Today’s guest on the Consumerism Commentary Podcast is J.D. Roth, author of Your Money: The Missing Manual and the personal finance blog Get Rich Slowly. A few weeks ago, J.D. gave a presentation at an Oregon public library about building and maintaining a budget that works. He adapted the presentation into an article.
Today, J.D., Bryan J Busch, and Flexo talk about roadblocks in the budgeting process and how to design an effective budget.
Table of contents
— [00:00] Introduction from Bryan J Busch
— [00:33] Interview with J.D. Roth
— [00:53] “Do what works for you,” and try again if it doesn’t work
— [02:13] The Balanced Money Formula
— [03:10] Budgets with too many categories seem oppressive
— [06:39] Only spend what you can carry
— [08:07] Some people literally can’t keep their Needs under 50% of their net income
— [11:33] What turns a Want into a Need?
— [12:43] Paying off debt isn’t a Need or a Want, it counts as Savings
— [13:37] For some, giving to charity is considered a Need
— [15:38] Annual budgets are more accurate
— [18:51] Moving from normal salary to full-time freelancing
— [22:22] J.D.’s new project: AwesomePeople.com
— [26:56] End
We always welcome feedback from listeners. If you have any comments for this episode or for any other, or if you have suggestions for future episodes, please leave us comments here or email us at podcast at this domain name.
Theme music by Mindcube.