Overview: 

We've probably all tried to create a budget, then tracked it for a month, fallen off the band wagon…after trying this very cycle again in a few months.

So why is it so darn hard to stick to a budget?

Society tells us that we need to have a budget and if you don't have one…get one asap. OR if you don't stick to it then you're a failure, or in capable of managing your money well. 

What's in the episode?

In this episode, Cat and Christine dive into the pros and cons of budgeting and money psychology. Should we just ditch the word “budget” entirely and re-frame this money behaviour as planned spending? We think so. 

Specifically, we cover:

• How our brain reacts to the word budget 
• Whether ‘slimming down the fun' is ever possible 
• Changing our mindset to being goal oriented rather than going without
• How often you should review your spending
• Getting out of a binge-spending cycle
• Knowing your spending style and triggers
• Managing budget and spending guilt
• The 50/30/20 budgeting rule
• Paying yourself first – what it is and how to do it
• Creating positive behaviours when it comes to budgeting
• Managing a budget with a partner
• How to practically set up your bank accounts

1. The best budgeting spreaddy ever
2. What is 50/30/20
3. Understanding Pay Yourself First in more detail
4. The buckets method