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

  1. the envelope method
  2. the pay yourself first method
  3. 50/30/20 method
  4. zero based budget method

Which one is your favourite?

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

  • viking@infosec.pub
    ·
    1 year ago

    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.

  • Jourei@lemm.ee
    ·
    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.

  • Zuckey78@startrek.website
    ·
    1 year ago

    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