In the last episode, we discussed some frequent spending habits we’ve seen, and how we should interpret them. For this episode, we are going to discuss budgeting. Before we start, understand that this is going to be an emotional and hard exercise. Ask yourself, are you really ready to make a lifestyle change if needed? Be realistic about your expectations and numbers: if not, you are going to fail again and again, and create a negative emotion feedback. Dan and Tim discussed delayed gratification, outliers, and the importance of understanding the value of your dollar: both quantitatively and qualitatively. How you feel matters a lot when it comes to budgeting.