Ladies Finance Club - Get Rich Budget Like A Boss with Lexi Smith
Are you ready to budget like a boss? In this episode, we sit down with money coach Lexi Smith to chat about the B-word budgeting, breaking it all down so you can get control over your finances!
Lexi takes it back to basics for us. Budgeting is working out where we stand and what we want to achieve and coming up with a plan to get there. She explains that budgeting does not have to be hard - the hardest part is often starting.
First of all, work out the categories for your budget. Lexi gives us the most common categories, so grab a pen and note them down! She also helps us work out what to do about those often-forgotten categories like Christmas and holiday spending. Lexi also has a really nifty trick which will help you save time and make sure your budget is accurate - bank statements (and how to download them!).
Most importantly, there is no one size fits all budget - it’s about working through the different methods of budgeting so that you can find the one that works for you. One method that might work for you (and used by Lexi’s clients!) is the Traffic Light Activity. This helps you work out your needs and wants and put a stop to unwanted spending habits! Lexi also breaks down the 50-30-20 and zero-based budgeting methods, as well as how mindful and intentional spending can help you move closer to your goals!
Finally, Lexi takes us through the mistakes she sees people making with both their budgeting (and spending!) and the differences between a money coach and a financial planner.
Get your pen and paper ready ladies because this one’s a goodie!
Resources mentioned:
The Bucket Method by Barefoot Investor by Scott Pape
90 days - Rachel Cruze
CONNECT WITH LEXI SMITH
Website: https://moneyvine.com.au/
Instagram: @moneyvine.au
Facebook group: https://www.facebook.com/groups/savvysisterssociety
CONNECT WITH LADIES FINANCE CLUB
Join our free facebook group - Ladies Finance Club Money Chat
Website: https://www.ladiesfinanceclub.com/
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