The Next Dollar Roadmap to Financial Independence - Starting Point: How a Budget Makes You Rich
Budgeting is the first key topic and the starting point of The Next Dollar Roadmap.
Just like when you take a trip, you can’t get to where you want to go if you don’t know where you are starting from. Financially speaking, a budget tells us where we are so we can begin assembling a plan for how we can get to where we want to be: financial independence.
In this video, I’ll explain the importance of having a budget, talk about how you can assemble a budget, and give you some guidelines to follow as you set a budget for yourself and your household.
On the Roadmap, I cover a variety of financial topics like budgeting, cash savings, debt elimination, saving & investing, saving for your kid’s education, and managing wealth after you reach financial independence.
As each episode is posted, I’ll update links in this video description and place links in the videos themselves.
The Next Dollar Roadmap - • A Step-By-Step Guide to Financial Independ...
Starting Point: Creating A Budget - • The Next Dollar Roadmap to Financial Indep...
Milestone 1: The Uh-Oh Fund - • The Next Dollar Roadmap to Financial Indep...
Milestone 2: Take Advantage of Your Employer Match - • The Next Dollar Roadmap to Financial Indep...
Milestone 3: Pay Off Toxic Debt - • The Next Dollar Roadmap to Financial Indep...
Milestone 4: Full-Sized Emergency Fund - • The Next Dollar Roadmap to Financial Indep...
Milestone 5: Save 15% to 25% in Tax-Advantaged Retirement Accounts - • The Next Dollar Roadmap to Financial Indep...
Milestone 6: Invest for Flexibility - • The Next Dollar Roadmap to Financial Indep...
Milestone 7: Prefund Kid’s Education Needs - • The Next Dollar Roadmap to Financial Indep...
Milestone 8: Pay Off Remaining Debt - • The Next Dollar Roadmap to Financial Indep...
Milestone 9: Total Financial Independence - • The Next Dollar Roadmap to Financial Indep...
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00:00 - Start
00:34 – Why You NEED a Budget
01:52 – Exposing Unknowns
02:55 – Opportunity to Improve
04:03 – Measuring Progress
04:46 – Getting Buy-in
05:56 – How to Build Your Budget
06:45 – 1) Add Up Income
07:26 – 2) List Expenses
07:50 – 3) Categorize
09:02 – 4) Set Your Budget
10:48 – 5) Document It
11:44 – 6) Adjust Spending
12:27 – 7) Update Regularly
13:16 – Wrap Up
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👉 Our Financial Independence Playlist: • Financial Independence
👉 Our 401k Playlist: • 401(k) Accounts
👉 Our HSA Playlist: • Health Savings Accounts
👉 Our IRA Playlist: • IRAs
👉 Our Roth Playlist: • Roth Accounts
👉 Our Investing Playlist: • Investing
👉 Our Tax Efficiency Playlist: • Tax Efficiency
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👉 Our website: https://martinmoney.com/
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Thanks for watching! Let us know if there are any other topics you want us to cover in the comments below.
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Disclaimer: This video is for information and entertainment only. None of the contents should be considered legal, accounting, or other professional advice. You should reach out to a qualified professional before making your own financial decisions.
I try to respond to comments and questions, but I will never provide personal advice through YouTube.