The Money Mindset Podcast
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#215 Actual Accounts VS Theoretical Categories

June 11th, 2024

Are you struggling to manage your budget categories and wondering whether to use actual accounts or theoretical tracking methods? In this episode, we dive into the pros and cons of both approaches.

We'll explore practical advice on setting up multiple savings accounts, using buckets within a single account, and the challenges of maintaining a spreadsheet.

Join us to find the best solution for keeping your finances organized and stress-free.

Hosting Today:

I'm Ashley Patrick, ex detective turned debt-free CEO of my very own business and stay at home mom of three. Not too long ago, my dreams of staying at home with my kids seemed impossible. I thought I'd have to stay miserable in a high stress demanding job, just so I could retire someday.

After gaining the confidence in my own ability to manage my family's finances and a simple step-by-step plan to make it happen, I was able to pay off $45,000 in just 17 months, which then allowed me to finally quit my job, stay at home with my kids, and build a debt-free business.

Now, my mission is to help moms like you conquer debt and free themselves from the mental load of handling their family's finances.

“Remember, we want to keep things simple and set up a system that will actually work for us and that we'll follow through with. So if you make it too complicated, it's less likely that you'll follow through with that plan. So if you decide to use a spreadsheet, but you don't have time, and you don't have time in your schedule to update the spreadsheet, is it actually going to work for you? So in order for it to actually work for you, you need to have the capacity, the time, the willpower, the motivation to actually do it. And so if that's not you, it's okay. You just have to figure out a system that will work for you.”
- Ashley Patrick

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And if you enjoyed the podcast today and got some great takeaways, I’d really appreciate it if you followed the Money Mindset Podcast so you don’t miss out on future episodes

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