Big Money Energy Budgeting Workshop
rongrong devoeWelcome to the Big Money Energy workshop, sponsored by Shop Rongrong, Featuring a special guest speaker Ilysse from Plan with Ilysse. She discussed the importance of having a positive relationship with money, setting financial goals, and tracking expenses, and demonstrated various methods for budgeting and managing finances using a budget planner and a grid system. The conversation ended with Ilysse sharing her personal experiences and knowledge about budgeting, and encouraging everyone to create a plan for their finances.
| Money Management Sticker Book & Dashboard | |
| Ilysse presented a 24-page money management sticker book, highlighting its premium quality and various categories such as spending, bill pay, and savings. She emphasized the importance of understanding one's 'why' when making financial changes, using her own transition from a full-time job to content creation as an example. Ilysse also discussed the concept of 'feeling a little spendy' and the need for balance in budgeting, allowing for enjoyment while being intentional with spending. She demonstrated how to create a financial dashboard, starting with writing down one's 'why' and goals, such as saving for a part-time position and personal growth. | |
| Managing Money and Setting Goals | |
| Ilysse discussed the importance of having a positive relationship with money and setting financial goals. She shared her personal savings goals, including saving for a job change and retirement. Ilysse also emphasized the importance of tracking bills to avoid missed payments and extra fees. She encouraged the participants to reflect on their own financial goals and why they want to budget. The discussion also touched on the importance of saving money, even if it's for something seemingly random, as it can be used for other financial goals. Ilysse concluded by suggesting the creation of a bill pay tracker in a planner to better manage finances. | |
| DIY Dashboard for Bill Tracking | |
| In the meeting, Ilysse demonstrated a DIY method for creating a dashboard for tracking bills in a planner. She used stickers and a ruler to mark out the months and spaces for bills, recommending using a dot grid paper instead of lined for better spacing. She emphasized the importance of keeping track of monthly bills and suggested using bullet point markers or highlighting paid bills. For quarterly bills, she advised marking off the months when it's not due. Ilysse also shared her experience of moving in with her boyfriend and hinted at future content creation. There were a few chat messages about Aldi, eggs, and the joy of using pens, but they didn't seem to be directly related to the main discussion. | |
| Budgeting and Tracking Expenses Discussed | |
| Ilysse discussed the importance of budgeting and tracking expenses, emphasizing the need to review past spending patterns to understand future needs. She shared her personal experience of discovering her average monthly Starbucks expenditure, which prompted her to make changes. Ilysse also highlighted the importance of considering individual circumstances when setting a budget, as her friend's grocery bill would differ significantly due to her larger family. She introduced a new method of budgeting using a grid system with income, expense, and target categories, and encouraged attendees to adapt this approach to their own needs. | |
| Effective Budgeting and Financial Management | |
| Ilysse discussed the importance of budgeting and managing one's finances effectively. She explained that a 0-based budget means every dollar earned has a designated purpose, whether it's for bills, savings, or other expenses. She demonstrated how to allocate funds based on income and expenses, emphasizing the importance of setting aside money for savings, gas, groceries, gifting, home expenses, dining out, and clothing. Illyse also highlighted the need to budget for utilities, suggesting methods such as an equal payment plan or averaging monthly bills over a year. She stressed that budgeting is not about limiting oneself but about having the freedom to spend money responsibly while achieving financial goals. | |
| Budget Planner Usage and Organization | |
| Ilysse discussed the use of a budget planner, emphasizing the importance of color coding for better understanding and organization. She demonstrated how to use the planner by marking due dates and amounts for bills, and suggested using the "to do" section for a shopping list. Ilysse also encouraged attendees to call their utility companies for average utility costs before moving into a new apartment. The conversation ended with a discussion on the versatility of the planner. | |
| Improving Financial Habits With Trackers | |
| Ilysse discussed the importance of financial priorities and habit trackers for improving one's relationship with money. She recommended daily checking of bank accounts and mindful spending before making purchases. Ilysse also introduced the concept of 'no spend' categories, such as Amazon or dining out, to help control spending. She demonstrated how to use color coding and bullet points to categorize and track expenses in a budget planner. The idea is to reflect on spending week by week to make adjustments as needed. | |
| Budgeting and Expense Tracking Strategies | |
| Ilysse discussed the importance of budgeting and expense tracking, emphasizing that budgeting involves setting a plan for oneself, while expense tracking only involves looking at spending after the fact. She suggested using a planner to track expenses weekly and make changes accordingly. Ilysse also introduced the concept of 'no spend' stickers for tracking categories where one aims to spend less. She further shared her experience of using a savings tracker and her book, 'The Cash Stash Activity Book', which contains 75 money-saving challenges. The conversation ended with Ilysse answering questions about her budgeting and savings tracking methods. | |
| Budgeting and Saving Strategies Discussed | |
| In the meeting, Ilysse discussed the importance of checking bank accounts and budgeting regularly, likening it to a morning routine. She also introduced the concept of a'sinking fund' for saving money for specific categories, such as Christmas or car maintenance. Ilysse also addressed the challenge of variable income, suggesting budgeting based on the lowest possible hours worked. She also advised on merging spending categories to avoid overwhelm and emphasized the importance of having a plan for one's money. The conversation ended with Ilysse encouraging everyone to create a plan for their finances. | |
| Budgeting and Managing Personal Finances | |
| In the meeting, Ilysse and Rongrong discussed the importance of budgeting and managing finances. They emphasized the need to understand one's financial situation and make a plan for it. Ilysse shared her personal experiences and knowledge about budgeting, and recommended reading books like "My Money, My Way" and "Rich AF". She also suggested creating a budget and tracking expenses to improve financial management. Rongrong encouraged everyone to set financial goals and stay accountable. The conversation ended with Ilysse sharing her Instagram handle for her weekly financial tips and Rongrong promising to send a recap email with resources and tips. |
