Budget Methods
Now what? You've completed the budget form, what's next?
Envelope method--Make an envelope for each budget area. Only spend what's in the envelope.
Zero Based Budgeting--In this method you spend what you take in.
Balanced Budget Method--50% Needs, 20% Wants, 30% savings.
Budget lessons
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"We don't eat out that much." "I'll just put it on the credit card." "Insurance is the least of our worries." |
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"A dollar saved is a dollar earned." "I'm paying my higher interest rate loans first." "We've earned this. Let's enjoy it." |
![[an illustration of the grim reaper, death with a black cloak, red eyes, and scythe]](http://libapps.s3.amazonaws.com/customers/2058/images/death-159120_960_720-pixabay.png)
![[an image of an angel, back to the viewer, with hands making a heart]](http://libapps.s3.amazonaws.com/customers/2058/images/angel-819644_960_720-pixabay.jpg)
Define Your Spending Priorities
- Organize your expensive debts and pay them down/off.
- Build a safety net. Automatically deposit money into your savings account.
- Don't charge.
- Live within your means.