ilmscore | The Brutal Truth About Budgeting: Why Most People Fail

The Brutal Truth About Budgeting: Why Most People Fail

Published: 2024-07-04
Status: Available | Analyzed

Predictions from this Video

Total: 5
Correct: 0
Incorrect: 0
Pending: 5
Unrated: 0
Prediction
Topic
Status
A 75/15/10 spending plan is recommended: maximum 75% for spending, minimum 15% for investing, and minimum 10% for saving.
"for every dollar that you earn 75 cents is the maximum that you can spend 15 cents is the minimum that you invest 10 cents is the minimum that you save"
Personal Finance
Pending
Create a personal profit and loss statement to track income and expenses.
"you're going to create a profit and loss statement for your personal finances"
Personal Finance
Pending
Implement business financial tracking methods for personal finances.
"this is something that I want you to implement for your personal finances as well"
Personal Finance
Pending
Financing purchases with 'buy now, pay later' or 0% APR financing indicates a failed budget.
"if the numbers here are less than this because you're buying everything with buy now pay later you're buying everything with 0% AP financing that is a failed budget"
Personal Finance
Pending
Home financing is an exception, but cars should ideally be purchased with cash.
"the only exception to this is your home and yes you should not be financing your car either"
Personal Finance
Pending