020: Wake Up and Stop Sucking at Budgeting – with Phylecia Jones

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Money, money, money! Okay, so two weeks back, we spoke with Meriflor Toneatto on simple, practical tips to manifest more money in your work and in your life.

Now, I want to talk about simplifying how you handle the budgeting side of your money, both for your personal finances and for your business.

My guest today is Phylecia Jones, a self-proclaimed Budgetologist and money management expert that’s going to help us wake up and stop SUCKING at budgeting!

In this episode, you will learn:

  • What is the first step to wrangling your personal finances?
  • The J.O.N.E.S. approach to budgeting
  • You’ll also get the wake up call you (might) need to manage your business finances better
  • The importance of giving yourself a salary, no matter what
  • How a budget actually gives you power in making good business decisions
  • The difference between “managing” your budget and “feeding” your budget. (spoiler alert: you MUST do both to thrive!)

Phylecia and I are kindred spirits as we both love to geek out on spreadsheets and numbers. But I promise this episode is anything but boring. She breaks it all down in simple, simple terms for us to take action on it all, immediately!

So if talking about your money situation is SCARY, this episode was made just for you, friend.

My challenge for you this week:

Take some time to look at your figures. What action, can you take—TODAY—to move in the right direction? Share it with me, privately or publicly, by snapping a photo of you doing the thing and tag @thesimplifiers on Instagram for added accountability and support!

Links, books and apps mentioned:

Book: The One Thing: The Surprisingly Simple Truth Behind Extraordinary Results – Gary Keller

Book: The 5 Second Rule: The Surprisingly Simple Way to Live, Love, and Speak with Courage – Mel Robbins

App: Quickbooks – Accounting Software for Small Businesses & Self-Employed

App: Xero – Beautiful Business and Accounting Software

App: Mint – Money Manager, Bills, Credit Score & Budgeting

Favorite quotes from this episode:

[11:46] “If you’re going to be successful with money, if you’re going to be great, if you’re going to reach financial freedom, financial independence, whatever you want to call it, you got to get out of your comfort zone and pay attention to the finances.” – Phylecia

[18:26] “I think what stops us is fear.” – Mary

[20:47] “Do you want financial freedom? Are you trying to pay off debt? Are you trying to build wealth? And if you’re not really looking at the future of what’s going on, you’ll always be going two steps back. And so you have to really see what you’re doing. Actually, look at your vision… why are you doing this?” – Phylecia

[21:53] “[The Simplifiers], set one primary goal per quarter for our business, this is our big thing. All [of my] team know, that even though we might have smaller projects we’re working on, we have one primary goal per quarter. The secret is we also attach a revenue goal to that as well, there are numbers attached to it.” – Mary

[32:18] “If you ever find yourself hitting a wall in your business, you might realize that you’re forgetting to address one thing. And a lot of it for many of us; it’s the financial piece.” – Phylecia

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About Phylecia:

Phylecia is the CEO of Keep up with Mrs. Jones LLC, Creator of Budget School, a premier business financial education platform, and Host of the Budget School Podcast. Savvy go-to budgeting nerd, speaker, and trainer.

During a 5-year span of getting rid of $25,000+ in debt, managing to increase her net worth to over $500,000 and leave a 6-figure salaried job to start a business, Phylecia Jones realized that that millionaire status does not happen overnight!

She thrives on changing the world one budget at-a-time and is opening the door for entrepreneurs to have that must needed wake-up call to get serious about managing money and knowing their numbers.

Phylecia’s vote for the perfect guest on The Simplifiers Podcast:

Mark Asquith – Helps businesses accelerate, cut through noise, and take action – one step at a time.

Where Phylecia hangs out online:

Instagram: @keepupwithmrsjones
Website: keepupwithmrsjones.com
Facebook: facebook.com/keepupwithmrsjones/

Video version of the episode

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