Flat Tires, Slime, and Budgets: How Money is a Tool

09/08/2025 12:13 PM - By Ian Powell

The Backstory: My Zero-Turn Adventure

A few months ago my wife and I scored a great deal on a zero-turn mower — 40% off at Walmart. Is it a high-end commercial mower with a suspension that saves my back after mowing a field? Nope. It’s a residential model. Which means my back is sore until I can afford a tractor with a box blade.

Still, it’s a tool. Tools help us get work done. But because it’s man-made, it needs maintenance if I want it to last.

And since I’ve been reclaiming a field that’s been left wild for a decade, maintenance came fast. Within my first three mows, I had four flat tires. Thorns. Rusty stakes. You name it. I finally loaded all the tires with slime (the sealant, not the toy my kids used to play with). Three weeks later they’re holding air — mostly.

I also installed an hour meter, because the factory skipped it to save a few bucks. That hour meter tells me when it’s time for an oil change and keeps my mower in shape. Without it, I’d just be guessing.

And here’s where the lesson comes in.

The Lesson: Money Is a Tool, Too

Just like my zero-turn mower, money is a tool.

And just like an hour meter helps me maintain my mower, a budget helps me maintain my money.

Without a budget, you’re just guessing. And life’s too short to guess when it comes to money.

Four Ways to Build a Budget (Pick What Works for You)

Not every budget has to look the same. The only one that matters is the one you understand and can stick with. Here are four ways to get started — three of them free.

1. The Bank Account Plan (10/10/80)

At minimum, set up separate bank accounts to structure your goals. Here’s how it works:

Income Account – All your money lands here.
Spending Account – Everyday purchases.
Bills Account (optional) – Some people prefer a dedicated account to ensure rent, mortgage, and utilities are always covered.
Savings Account – Your emergency fund.

Then follow the 10/10/80 rule:

10% Give (first fruits, put others first).
10% Save (pay your future self).
80% Spend (if you’re spending more than this, life will always feel tight).

2. Pen and Paper

The old-school method still works. Write down:

Your income sources

Your essentials (housing, food, utilities, transportation, clothing)
Everything else

👉 [Download the free budget PDF – LINK PLACEHOLDER]

👉 [Check out the full Budget Kit (12 months) – LINK PLACEHOLDER]

👉 [Grab a free Debt Tracker – LINK PLACEHOLDER]

Simple. Clear. Visual.

3. Excel (Pen and Paper, Automated)

Excel is really just pen and paper with formulas doing the math for you. If you like seeing numbers add up automatically, start here.

👉 [Download the Excel Budget Template – LINK PLACEHOLDER]

4. Monarch Money (For the App Lovers)

This is my favorite budgeting app. Why?

Your spouse can have their own login.

It doesn’t sell your information (looking at you, Mint).
You can invite your advisor or coach to walk alongside you.
It’s cheap. I see it as low as $4/month.

👉 Sign up for Monarch Money here.

Where I Come In

If you want some help building a budget — or you’ve tried everything before and nothing stuck — you don’t have to go it alone. Through The Collective and The Collective Plus, you get:

Access to me as your advisor/coach

Monthly live workshops (90 minutes, with replays available)
A real community with guided conversations (and monitored chat so the bad info doesn’t spread)
Free 529 management
Paper newsletters delivered to your home (because real paper still matters)
And more

👉 Learn more about The Collective!