How to Create a Budget You Love: 5 Things You Need to Know

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According to at least one survey, as many as 80% of Americans prepare a budget.

Even if you don’t believe that statistic, it’s probably safe to say that 80% of Americans have at least thought about having a budget. So, why don’t they actually do it? You probably already know the answer: Because budgets are hard to stick to.

And why is so hard to stick to a spending plan? Because they feel so restrictive! Who wants to go on a dollar diet? Nobody.

How do we fix this? How do we convert from budget hater to budget lover?

Let’s find out.

In this week’s podcast, host Stacy Johnson is joined by financial journalist Miranda Marquit. Listening in and sometimes contributing is producer Aaron Freeman. This week, money and happiness guru Jason Vitug returns to talk about how you can learn to love budgeting. Jason has a new book out, “Happy Money Happy Life,” and he’s ready to share some insight.

Remember, anything you hear on this podcast doesn’t constitute financial advice. Always do your own research and consult your own experts before acting on anything you learn here.

OK, let’s dive in.

You can watch this episode below, or if you’d prefer to listen, you can do that with the player at the top of this article or download the episode wherever you get your podcasts:

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Don’t forget to check out our podcast page for more episodes designed to help you make the most of your money and our YouTube page for more videos.

Also, don’t forget to check out our podcast sponsor, Tellus, for the opportunity to supercharge your savings with an account backed by real estate. Use the code MONEYTALK and get a special APY for seven days with a $125 minimum deposit.

Financial values and money mindset

When setting a budget that works for you, start with your financial values and money mindset. Stacy talks about this in his book
“Life or Debt,” and we tackle the subject in this episode. We also have many other articles about finding your values and improving your mindset at Money Talks News:

• How and Why to Pass On Financial Values to Your Heirs
• 5 Powerful Mental Tips to Accomplish Your Goals
• 9 Tips to Tackle Your Financial Goals and Still Have Fun
• 7 Actions to Take Now to Get the Life You Want
• 3 Mental Blocks Preventing Your Secure Retirement
• What to Do If You’re More Frugal Than Your Spouse
• Set Financial Goals: It’s the Secret to a Prosperous and Secure Future
• How to Set Financial Goals for Short-, Medium- and Long-Term Prosperity

Create a budget and save money

One of the reasons to create a budget or spending plan is to allow you to do the things you want to do.

If you’re looking for ways to save money and then redirect those resources, these articles can help:

• How to Create a Realistic Retirement Budget
• 9 Small Expenses That Are Bleeding Your Budget Dry
• 4 Tips for Setting (and Sticking to) a Vacation Budget
• 4 Money Conversations to Have With Your Partner When You Budget
• 21 Items to Cut From Your Budget That You Won’t Even Miss
• 10 Tips to Travel Abroad on a Budget (for Weeks at a Time)
• 9 of the Best Ways to Save Money on a Tight Budget
• 9 Small Splurges That Won’t Break Your Budget
• 10 Ways to Change Bad Spending Habits and Save Money

Track your spending, manage your money and save for the future

Discover a one-stop shop for all your financial needs with Money Talks News Solutions. We can help you save money on car insurance, switch to a higher-yield savings account, simplify debt with consolidation options and find the best travel credit card. Need to stay on top of tax debt? Look at home equity lines of credit, mortgage refinancing, personal loans or cellphone plans? We’ve got all that in one convenient location. Visit the Money Talks News Solutions page now. We also recommend the following tools:

• Whistleout: Save money by comparing mobile plans.
• Acorns: Set aside money for goals using round-ups and automatic investing.
• Stash: Invest toward your short-term and long-term goals
• YNAB (You Need A Budget): Set your budget and give every dollar a job.
• PlayBook: Get a financial plan that helps you get the most from your money through helpful tax savings.

Meet this week’s guest, Jason Vitug

Jason Vitug is an award-winning creator, author, speaker, entrepreneur and producer. He is the founder of the personal finance website phroogal.com, creator of the Road to Financial Wellness and champion of #theSmileLifestyle, a community devoted to experiential and purposeful living.

His TEDx Talk about breaking the money taboo is one of the most viewed talks on money, and he recently released his second book, “Happy Money, Happy Life.”

Jason received his bachelor’s degree at Rutgers University and MBA at Norwich University. He’s an avid traveler, having been to all 50 U.S. states, explored 45 countries and stepped foot on five continents. He is also a certified yoga teacher and breath work specialist.

• Website
• Twitter
• Instagram

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About the hosts

Stacy Johnson founded Money Talks News in 1991. He’s a CPA, and he has also earned licenses in stocks, commodities, options principal, mutual funds, life insurance, securities supervisor and real estate.

Miranda Marquit, MBA, is a financial expert, writer and speaker. She’s been covering personal finance and investing topics for almost 20 years. When not writing and podcasting, she enjoys travel, reading and the outdoors.