Uploaded October 2024 | Updated September 2026, 3 weeks ago
๐๐๐ ๐จ๐๐ง๐๐๐จ ๐ ๐๐๐ฝ๐๐พ๐๐๐ฝ๐! bit.ly/SocraticaSubscribe
Socratica Presents SMART MONEY
Many people are embarrassed that they aren't great with money. We believe it's never to late to learn! We're all about Lifelong Learning here at Socratica, and we are here to help you increase your Financial Literacy.
The theme of SMART MONEY is making informed choices.
One of the real fundamentals of being smart with your money is creating and sticking to a budget, and making adjustments as needed.
"Stick to your budget" sounds like all your fun times are over. But that isn't true! Having a budget actually means FREEDOM. Once you take a close look at where your money is going, you are now FREE to enjoy the money you spend on treats and entertainment. You know your needs are taken care of, and that brings enormous peace of mind.
There are a variety of methods used in budgeting, and in this video we'll introduce you to some of the basics that most budgets have in common. There are also a variety of tools out there to help, including apps you can try. We're not endorsing any particular app, because what works well for us might not be as good a fit for you. It's quite personal! We encourage you to try a few different tools to see if one works for you. But remember, you can always just use the simplest tools that are free, like pen and paper!
๐ ๐ช๐ข๐ฅ ๐ฉ๐ค ๐ฉ๐๐ ๐๐๐๐๐๐ง๐๐ฃ๐ฉ ๐ฉ๐ค๐ฅ๐๐๐จ ๐๐๐ง๐:
0:00 Introduction
0:34 What is a Budget
1:35 Why should you budget?
2:36 Common misconceptions
3:26 Keep Financial Goals in mind
4:12 Tracking Income
5:13 Tracking Expenses
6:33 Categorizing Expenses
7:37 Example: Zorblak and Gliptron
8:09 List all income sources
8:37 List all expenses
9:54 Calculate difference
10:09 Allocating surplus
10:51 Adjusting your budget
11:53 Living within your means
12:15 Tools for budgeting
12:58 Regular reviews
13:45 Strategies for cutting back
14:54 Building good financial habits
15:16 Peace of mind
15:29 Final tips
Have you Set your Financial Goals?
youtu.be/iqQlrF5-IJg
Quick Exercise: What's the Cost of Interest?
LINK COMING SOON
๐๐ผ๐๐พ๐ ๐๐๐๐:
Setting Financial Goals youtu.be/iqQlrF5-IJg
๐๐ ๐๐๐พ๐๐๐๐๐๐ฟ:
Wealth Made Easy (advice from Millionaires & Billionaires)
amzn.to/3yczvSb
Budget Planner & Monthly Bill Organizer
amzn.to/3WOXoZr
To continue receiving good advice about personal finance, subscribe to Socratica:
bit.ly/SocraticaSubscribe
Support Socratica on Patreon:
patreon.com/socratica
This video series is made possible by the generous support of our Patrons on Patreon. We'd like to recognize our VIP Patrons and send them our sincere thanks! NSS North Houston Space Society, Thomas Myers, KW, M Andrews, Jim Woodworth, Marcos Silva, Christopher Kemsley, Eric Eccleston, Jeremy Shimanek, Michael Shebanow, Kevin B, John Krawiec, Umar Khan, and the wonderful Tracy Karin Prell!
Written and Produced by Kimberly Hatch Harrison and Michael Lee Harrison
Edited by Megi Shuke
#Budget #Budgeting #PersonalFinance
๐๐๐ ๐จ๐๐ง๐๐๐จ ๐ ๐๐๐ฝ๐๐พ๐๐๐ฝ๐! bit.ly/SocraticaSubscribe
Socratica Presents SMART MONEY
Many people are embarrassed that they aren't great with money. We believe it's never to late to learn! We're all about Lifelong Learning here at Socratica, and we are here to help you increase your Financial Literacy.
The theme of SMART MONEY is making informed choices.
One of the real fundamentals of being smart with your money is creating and sticking to a budget, and making adjustments as needed.
"Stick to your budget" sounds like all your fun times are over. But that isn't true! Having a budget actually means FREEDOM. Once you take a close look at where your money is going, you are now FREE to enjoy the money you spend on treats and entertainment. You know your needs are taken care of, and that brings enormous peace of mind.
There are a variety of methods used in budgeting, and in this video we'll introduce you to some of the basics that most budgets have in common. There are also a variety of tools out there to help, including apps you can try. We're not endorsing any particular app, because what works well for us might not be as good a fit for you. It's quite personal! We encourage you to try a few different tools to see if one works for you. But remember, you can always just use the simplest tools that are free, like pen and paper!
๐ ๐ช๐ข๐ฅ ๐ฉ๐ค ๐ฉ๐๐ ๐๐๐๐๐๐ง๐๐ฃ๐ฉ ๐ฉ๐ค๐ฅ๐๐๐จ ๐๐๐ง๐:
0:00 Introduction
0:34 What is a Budget
1:35 Why should you budget?
2:36 Common misconceptions
3:26 Keep Financial Goals in mind
4:12 Tracking Income
5:13 Tracking Expenses
6:33 Categorizing Expenses
7:37 Example: Zorblak and Gliptron
8:09 List all income sources
8:37 List all expenses
9:54 Calculate difference
10:09 Allocating surplus
10:51 Adjusting your budget
11:53 Living within your means
12:15 Tools for budgeting
12:58 Regular reviews
13:45 Strategies for cutting back
14:54 Building good financial habits
15:16 Peace of mind
15:29 Final tips
Have you Set your Financial Goals?
youtu.be/iqQlrF5-IJg
Quick Exercise: What's the Cost of Interest?
LINK COMING SOON
๐๐ผ๐๐พ๐ ๐๐๐๐:
Setting Financial Goals youtu.be/iqQlrF5-IJg
๐๐ ๐๐๐พ๐๐๐๐๐๐ฟ:
Wealth Made Easy (advice from Millionaires & Billionaires)
amzn.to/3yczvSb
Budget Planner & Monthly Bill Organizer
amzn.to/3WOXoZr
To continue receiving good advice about personal finance, subscribe to Socratica:
bit.ly/SocraticaSubscribe
Support Socratica on Patreon:
patreon.com/socratica
This video series is made possible by the generous support of our Patrons on Patreon. We'd like to recognize our VIP Patrons and send them our sincere thanks! NSS North Houston Space Society, Thomas Myers, KW, M Andrews, Jim Woodworth, Marcos Silva, Christopher Kemsley, Eric Eccleston, Jeremy Shimanek, Michael Shebanow, Kevin B, John Krawiec, Umar Khan, and the wonderful Tracy Karin Prell!
Written and Produced by Kimberly Hatch Harrison and Michael Lee Harrison
Edited by Megi Shuke
#Budget #Budgeting #PersonalFinance
