12/7/2023 0 Comments Free online budget planner![]() ![]() This budget suits over-spenders and meticulous planners and helps clarify your expenses. This means dedicating every dollar of your income to either debts, living expenses or savings goals until you have deliberately used every single dollar. Zero-based budgeting implements strategic goals into the budgeting process by linking every dollar to a specific category and cost. You first decide how much you want to put aside for savings goals, then use the rest for bills and other costs. This method involves prioritising savings over immediate expenses. This is a helpful method for those wanting to pay off debts and grow their savings. Once your ‘envelope’ is empty, you can’t spend any more money on that category for the rest of the month. You can also use separate bank accounts for your different expense categories to keep everything online and cashless. ![]() ![]() Some people find using real cash the most effective way to stay on budget. You then fill envelopes with your spending limits. This involves setting a monthly expense limit for your different spending categories (such as groceries). This budgeting method is well suited for people who need more discipline when it comes to spending but don’t want to track every expense. What’s appealing about this method is that it gives you room to save while also maintaining debt payments and living expenses. This budgeting method is well suited for those getting started with a budget and for those who want to categorise needs over wants. This option sets aside 50% of your monthly income for needs, 30% for wants, and 20% for savings and debts. There isn’t one “right” way to budget, however, there are some popular budgeting methods that most people find useful to keep their financial goals on track. ![]()
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