How to Choose the Right Budget System

How to Choose the Right Budget System

Your present financial state and goals can give you a clue. Once you know where you stand and what you hope to accomplish, pick an option that matches those needs. If you don’t know which route to take, do a financial self-assessment to find the one that best fits your needs.

The 50/30/20 budget

It splits your income across three major categories: 50% goes to necessities, 30% to wants and 20% to savings and debt repayment.

Compare manual and digital budgeting options

Determine whether you want to take a DIY approach to budgeting or seek technological assistance

Still not sure which budget system is best for you?

There’s no need to follow a specific budgeting system as long as you’re aware of important details

How much you have for:

Necessities

Decide how much effort you’re willing to devote

How often should you budget?

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