Flight Path

10 Budgeting Methods To Help You Take Control of Your Money

To get you started, we’ve put together a list of 10 budgeting methods to help you take control of your money, along with who might find success with each.

10 Budgeting Methods To Help You Take Control of Your Money

The traditional budget allows you to know exactly what you’re spending and where and to track your spending in each category throughout the month.

Traditional Budgeting

With zero-based budgeting, the goal is to allocate every dollar you make so that your balance at the end of the month is zero.

Zero-based Budgeting

This method simplifies budgeting by providing a rule for how much of your income you should allocate to just three categories: needs, wants, and savings/debt.

50-30-20 Budgeting

This method is just like 50-30-20 but even more straightforward. With 80-20 budgeting, you allocate 20% of your income toward savings and the other 80% to everything else.

80-20 Budgeting

This method can be especially helpful for staying within spending categories such as groceries, eating out, or entertainment. It presents a physical and concrete representation of your money.

Cash Envelopes

Swipe Up  to Read More!