Show 107 - Setting Budget Resolutions the Right Way with Kristin McGlothlin
In this episode, I discuss creating budget New Year's Resolutions that you canactually stick to with Kristin McGlothlin.
12/31/20251 min read
In this episode Kristin and I discuss what budgeting is and what it isn’t, and then get real about what an effective budgeting New Year’s Resolution looks like. In just a few short minutes Kristin unlocks the mindset shift you can make to actually stick to New Year’s Resolutions and take control of your financial life.
Show Notes
Stacking Benjamins Episode on Budgeting
Recommended Books (Amazon Affiliate Links)
The Richest Man in Babylon
Key Ideas
A Budget is a decision making companion (it’s not about restriction or shame)
Being too rigid causes budgets to fail
Zero-based budgeting brings clarity and control on a teacher salary
Tracking spending first is more important than scorched Earth cutting expenses
Accountability and coaching dramatically increase success
Teachers must prioritize their own financial well-being
Bonus Tip
Here is a bonus tip I didn't get to in the episode.
Don’t set yourself a perfection goal, instead set an improvement goal. That way, if you backslide, you can simply say “It’s a good thing I can improve tomorrow” instead of making one mistake and giving up. The concept of 1% improvement I introduced last week can apply very well to New Year’s Resolutions (or any goals!).