I described in the video, the utilities section includes these categories! We pay $51 for combined car and home insurance, and $100 for gas. I won't be commuting anywhere next year, and we don't have much public transportation by us, so the utilities cost covers it all!
@c0uc0u
5 жыл бұрын
I like your concept, thank you :)
@AbundantlyMinimal
5 жыл бұрын
You are very welcome!
@ambeegaming76
5 жыл бұрын
One day I'll make enough money to be able to make a budget xD
@AbundantlyMinimal
5 жыл бұрын
Absolutely!
@kelseym2307
5 жыл бұрын
Great video I will try this method thankyou for the breakdown. I am surprised you do not have a baby fund as I remember you mentioned that you are trying soon 😃
@AbundantlyMinimal
5 жыл бұрын
I think we will start a baby fund once we get pregnant! Most of my friends with kids tried for 3 to 7 years to get pregnant, so I know it is not necessary a quick process. In the meantime, I'll try to set myself up for success financially in other ways! :)
@Woeschhuesli
5 жыл бұрын
There is no bank in Switzerland any more that pays any interest worth mentioning... pretty frustrating
@AbundantlyMinimal
5 жыл бұрын
I'm sorry to hear that. The high-yield savings accounts I am mentioning are not with traditional banks however, and most are online, if that helps. I'm not sure what the laws are in Switzerland.
@shortmashins4031
4 жыл бұрын
Good video..have you thought about airbnb your extra room. I do it with mine
@AbundantlyMinimal
4 жыл бұрын
Thanks! We did think about it. I love Airbnb, but our city is not one that is very popular, and we will be using the room for a baby's room in the future, so it didn't seem worth it to buy a bed and other furniture items.
@KatyInNH
5 жыл бұрын
Great approach 👍👍👍
@AbundantlyMinimal
5 жыл бұрын
Thank you, Katy!
@bbygrlpt2
4 жыл бұрын
Loved this video! Im almost 30 and have 30k saved in a regular savings acct. But what do you think its best to do with it to get a little more interest?
@AbundantlyMinimal
4 жыл бұрын
Well done! I would shift from a traditional savings account and put some in a high-yield savings account, as well as see if you can start your retirement account if you have not yet done so!
@johntiedemann2520
5 жыл бұрын
Hi Sarah ! I’m going to use these numbers, do you have other numbers we can use?
@AbundantlyMinimal
5 жыл бұрын
I would recommend reflecting on your own financial goals to set numbers that are best for you!
@Momsolo
5 жыл бұрын
Just curious, do you allocate for car insurance?
@AbundantlyMinimal
5 жыл бұрын
Of course! I mentioned it in the video as part of our insurance payment.
@lindalucia970
5 жыл бұрын
Hi Sarah you dont go on holiday or travel?
@AbundantlyMinimal
5 жыл бұрын
Great question, Linda! My husband and I have done tons of traveling (about 20 countries and 40 US states) in the last five year, but I have not included it in the budget because we are phasing it out for a while, so I can focus on my career transition and in preparation for babies! :)
@JoanDam248
5 жыл бұрын
Interesting. What will you do, if you do not earn enough money?
@AbundantlyMinimal
5 жыл бұрын
Great question! I really don't think it will be an issue, but the blunt truth is that Illinois is in the midst of a big teacher shortage, so if I really had to go back, I likely wouldn't have too tough of a time.
@JoanDam248
5 жыл бұрын
I hope it will work well for you 😊
@erikj4432
5 жыл бұрын
Do you have separate accounts for each fund you are saving money for?
@AbundantlyMinimal
5 жыл бұрын
Yes! They are are separate accounts in my overall high yield savings account!
@leedezern6862
5 жыл бұрын
Do you mind sharing how much you have in an emergency fund?
@AbundantlyMinimal
5 жыл бұрын
Sure! At the moment, we have $11,000 in our emergency fund, but we would like to get it up to $16,000 to have more of a cushion!
@cheryllee8717
10 ай бұрын
I cant believe your gas and utilities are so cheap!
@karolinawiecha5424
5 жыл бұрын
What happend that you are not teacher anymore ?
@AbundantlyMinimal
5 жыл бұрын
Great question, Karolina! I explain it in this video: kzitem.info/news/bejne/uZCBmK6Bn2mreoY
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