A Vanguard video (https://m.youtube.com/watch?v=1nprZjV_6FM) refers to 4 budgeting methods
- the envelope method
- the pay yourself first method
- 50/30/20 method
- zero based budget method
Which one is your favourite?
Edit: non-text version with a 5th method: https://www.lendingtree.com/student/simple-budget/
I use YNAB which I guess is technically zero based budgeting but we refer to the categories as envelopes. In my mind I’m doing the same thing as when I had cash in envelopes I just don’t have to deal with cash. I group my categories by the 50/30/20.
So I guess 4 with a bit of 1 and 3?
Yeah! +1 for YNAB. Been on it for around 6 months now, can’t imagine not using it anymore.