How To Build An Anti-Consumerist Budget
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In our latest series, The Budget Fix, TFD creative director Holly Trantham and financial educator Berna Anat dissect real-life budgets to help you better reach your long-term money goals. In this episode, budgeter Padma is figuring out how to budget with a big income increase (from $65k to $130K), first-gen financial responsibilities, and finally being able to spend on herself, all without giving in to overconsumption and lifestyle inflation.
Thanks to our amazing cohost Berna Anat!
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DISCLAIMER: This is for educational and entertainment purposes, and folks should always seek help from a licensed financial professional for their individual situations.
00:00 Intro
00:30 Ad break
01:36 Meet Berna!
04:16 Our budgeter, Padma
11:30 Padma's current budget
25:34 Mild budget fix
32:32 Medium budget fix
35:34 Spicy budget fix
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Oh i thought this was gonna be a more inclusive scenario but idk anyone who lives in a major city and makes 6 figures
Yeahhh that’s what I thought too 😅 I was like damn ppl watching financial diet are wealthy asf.
Yeah it’s disappointing they don’t use more average / median income people or examples
But we’re just looking at one person here, how is one person’s life supposed to be “inclusive” of every single lifestyle that exists in the country? Many young people are living like the example here, if we’re not allowed to have any episodes focused on them, that’s also not inclusive, right?
@@rachelmaddowswife8713I believe this is a challenge of putting a high salary individual as a scenario bc this is the first episode of this budget fix it series. Starting a series off with wealthy city couples is not a reality many of us subscribers face. I agree, that yes this can be inclusive to different salaries for sure. But the first episode/pilot should kick off with the common people’s income.
This example is so relatable to me. I went from 40k to 140k a year. Super hoping they do an episode for those in the 40-60k range soon though.
I can’t believe I’m here this early!
Can’t relate, I’m gone.
Could you include a single person who lives alone in this series? I think there are more challenges with budgeting when you don’t have shared expenses.
100%! I just commented something similar. As a single woman, I can’t even get close to $1k in rent in my city with roommates. The single struggle is real!
Yes! And things like food portions are usually designed for 3-4 person households, and smaller portions are almost always less economical.
The budget game is quite different when it’s you and yourself shouldering all the expenses.
@@veronicaclephas7570Food is one of the few areas where you can often take advantage of things designed for people who aren’t single as a single person – preparing and freezing food (both as ingredients or as prepared dishes, for cooking days and low-energy days both) can let you spend very little on food. It isn’t “free” in the sense that it takes a little time a couple times a week, but I had a one-person warehouse store membership for years and very low grocery bills. I even found ways to portion out in reusable containers (mostly upcycled tubs from food – nut or yogurt tubs, jars) so I wasn’t having to pay for consumable plastic bags or waxed paper.
Between the freezer and knowing the difference between best-by dates and actual expiration you can get away buying family size and save a ton.
750 a month for food is a LOT for one person. Not sure how that is considered reasonable. That could feed a family of 4 for a month.
I know is as a single person in Los Angeles.… My food budget has over $1000 a month for more than a decade. Maybe it has to do with where we live.
Yeah, I feel like food prices on the West Coast are definitely more expensive than some other places in the US
1000 is even more crazy. I spend 200-300 a month.
East coast here. $300/month is more than sufficient for a single person in NJ
Definitely agree. I track my spending carefully. I’ve spent 94$ so far this month on groceries.
Her share of rent in a major coastal city is only $1k? Damn, that’s a sweet deal. Single tax is so real! Even a room in a decent (far from luxury) place with a roommate is about $2k where I live on the upper east side of Manhattan. $1k a month wouldn’t get you a studio anywhere within commuting distance to NYC. She is living the dream.
Let’s do a scenario of coming up from low asf income, being the first in your family to have a steady career/finances and learning to manage money the best way that no one has got to before in your family (savings, retirement, emergency funds, mutual aid, etc..). I enjoy this series but folks here in the US that 16% range of making over 100k and even further down the line of a YouTube channel helping folks manage money in a human welfare approach. Idk how many of those 16% folks are here. Unless they two are getting f**ked by the economy (price inflations, housing market, etc…) or maybe just interested in learning budget tips. Either or plz create scenarios that represent a majority of the US populations income.
❤
Hello everyone! A quick heads-up that this series will feature various income ranges. Over the next few weeks, our episodes will feature budgeters earning in the $85K and $60K ranges.
We are really hoping to make more of The Budget Fix in the future! As a reminder, we can only highlight budgets we receive in our submissions — if you’re a lower-income earner and want to see us review your budget, we would absolutely love to! Use the submission form here: https://docs.google.com/forms/d/e/1FAIpQLSf9RXKpm5MSm0vly3IGwgQ8SZJy8pEThRm-bHIzbtK4Vy-_ig/viewform?usp=header
Thanks all -Holly
Tysm! I will the form rn and thank yall for the openness and transparency and communication 💓🙏🏻🌻
Love the keffiyeh in the background!
Bernaaaaa!! 😍
My rent is 40% of my take home pay, as a single person. Padma’s is 15% (or 20% if you remove her deductions). I wish my rent weren’t so dang high.