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 must log in or register to comment.
I believe I’m doing the zero-based budget method. It is a chore, and certainly not for everyone, but I like to keep track of every single expense.
Zero based budgeting for me, though I only discovered the method I came up with myself already had an established name.
To me it’s simply the most straightforward approach.
Zero based budget. Envelope method using the Goodbudget app (not really the way it’s meant to) so that my partner and I can see where we are at any given time firming the month for our “cash envelopes”.
We use “cash envelopes” for: Groceries Restaurant Entertainment Cosmetics & Toiletries Pets Gas Dry Cleaning Haircuts Blow Money
“blow money”
happy to see someone properly budgeting for nose candy
That goes under entertainment.
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.
