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No Cookie Cutter Budgets (Podcast)

No Cookie Cutter Budgets

In this episode, I discuss why I don’t believe in “Cookie Cutter” Budgets.  Many financial gurus try to sell people on a one-size-fits-all formula of financial management, which is destined to fail for most who try it.  I explain about why it’s important to create a budget customized to your family’s situation, needs, and goals.  Yes, there are some overarching guidelines that are good for everyone to follow, but how those play out in your individual life are unique – and that’s a good thing!  I also answer the following two questions from my listeners: 

  • Should I use money left over in my budget to pay off debt, my mortgage, or save for retirement and college?
  • Every year it seems that we pay more for our monthly expenses.  Are there parts of our budget that are negotiable?  What’s the best way for us to go about reducing those expenses?

Spread the Word!
Christine Luken
 

Click Here to Leave a Comment Below 15 comments
Robin (Masshole Mommy) - December 9, 2014

We paid off our credit cards in a lump sum and it was the best decision we ever made.

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becca - December 9, 2014

I would love to find a way to pay more on my mortgage so I could get rid of it as it’s our biggest expense.

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Chelle @ Oh Just Stop Already - December 9, 2014

It took us a long time to find a routine and budget that would work for us. But I’m debt free and our next goal is my husband. So yay for small steps.

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maria @closetohome - December 9, 2014

We need to be better about a budget since income is not steady we are both in sales.

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Debbie - December 9, 2014

We gave up credit cards about 7 years ago. Budgeting is the way to go.

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Ronnie - December 9, 2014

You are 100% right. There is no one solution to every person’s financial problems. We all have different issues, backgrounds, needs and situations. Great advice for people looking to negotiate down recurring expenses!

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Liz Mays - December 9, 2014

It’s great that you can help people use their money wisely. I know it can be difficult sometimes.

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Amy Desrosiers - December 9, 2014

Thankfully, we are on a budget and have been doing a good job at sticking to it. I think there is always room for improvement, but so far, so good.

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Christina Berry - December 9, 2014

I firmly believe every family should have a budget, and responsible money management is something we should teach and exhibit for our children. Thanks for sharing!

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Mama to 5 BLessings - December 10, 2014

Thankfully my husband’s student loans are paid for after many years. The only big debt we have is our mortgage.

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Lisa - December 10, 2014

We pay off our credit cards each month.

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Debbie L. - December 10, 2014

We are debt free and we adjust out monthly budget each month. A cookie cuter approach to life does not work.

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Amanda Love - December 10, 2014

When it comes to paying off stuff I usually leave that to hubby to do. He’s better at finances than I am.

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Wendy @ ABCs and Garden Peas - December 10, 2014

These are hard questions to answer. I often wonder where I should focus my payments. I guess it’s true that every situation is unique and needs an individual plan!

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Lexie Lane - December 11, 2014

I hear ya! I feel like it doesn’t end on our side either.

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