A Mental Model for Budgeting

Kevin Smith on how to create a simple, effective budget.
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In this episode, I speak with Kevin Smith, a managing partner at Austin Wealth Management, a personal financial planning company. We discuss what he has found after ten years of giving financial advice to be the most effective mental model for budgeting. If you’re looking for some simple, effective strategies for saving a little more for a rainy day, retirement, or taking some future risk, this episode is for you.

“After coming up on ten years of helping people with this, I’ve taken all of these case studies and this information and tried to distill the most practical and effective model to manage a budget, which is simple, intuitive and has easy points of measurement where you can observe how it’s going.”


Mental Accounting

Fungibility of Money


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Audio production by James Ede at Be Heard