6 Budgeting Methods That Will Save You Money

Have you ever had a problem with money? Of course, you have, who hasn't?

Money is one of the top 3 things that people worry about daily. The other two are health and relationships. There are a lot of people struggling to make ends meet. In the US, 40% of people can't come up with $400 in an emergency. That's a scary statistic and it's only getting worse.



And it is a vicious cycle because your health and relationships can suffer when you do not have enough money. Also, it can be hard to find a job when you're in debt or have bad credit.

So what can you do to break the cycle?

One of the best things you can do is learn how to budget better.

But not just any old budget.

You need a budget that is right for YOU and YOUR situation.

There is no one-size-fits-all when it comes to budgeting, but there are a lot of ways to save money, but not all of them are created equal. Some methods are more effective than others, and some are just downright wrong. And it can be hard to figure out which is which.

So if you are looking for ways to save money, here are fifteen budgeting methods that will save you money:

1. The 50/30/20 rule

This rule is a simple way to budget and it works like this: 50% of your income goes towards essential expenses, 30% goes towards wants, and 20% goes towards savings or debt repayment. This can be a great starting point for those who are new to budgeting because it is easy to remember and easy to follow.

2. The envelope system

The envelope system is a cash-based system where you put your money for specific expenses into envelopes labeled with the expense. For example, you would have an envelope for groceries, one for gas, one for entertainment, etc. This system works well for people who have a hard time sticking to a budget because it is very visual and it forces you to think about your spending.

3. The zero-based budget

A zero-based budget is where your income minus your expenses equals zero. This means that every dollar has a job and there is no money left over at the end of the month. This can be a great way to get your spending under control because it forces you to be mindful of every penny you are spending.

4. The cash budget

A cash budget is similar to the envelope system in that you only use cash for your expenses. This can be a great way to stick to your budget because it is hard to overspend when you only have a certain amount of cash. Also, using cash is a great way to be more mindful of your spending because you can see exactly how much money you are spending.

5. The debt snowball method

The debt snowball method is a system for paying off debt. You start by paying off the debt with the smallest balance first and then work your way up to the largest one. This method works well because it gives you a quick win and builds momentum to help you pay off your debt.

6. The debt avalanche method

The debt avalanche method is similar to the debt snowball method, but instead of starting with the smallest balance, you start with the debt with the highest interest rate. This method saves you money in the long run because you are paying off the debt with the highest interest rate first, but it can take longer to pay off your debt. Also, this method requires more discipline because you are not seeing the results as quickly.

No matter which method you choose, it is important to find a system that works for you and that you stick to it. And if you need help, there are plenty of resources available to help you get started.

Budgeting is not easy, but it is worth it. It can be the difference between being in control of your finances and being a slave to your debt. So find a method that works for you and start saving money today!

Thank you for taking the time to read my blog! I hope you find this information valuable and make time to implement it in your life. If you enjoyed this, please check back and share it with others.

If you are tired of feeling stuck, burnt out, or as though you have plateaued and are looking to take the next step towards becoming the most elite version of yourself, I invite you to check out my services. We can work on identifying and creating a system and process to help you turn your life and business into a well-oiled machine!

If you have any questions or want to learn more about working one-on-one with me, CLICK HERE!

Crush The Day Before It Crushes You!