this post was submitted on 20 Aug 2023
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What is your favourite budgeting method? (discuss.tchncs.de)
submitted 1 year ago* (last edited 1 year ago) by [email protected] to c/[email protected]
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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/

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[–] [email protected] 2 points 1 year ago

I've never had a budget. I've worked and studied hard and lived far, far below my means which allowed me to get a bit ahead 20 years ago when it was more possible and a choice. I see people doing some of the things now I did and it's not as effective because of corporate price gouging.

I like saving money and loathe accumulating stuff I know is only a fleeting want. I enjoy buying quality things if they are lasting and fit into what I want my life to be. I enjoy things where I don't have to repeatedly spend money to enjoy them. Some sports work for this, some don't. Outdoor activities can be very cheap or free if you aren't convinced you need something with a motor to make it fun. Libraries are a blessing.

Because of the above, I've never had a budget. At times I've worried that I don't when so many people talk about them so much but I've slowly come to trust myself to not need a budget with the realization a budget just helps others achieve what I'm lucky enough to have, organization and self control.