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Essential Budgeting Tips for Beginners | TikTok

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Script ID #255
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Please stop using one bank account for all your money. You need to create some separation with your money It's gonna help you manage it better and it's gonna actually help you hit your goals a lot faster Here's your current situation you have your one account and all of your money is in this account and everything is just flying out everywhere You see how crazy this looks you got your rent you got your gas you got your door dash Amazon you got some candy that you bought your Netflix subscription came out your car note came out Oops, hopefully you have enough money to buy groceries at the end of the month You don't have enough you don't have enough to save you don't have enough to put anything extra towards your debt and actually You're probably going further into debt because you're not managing your money We are not doing this anymore this year and I'm gonna show you a better way rather than just holding it all in one account You're gonna have at least two checking accounts in this scenario first as your spending account next is your bills account Hopefully you also have a savings account, but we're not talking about that right now So maybe your paycheck comes into your spending account and it direct deposits there Then you're gonna send money to your bill account for whatever bills have to be paid your bill money It's just gonna sit in this bill account and this is where you're going to pay your bills from nothing else comes out of this account other than bills Now after you separate out your bill money you can go on to cash stuff or digitally cash stuff things like grocery Gas, pets money for your kids money for home repairs or car repairs or whatever the ideal thing to do is just to leave Your fund money you're spending money in this account that way you know that you can free spend from this account and you are not gonna Accidentally spend your bill money or your grocery money or anything else You can physically pull this cash out at the bank or you can create more accounts to keep the money in or you can get an Account with buckets in it to where you can separate the money You might not think you have enough money to even separate it But I promise you you will be surprised if you start doing this This is going to change the game and it is really gonna help you get on track and stay ahead One thing to make sure of is that when you have multiple checking accounts make sure they do not have any fees Associated with them for like minimum balances or anything like that You want to have fee free bank accounts that are also FDIC insured if you want more tips like this to help you start budgeting correctly Start saving paying off your debt and even investing to grow your wealth go check out my free training It's at the top of my page. It's gonna get you right It's not your fault. You didn't learn this stuff But now it's your responsibility to learn these concepts and put them into practice so that you can actually make progress You got this friend