10 Budgeting Methods to Help You Take Control of Your Money


While a recent Debt.com survey found that 93% of American’s believe everyone should budget, only about 67% actually do. Furthermore, of those who don’t budget 39% said it was because they don’t make enough money and another 22% said it was because budgeting is too time-consuming.

Budgeting Methods

If you are one of the roughly 70% of American’s who are struggling financially, you need a budget. The good news is that not all budgeting methods are created equally. It’s called personal finance. To get you started, we’ve put together a list of 10 budgeting methods to help you take control of your money.

1. Budget Calendar

Making a budget calendar does the exact same thing for your finances, making them easier to manage by helping you keep track of incoming money, payment amounts, and dates. Budget calendars will be useful for those who are visual and like to see the big picture. 

2. Pay Yourself First/Reverse Budgeting

Pay yourself first budgeting, also known as reverse budgeting, prioritizes savings goals instead. That’s not to say that necessary expenses are ignored, but rather that money is put toward savings before non-essential spending.

3. Priority-Based Budgeting

Priority-based budgeting is very similar to the pay yourself first budget, except in this case what you’re saving/spending for is based on what matters most to you and can change over time. Priority-based budgeting is great for those who lack direction with their finances or who spend a lot on non-essentials.

4. App Budgeting

If you’re not excited about tracking your spending, using a budgeting app might be a great way to help you take control of your money. Many of these apps also offer financial education and tips for improving your finances.

5. Loose Budgeting

Loose budgeting is when you know the ballpark numbers for your essential expenses, savings, and non-essential spending, but you don’t track exact numbers. Those who are naturally frugal and dedicated to saving will likely be most successful using loose budgeting.

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