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Podcast 107: Building a Better Budget

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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:
[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.

Updated June 23, 2016 and originally published May 8, 2011.

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About the author

Luke Landes is the founder of Consumerism Commentary. He has been blogging and writing for the internet since 1995 and has been building online communities since 1991. Find out more about Luke Landes and follow him on Twitter. View all articles by .

{ 5 comments… read them below or add one }

avatar 1 skylog

bryan/flexo…perhaps i missed it, but are you no longer providing the transcripts of the podcasts? i loved that they were available, as i could read them when i was not able to listen for one reason or another.

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avatar 2 Anonymous

Thanks for the Adaptu mention J.D.!

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avatar 3 Cejay

Loved this podcast. I only recently started downloading these to my IPOD. Interesting concept and ideas.

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avatar 4 wylerassociate

this was a good podcast but flexo i’ve got a question: when talking about needs and wants regarding budgeting how does technology play a role? Is getting the latest kindle, iPhone, iPad more of want or need?

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avatar 5 Luke Landes

Tech devices are often wants, not needs.

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