Budget! I following the Dave Ramsey method and I feel it isn’t helping! Is there anyone else that you follow that’s good for budgeting thanks
Budget! I following the Dave Ramsey method and I feel it isn’t helping! Is there anyone else that you follow that’s good for budgeting thanks
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6 Replies
I make my own. I have 3 bank accounts. 1 for saving, 1 for bills and shopping and 1 for my own fun money.
For my budget i get $300 a month to spend on myself. $800 in savings and $2000 for rent and bills. It works
I roughly use the Bare foot investor method. I like that it’s pretty set and forget. I have a bills account, a savings/emergency account and a play money account.
All budgeted amounts are allocated by auto pays on pay day.
Barefoot investor is great in theory, I personally can’t do it yet as there’s just not enough income.
Otherwise: prioritise. Needs first, then wants. Be realistic.
I have a bloody fantastic budget, on an excel spreadsheet.
Sticking to it though, is a whole different story.......
We do barefoot investor loosely. The thing I like about it is it allows you spending money for yourself as well savings
Mine is a two-fold budget.
First I put together an Excel with our bills worked out annually, quarterly, monthly, fortnightly and weekly. All in easy to follow columns.
I made a separate list for DD bills so that I can ensure on banking day that enough money is left in the account to cover this.
Then I created sub-accounts off my main account for the bills not direct debited, and gave them nicknames. Things like house (rates, water, insurance), savings, car bills (rego, insurance, services), vet (exotic pet vets are pricey), utilities (power, gas) etc.
By breaking them down to fortnightly payments and transferring that amount to that account I know when the big bills come that the funds are there. By separating them I know what money is sitting where for what bill.
If we're a bit light on due to an unexpected expense we skip or minimise the savings deposit.