Create more, spend less, and waste nothing.
Spending Challenges, Budget Challenges or No-spend Challenges. You see them all over the internet and on finance, budget, or frugal living content. I’m not into them. I 1000% beleive in having a busget and sticking to it, but the restrictive challenges are a no-go for me. I can see them having a place if you […]
Don’t panic, just make a plan.
We went from being aggressive savers for big goals like our first home, to those who save to protect our finances. That might reflect in what moves we were able to make, but I hope this is is just a source of inspiration for whatever boat you may find yourself in.
One of the hardest and most confusing parts about budgeting is really not knowing what your budget SHOULD look like. Truth is that there are no hard and fast rules because, ultimately, your budget is what you want it to be (for better or worse.) That being said, there are some guidelines to help you get started if you are on the path to a balanced budget.
Unfortunately, your paycheck doesn’t just get bigger when you have a big expense due. You have to make the plan (aka the budget) to prepare for those months when your expenses might be bigger than your income. Sinking funds are a way to strategically put aside money in your budget for larger expected and unexpected costs.
This budget style finally gave my money a job to do and I know what it will be doing for years to come.