Emergency funds, frugal experiments, free photons, and “thoughtful spending” were just a few things that came to light during Carl and Mindy Jensen’s January 2022 budget recap. If you didn’t know already, Mindy has been publicly tracking her expenses and budgeting for BiggerPockets Money listeners (and the world) to see. But of course, as soon as Mindy shared her public budget, things started to go awry.

Nothing says “let’s start the month off right” like car repairs, furnace replacements, and sky-high gas prices. But, Mindy isn’t a quitter! Even with some big emergency expenses, she and Carl have managed to stay within budget for most of their costly categories in spite of life’s fun financial curveballs.

Carl and Mindy discuss their January “frugal experiment” including hotels and air fryers, how “dry January” became “moist January”, and why this financial powerhouse has opted out of the traditional emergency fund. If you’re starting this year with a few budget busters like Carl and Mindy, don’t let it keep you from hitting your overall 2022 spending goals. Track it, stick with it, and shoot for FI!

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Join the BiggerPockets Money Facebook Group:
https://www.facebook.com/groups/bpmoney
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Follow Along with Mindy’s Budgeting and Expense Tracking:
https://biggerpockets.com/mindysbudget?utm_source=youtube&utm_medium=description&utm_campaign=none
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Mindy Tracks Last Month’s Budgeting Wins, Errors, and Extra Expenses:
https://www.biggerpockets.com/blog/budget-wins-errors-extra-expenses?utm_source=youtube&utm_medium=description&utm_campaign=none
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Check Out Our Interview with Ramit Sethi:
https://www.biggerpockets.com/blog/biggerpockets-money-podcast-243-ramit-sethi?utm_source=youtube&utm_medium=description&utm_campaign=none
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Have an Idea For Mindy’s February Frugal Experiment:
Email Mindy at: Mindy@biggerpockets.com
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Make Your Own Free Mobile Expense Tracking App in 30 Minutes:
https://wafflesonwednesday.com/make-your-own-mobile-expense-tracking-app-in-30-minutes/
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Hear More from Carl:
The “Mile High FI” Podcast: https://milehighfi.com/
1,500 Days to Freedom: https://www.1500days.com/
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Want to Be a Guest on the BiggerPockets Money Show? Apply Here:
Guests: https://www.biggerpockets.com/guest?utm_source=youtube&utm_medium=description&utm_campaign=none
Finance Friday: https://www.biggerpockets.com/financereview?utm_source=youtube&utm_medium=description&utm_campaign=none
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Connect with Carl and Mindy on BiggerPockets:
Carl: https://www.biggerpockets.com/users/carljensen?utm_source=youtube&utm_medium=description&utm_campaign=none
Mindy: https://www.biggerpockets.com/users/mindyjensen?utm_source=youtube&utm_medium=description&utm_campaign=none


Episode 276

Show notes at: https://www.biggerpockets.com/moneyshow276?utm_source=youtube&utm_medium=description&utm_campaign=none

0:00 Intro
2:03 The Joys of Budgeting and Expense Tracking
5:03 Using Your Money More Efficiently
8:21 Budgeting Challenges
15:50 Budgeting Wins!
20:32 January’s “Frugal Experiment”
24:27 February Budget Goals
30:55 Do You Need an Emergency Fund?
36:08 Accounting for Future Expenses
39:30 Summarizing Jan. 2022 Spending