316: Spending Categories to Cut During a Downturn | Mindy & Carl’s Budget Review
When building your budget, do you have a line designated for “economic downturn” or “high inflation?” Probably not. Many financial freaks like Carl and Mindy Jensen don’t prepare for economic anomalies like rampant inflation or double-digit stock market losses. And like most Americans, they’re finding it hard to not spend more money every month.
Carl and Mindy understand this, but can't seem to rein in their rebellious budget. This month was their most expensive month ever. And even though these expenses were planned, they nonetheless stung when reviewing them later. But even without these accounted expenses, Carl and Mindy have noticed the cost of goods going up while their stock portfolio continues to drop.
If you’re worried about high inflation, rising home prices, food prices, and everything in between, this is a great time to make the needed adjustments to your budget. This will save you not only a bunch of time but also stress when seeing shockingly high prices for everyday things.
Even financially free couples like Carl and Mindy need to reassess, and you may want to as well!
In This Episode We Cover
Mindy’s most expensive month ever recorded and why you should never books flights a month in advance
Categories you can cut when an economic downturn hits so you (and your family) stay safe
Why saving is more special when you can truly enjoy the things you’re spending on
Rethinking early retirement and why now may not be the best time to leave the workforce
Budgeting, expense tracking, and keeping an eye on your overspending (before it gets out of hand)
And So Much More!
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