Category: Budget
Living Below Your Means
Living below your means is to spend less money than you make. How could it help? Learning to live below your means before retirement is a smart choice to be able to save more. Give yourself more flexibility later in life, learning is not all about now in the same moment it’s not all about…
What is “Loud Budgeting”?
This is one of Tiktok’s latest trends. The goal is to be vocal about good money deicisons. This can be a good tool for some people becoming accountable to how they make budget deicisons. Its okay to say no, about spending money. Knowing your goals and having a budget is a step to get started.…
Zero-Based Budget
The zero-based budget is income minus expenses will equal zero for which ever duration works for you. Weekly or monthly are good options for duration to consistently track a personal budget and be prepared for bills as they occur. Start by gathering all your credit card statements and bank accounts to track expenses. Review multiple…
30% Rule
The 30% rule is keeping housing below 30% of your after-tax income. Understanding what you can afford and giving yourself a budget when looking for somewhere to live is a good place to start. Follow that up with finding places below your top end and find what the best option for you is. Depending on…
50%-30%-20% Rule
The 50%-30%-20% rule is a tool to help one budget their overall financial life by using the after-tax income. 50% should go to needs this include rent or mortgage, groceries, and utilities. 30% should go to your wants, going out to dinner or events, new clothes, Television, ect.. The last 20% should be saved putting…
How to Create a Budget
Creating a budget can be a big task but breaking it down into categories will allow you to take steps to achieve your goals. Writing down everything you pay for, categorize those into something that makes sense to you. Categories for your budget could be income, bills, entertainment, saving goals. Write down all the categories…
