OK, here's the deal. Coronavirus is not going away, and many of you are starting to feel the affects of this on your paycheck and your lifestyle. The markets are down, people are being told to stay at home, and many who don't have sick pay are out of income for a while! Let's talk about how to budget during this pandemic, what money moves to make, and how to weather the storm without … [Read more...] about Emergency Budget: How To Budget During A Pandemic
Types of Budgets
What Is The 50 30 20 Rule? The 50 / 30 / 20 Rule was first coined by Elizabeth Warren and her daughter in her book All Your Worth: The Ultimate Lifetime Money Plan. It's a simple rule to give a general guideline on how to budget your money. Here's a breakdown of how it works: 50% of your income goes toward your "Needs" (Housing, Groceries, Utilities, Transportation, Bills, Insurance, Debt … [Read more...] about The 50/30/20 Rule: Does This Budget Actually Work?
Your financial life is planned around your paychecks, shouldn't your budget be too? The Paycheck Budgeting Method is the EASIEST way to take control of your money when nothing else seems to work. The concept is simple. Write down your next paycheck amountWrite down ALL the bills that are due until the next paycheck arrivesWrite down daily spending until next paycheck arrivesFor Paycheck … [Read more...] about The Paycheck Budgeting Method
I've talked before about those little emergencies that can absolutely kill your monthly budget, causing you to dip into savings or go into further debt to take care of. Things such as broken appliances, car repairs, water leaks and Christmas seem to come out of nowhere to blow up your budget. My solution to this is to create savings buckets for items that you can reasonably expect to pay for at … [Read more...] about Seasonal Budgeting