Hi Ira! Today i got my first paycheck and did my first cashstuffing! I'm really happy and i hope by the end of this year i'll be able to buy something from your etsy store ❤❤❤❤❤
@BudgetwithIra
Жыл бұрын
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@bethdoe4635
Жыл бұрын
I slightly disagree with some of the categories things have been put in - but that is what makes personal finance, personal. Some of your savings challenges are for things like clothes, holiday, tattoo, and these things I’d consider wants. Savings for home, emergency, pension are genuine savings. So overall, I think your ratios are slightly closer than what you think
@BudgetwithIra
Жыл бұрын
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@amilamixe
Жыл бұрын
I was thinking the same, maybe clothing, tattoos, even holiday or iPad, I'd consider wants (short term goals)
@leahmcdermott4189
Жыл бұрын
I totally agree tbh, all of my savings are for emergency fund, rainy day, house deposit, and long term investing like S&S ISA, LISA, retirement. Things like holiday, tattoo and clothes is definitely discretionary and not really savings 💕
@kat_ie_9984
Жыл бұрын
Savings for me are savings until I've physically spent it. The amount of times I've saved for x,y,z then not spent it on the intended thing 😂
@kat_ie_9984
Жыл бұрын
I compared our budget to this rule before and ours very different in percentages. It was 40% needs, 35% wants and 25% debts savings and investments. I was fine with that.
@BudgetwithIra
Жыл бұрын
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@Shridra
Жыл бұрын
I watched a video on this rule a while back, and I know some people actually swap the wants and savings, so 20% wants and 30% savings/extra debt. I try to keep closer to that for myself, since I'm trying to save for my kids future and a house for us =)
@BudgetwithIra
Жыл бұрын
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@EllieOnEarth
Жыл бұрын
Watching while getting ready for work. I’ll have to try this myself. Thanks for sharing. 🌺
@BudgetwithIra
Жыл бұрын
Why not bestie??!! 🌈
@mariajohnson6400
Жыл бұрын
This was really interesting I've been budgeting for nearly 3 months really enjoyed doing it wished I had done it when I was working full time I'm 63 and only work 10 hours but it's great to watch others.
@JeffinerM
Жыл бұрын
I think that the 50/30/20 sounds really aspirational, but not sure how realistic it is, like you say. However, I am learning to re-think how I am planning my budget thanks to you advocating to include a healthy amount of spending money, because that seems to be where I'm tripping up month-by-month, so perhaps I should look at increasing it even more? Hmmm... 🤔🧐✈ Thank you Bestie! 🧡
@RhymingMime
Жыл бұрын
This has always been something that stuck out about you to me -- You keep you spending money so low -- but I also have alot of hobbies that take money, like live music etc, where maybe you put that into some of your specific "wants" like streaming etc. Youre an inspiration, Ira :)
@BudgetwithIra
Жыл бұрын
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@DeidresBudgetingJourney
Жыл бұрын
Great idea for a video. Never a bad thing to be saving more. ✈️
@BudgetwithIra
Жыл бұрын
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@blackbeauty7499
Жыл бұрын
I have just officially changed how I budget and I’m 6:44 in wow I’m on a low budget but so much better already thank you… I need to get that book 📕🤗💕 That was absolutely fantastic to watch ✈️✈️✈️
@BudgetwithIra
Жыл бұрын
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@Paladin_Artemis
Жыл бұрын
I'm starting to write out my income/outgoings so I can start saving. Thank you for making starting this easier for me because it's overwhelming ❤ ✈️
@BudgetwithIra
Жыл бұрын
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@lah5.
Жыл бұрын
Interesting video Ira, thank you. You work so hard and put out so much content for us!! ✈️
@BudgetwithIra
Жыл бұрын
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@Bindersandcash19
Жыл бұрын
I would say my wants would be eightty per cent lol,hopefully the cost of living will come down. Your doing great Ira x
@BudgetwithIra
Жыл бұрын
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@Dollcan
Жыл бұрын
I just might have to try this fingerings. Love playing with the numbers
@BudgetwithIra
Жыл бұрын
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@auntyharry
Жыл бұрын
Hi Ira! I think this was a cool video, but I guess I just want to add a word of caution. Even though saving for a house deposit is intense, the nature of home ownership will mean that there’s no way that 30% amount of money would be freed up for “wants”. When you own your own place, there are so many additional expenses associated with it. Something always needs work…there will be spending goals for decorating, repairing, landscaping….all sorts of things. I don’t want to sound like a “know it all voice of doom” but home ownership will definitely bring financial challenges that are unforeseen, at this stage. ✈️
@BudgetwithIra
Жыл бұрын
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@kat_ie_9984
Жыл бұрын
Pretty much all of the things you listed about home ownership are wants not needs. You don't need landscaping, new kitchens, decorating etc and you can do them slowly if you want. I mean I've lived in my owned house for nearly 7 years and only spent £3k on needs for the house.
@amilamixe
Жыл бұрын
I loved this video Ira❤❤❤ it was different but it makes you (us) re-think about this budget theme..
@BudgetwithIra
Жыл бұрын
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@Lillith.
Жыл бұрын
The 50/30/20 rule if you can make the 50% is a great start I think, but I would switch wants and savings. If your income is 2000 you would spend 1000 on needs, so basics is covered. You can then spend 600 on frivolous stuff and would only put 400 to savings. That just doesn't make sense to me.
@BudgetwithIra
Жыл бұрын
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@maryjoglenn1731
Жыл бұрын
✈️ interesting concept - thanks for sharing
@latanyaneal4070
Жыл бұрын
❤ good afternoon 😊
@BudgetwithIra
Жыл бұрын
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@chelsiedrysdale7341
Жыл бұрын
Maybe track you saving every quarter then treat your self with a set amount. 3-4 times a year.
@BudgetwithIra
Жыл бұрын
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@meghanhonohanacra
Жыл бұрын
Great video Ira thank you for taking the time to explain this concept. I use the Dave Ramsey plan which is even more extreme than this plan. 😊 hope you have a fab weekend.
@BudgetwithIra
Жыл бұрын
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@Versionof8
Жыл бұрын
It’s extreme depending on what baby step you are on … baby step 6 here 😊
@meghanhonohanacra
Жыл бұрын
@@Versionof8 we are on baby step 7. We just paid off our home in March Super excited for our future being 38 and 40 it is a life changer
@greenpanda2184
Жыл бұрын
Do you know that Skipton Buillding society are now offering a 100% mortgage. It’s locked at 5.49% for 5 years but really with the way interest rates are going that could actually be a good rate to be locked in at.
@BudgetwithIra
Жыл бұрын
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@marie-luisemojzis3302
Жыл бұрын
Are sinking funds and emergency funds savings? Don't think so. Just bulking up money for expected and unexpected future needs.
@BudgetwithIra
Жыл бұрын
🖤
@squadmeta
Жыл бұрын
Well spotted, sinking funds are generally expenses, the lower the better! Seems to be lost on a lot of budgeting channels.
@amandasteed3706
Жыл бұрын
Just wondering, do you not have contents insurance for your belongings? I know your landlord will have to have the house covered but not sure if anything happens to yours and Jake’s belongings that they would be covered? 9:40 9:43
@BudgetwithIra
Жыл бұрын
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@bpennington148
Жыл бұрын
Very interesting video. I may have to check this out. ✈️✈️
@BudgetwithIra
Жыл бұрын
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@lottiebeard1638
Жыл бұрын
I normally avoid watching videos about ratios as they just do not apply to our situation and tend to stress me out. But I did watch and may at least calculate what our ‘perfect’ income would be even though that is not realistic for us right now. I suppose it is at least be informed and working towards that.
@BudgetwithIra
Жыл бұрын
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@RoseAngella
Жыл бұрын
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@BudgetwithIra
Жыл бұрын
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@charlotteanncooke6834
Жыл бұрын
All my income goes on bills I don’t even have a pound spare :(
@Dollcan
Жыл бұрын
Did a quick figuring. Our needs are at 60% of our income. That includes all food so could be managed a bit lower. Eek. We’re on track to be debt free January 2026. Whew
@BudgetwithIra
Жыл бұрын
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@pammasheppard1338
Жыл бұрын
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@BudgetwithIra
Жыл бұрын
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@crunchingwithcris
Жыл бұрын
💗💙💗
@BudgetwithIra
Жыл бұрын
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@jennytrystobudget8564
Жыл бұрын
✈️🤗
@BudgetwithIra
Жыл бұрын
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@bethbeckermeyer1732
Жыл бұрын
✈️✈️✈️
@BudgetwithIra
Жыл бұрын
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@stephanieparker624
Жыл бұрын
Great video. I agree that you can't keep saving the way you are really long term, but for now it's good because you have a goal. After that, you can do more self-care.✈️
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