this post was submitted on 20 Aug 2023
24 points (96.2% liked)

Personal Finance

3809 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
WandererLagomorph799@lemmy.ml
nieceandtows@programming.dev
nieceandtows@lemmy.ml
24
What is your favourite budgeting method? (discuss.tchncs.de)
submitted 1 year ago* (last edited 1 year ago) by Blaze@discuss.tchncs.de to c/personalfinance@lemmy.ml
19 comments fedilink hide all child comments
 

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/

you are viewing a single comment's thread
view the rest of the comments
[–] Jourei@lemm.ee 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.