BUDGET WITH ME

@jocelynbesara

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Why it worked

The video provides a transparent and detailed look into personal finance management, specifically budgeting. The creator's relatable situation (receiving a paycheck and planning expenses) and clear presentation of numbers likely resonated with viewers interested in financial literacy and personal finance.

Summary

The creator walks through their monthly budgeting process after receiving a large paycheck. They review their checking account balance, list upcoming expenses like HOA fees, car insurance, and car payments, and allocate funds towards investments and credit card payments. The video concludes with the final remaining balance which will be allocated to savings or investments.

Structure

1Introduction and paycheck announcement
2Checking account balance update
3Reviewing expenses for the second half of the month
4Allocating funds to investments (Roth IRA, 401k)
5Paying off credit cards
6Final balance and allocation decision

Product placement

The creator uses a spreadsheet on their computer to track their budget and expenses. Specific line items like HOA, car insurance, car payment, Roth IRA, 401K, and credit cards are shown.

On-screen text

BUDGET WITH ME 26 y/o | $110k salary | saving $30k CHECKING BALANCE $2,177.99 PAYCHECK $4,778.30 CHECKING BALANCE $6,656.29 HOA $75 car insurance $110.47 car payment $412.79 ROTH IRA $400 401K $1,100 credit cards $1,500 final balance $3,058.03

Original caption

#Budgeting #budgetwithme #financialliteracy #debtfree #finance

More from @jocelynbesara

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Transcript

I just got a huge paycheck. So let's budget this money together. As a 26-year-old working towards financial independence. I just got paid for the last three weeks, so my paycheck is abnormally large this time. So in my checking account, I had a balance originally of $2,177.99. And I got paid $4,778.30. So my new checking balance is $6,656.29. The first thing I'm gonna do since this is my second half of the month paycheck, I'm gonna check all of my expenses for the second half of the month. My favorite tab in my budgeting spreadsheet is my auto-pay tab, which will tell me exactly when things get taken out. So looking at all my payments, I need to make after the 15th, I have my HOA, $75, my car insurance, $110.47, and my car payment, $412.79. I also will be depositing money into my investments, so my Roth IRA is going to be $400, and my 401k contribution is $1,100. I also have two different credit cards that I need to pay off this month, so I'm going to pay $1,500 towards those. Which leaves me with a balance of $3,058.03, which I will probably be putting into my savings or my investments depending on how much.