[Music] hey you guys well first and foremost happy New Year ah it is the start of a new year and I just love a fresh start so here we are in 2024 so today I want to talk about something that a lot of people live in fear of when it comes to their money and this isn't one of those fears that just magically goes away once you decide that you want to be wise with money yeah I'm talking about the fear of over draft and before you say Rachel I've never overdrafted in my account like it's been years since I've done that or I'm a saver so I don't even have to worry about excess spending well I don't want to break it to you but I will you might not be as Invincible as you think you are listen overdraft pops up in really sneaky ways especially if you're doing buy now pay later purchases and you forgot about them or a monthly charge for your iCloud storage if you are brand new to budgeting there are nuances that take some time to learn but guess who has done her time yes I have four reliable budgeting tricks that can be absolute game changers for my bank account and I want to make sure that you know about them so number four so I really made this tip basically my entire personality I am a natural spender especially when it comes to Amazon Amazon clothes and jewelry and all the things and I knew this about myself when Winston and I agreed to make in a priority and I was worried that again I'd be the one that would overspend because historically that is me but then I thought okay my parents really kept themselves from overspending when there wasn't you know a single dollar of margin back during the years when they were coming out of bankruptcy and they were really really diligent about their budget and mom and dad took plastic completely out of the question no debt at all and so for every category in their budget there was an envelope that they would Cash Out and because you cannot physically overspend when you don't have enough money in your hands so they used it to stay really accountable number four is to cash out budget categories that you tend to struggle with now this can be a GameChanger especially those of you who are new to budgeting because it was for me that I even made a wallet to help people stay accountable when it comes to all cash spending and the system it doesn't have to be boring or frumpy like it can be really cute and really fun and so I did this for years you guys especially when it comes to food when it comes to clothes and again there are so many categories that you could look at in your budget and say gosh I need an envelope for that so make sure to check that out and there's one category in your budget that you should always have an envelope for which brings me to tip number three because keep in mind that the main goal of any budget is to make it a zerob based budget that means every single dollar has a designated purpose before the month begins but no matter how precise ice you think you're being we all have had the terrifying moments of overdraft anxiety right just picture this with me you're in the car heading to your sister's birthday dinner and you kind of spaced out all of your resources and you've allocated all of your money to the budget for every single purchase including her birthday gift and card and you even set aside $15 to pick her up some flowers for the birthday dinner but then you're 10 minutes from arriving and the host calls and asks you to stop at Walgreens and get candles on the way and this feels like oh yeah no big deal it's just candles right not a big deal but when you're working a zerob based budget $5 means you got to find $5 from somewhere and if it's not in there then that means overdraft could happen and you're thinking oh what do I do so this is why my third tip is so key and that is to add a miscellaneous category to your budget it keeps you intentional and conscious but it also serves you well because it's a little bit of a cushion that we all need when it comes to taking control of your money but if you really want to feel secure with your monthly spending tip number two is for you this one will make you feel like you have your entire life together and especially if you get paid more than once a month this is a must you know that feeling at the beginning of the month when you get paid you're feeling great about that balance in your account and then suddenly your expenses start to trickle in at the same time like your mortgage HOA Bill utility bills all this stuff starts coming well did you know know that some lenders will allow you to actually break up your mortgage into two separate payments every month and a lot of services like Xfinity or Netflix your gym membership can actually be paid at any time throughout the month you get to set up the time so you just got to call them and tell them when you want the money pulled out of your accounts so you guessed it tip number two is to strategically use autodraft so if you're not familiar with this this is where again whether it's a subscription or a membership you have that's money that just comes right out of your checking account you're not going going in and paying every single month it's automatically pulled out and you can be strategic to space this out so that you don't have to ride that roller coaster of fear of feast or famine depending on the week so it's really really key you guys so you can plan out your paychecks and you can know okay not all of my accounts are going to be hitting at this exact same moment I can spread them out and it's going to give you some margin and in leeway my number one tip is the most important and it's the one that people always think that they can Skip and for us this tip is always crucial especially after the holidays we've made it through all the craziness of Christmas but then all the subscriptions were new in January okay when February hits we should expect to be in the clear except then all the kids have to buy Valentine's for school and you have to do all this and this and then you're suddenly paying deposits for summer camps coming up and then you realize your anniversary is in February 2 so you got to factor in a date night but surely there'll be room in March no no because then there's spring break in March and expenses are coming here and there and you see my point it feels like it never ends every month is different but this doesn't mean that you have to live in a constant Panic while your budget fluctuates in a way that makes you feel out of control instead what if you decided to set expectations on the front end so you knew exactly what to prepare for every single month financially which is why my number one tip for avoiding overdraft is to adjust your budget every single month committing it to getting into the habit of budgeting may be a onetime decision but true success with your budget is an every month thing and don't forget the best way to do this is with every dollar it's a budgeting app it's amazing it lets you customize your budget every single day since you are in full control of your money and overdraft isn't even a factor so make sure to send this video to a friend who's a natural spender or saver and make sure they have the tools to keep themselves in the green and remember you guys to take control of your money and create a life you [Music] love
