Personal Finance

3799 readers

1 users here now

Learn about budgeting, saving, getting out of debt, credit, investing, and retirement planning. Join our community, read the PF Wiki, and get on top of your finances!

Note: This community is not region centric, so if you are posting anything specific to a certain region, kindly specify that in the title (something like [USA], [EU], [AUS] etc.)

founded 1 year ago

MODERATORS

[email protected]

What is your favourite budgeting method? (discuss.tchncs.de)

submitted 1 year ago* (last edited 1 year ago) by [email protected] to c/[email protected]

19 comments fedilink hide all child comments

A Vanguard video (https://m.youtube.com/watch?v=1nprZjV_6FM) refers to 4 budgeting methods

the envelope method
the pay yourself first method
50/30/20 method
zero based budget method

Which one is your favourite?

Edit: non-text version with a 5th method: https://www.lendingtree.com/student/simple-budget/

you are viewing a single comment's thread
view the rest of the comments

[–] [email protected] 3 points 1 year ago

I have some kind of hybrid between no budget and pay yourself first.

I have timed the biggest bills to land just after my monthly payday, I also do my savings at that time. Whatever is left on my account is free to use. I do have a buffer account, in case the month gets too tight.