Budgeting – sometimes a scary word, right?

Although it seems easier said than done, budgeting your way to things you want (like that summer vacation you’ve been after!) doesn’t have to seem so daunting; especially when you have financial gurus in your corner to help!

Facebook group Black is the New Red is a literal wealth of resources in just that – serving up their financial prowess spread across not only their over 6,000 members, they have professionals from many areas to add their expertise to the conversation with zero sales pitch.

Take a look at these budgeting tips from Lindsay Plumb, creator of the Pretty Money Club and Black Is The New Red and founder of MOOLA Financial Coaches and Advisors:

1. Identify your needs versus your wants

This may sometimes be difficult in our current society, but it’s important to be honest with yourself – do you really need that new purse or pair of shoes? There could be some tough decisions you’ll have to make, but it will be worth it in the end.

2. Include your “future self” in your budget

If this isn’t something you’ve done in your previous budgeting attempts and found it wasn’t working for you – this may be why! A family of four should be putting aside a minimum of $500 per month for life’s “expected-unexpected” events.

3. Everyone needs spending money!

In order to be fair, no less than $200 per month for each adult is a good benchmark – a family of four should have $600-$1000 available for spending.

4. Make moves if you feel you’re not making “enough”

If you’re feeling like you don’t currently make enough to get by (and save while doing so!), little things like taking up a side hustle or even asking for a raise may help – it all adds up!

5. Housing is expensive, but it’s not the most expensive! 

Housing gets a bad rap, but car payments and groceries are the real budget killers – they’re also two areas you are in control of, so it’s wise to put your time and energy into them as opposed to something that’s out of your hands.

6. Take advantage of free resources

Pretty Money Club is currently offering a FREE budget template and including five-day email instructional.

On top of this, the club is holding a summer course on how to make your money look pretty – and not scary! You can check out their website for more info and to sign up, and even better, you could be the lucky winner of free enrollment in the course.

Pretty Money Club’s 8 week summer course opens for enrollment July 2nd, and is offered for two payments of $119 plus tax – but find out you can win a free spot below!

** CONGRATULATIONS, Kristie Carano. You are our winner **

CONTEST

ONE lucky winner is going to win free enrollment to Pretty Money Club’s 8 week summer course on budgeting!

To enter, complete one or more of the following steps:

  1. JOIN Black is the New Red on Facebook and comment below to let us know once you have. (1 entry)
  2. LIKE Pretty Money Club on Facebook and comment below to let us know once you have. (1 entry)
  3. SHARE this article on Facebook and/or Twitter. (1 entry)

The winner will be drawn on Friday, July 5th. Good luck!

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