Short YouTube segment by Ramit Sethi arguing that traditional budgets fail and proposing a forward-looking “conscious spending plan.” He states you only need to track four numbers—fixed costs, savings, investments, and guilt-free spending—and offers a downloadable template of his conscious spending plan.
So how can you use your money to live a rich life and stop worrying about it? Well that's what I'm going to show you. The first thing is that everyone says you should make a budget but budgets don't work. You know that you're watching this right now because you probably tried and it didn't last. In fact, I know a lot of the people who write the books telling you to keep a budget. They don't even keep a budget. Nobody sticks to them. And I'll tell you why. Because budgets look backwards. What you really need to do is is look forward with your money. There are only four numbers that you need to track. Number one, your fixed costs. Number two, your savings. Number three, your investments. And number four, my favorite one of all, your guilt free spending. That is exactly how my conscious spending plan is set up. You can download your own free copy of the conscious spending plan template and use it yourself.
