Hinesh Chauhan delivers a first-person monologue about personal budgeting and planning. He recommends creating a yearly budget and forecasting known and anticipated expenses (courses, travel, clothing, kids' activities), discussing plans with a partner, and keeping a contingency fund for unexpected costs like repairs or family emergencies.
Back to limited time and money. Which means what do you do? You have to budget for that stuff, right? You have a calendar, you have a schedule that manages time for all your other stuff. Create a budget. And what I did or what I used to do, now that I'm the only decision maker, there's no one to tell me how I can or can't spend money. However, there's less of it, arguably when I was partnered, married. For those who are what what I, this is what I'd recommend. We'd sit down every December because I'm a stickler like that and I like to forecast because if you fail to plan, plan to fail, right? I'd have my spreadsheet reach out if you need a copy of it. And I'd sit down with my ex wife and talk about, hey, you know, what does our next year look like? What are the courses you want to do? What are the girls weekends you and your friends are doing? These are the courses or training I want to pursue. These are the weekends that I know of right now. We talk about longer term goals, we talk about travel goals, we talk about the different allotments, if they're appropriate for clothing for the kids, for the kids, activities and spell it out. And we also have a healthy contingency because surprises suck, right? And things happen. Things happen where your car needs extra repairs, you need a new furnace, you need, something happens, a family member needs to take money, borrow money, you know, it's taking, it's not borrowing, it's not coming back to you. And for longer term plans like a kitchen rental or a major renovation or something, major trip or time off work so we could be off during the summer together with the kids. Didn't happen. But you know, that's, that's the kind of stuff that I think about when it's like, hey, what are those? Longer, bigger expenses. Map it out, define it, what does it look like? Build it out, plan it, but have the discussion, don't just, you know, it's August, you blew through your savings because you know, it was the, the summer of 69 all over again and you drank a lot with your buddies, she went and partied a lot with her friends. The kids had some accidents, they damaged your, I don't know, things happen. Just plan it. Because if it's planned, you don't have to worry about it.
