I stopped over spending with this budgeting method [beginners]💰

💰 Welcome to a new video on the different types of budgeting methods!
Budgeting is essential to managing your finances, whether you are an individual or a business. Several types of budgeting methods are available, each with its benefits and drawbacks. This video will explore some of the most popular budgeting methods and explain how they work.

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· Ana Luisa: BUDGETMILLENNIAL20

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Angie xx

[frantix_]

I started using the zero-based budget recently. That's my go-to style and it had helped tremendously. I didn't even know about sinking funds until recently so I had to update it, and not even a two months later I needed a procedure done for myself with a $130 out of pocket fee for it that I wouldn't have known where to grab it from! But because of that that medical sinking fund that I had set up I was able to cover it! Your videos have been a big help!

[vegemitegirl]

I use a combination a weekly direct debits and the envelope system. ES is not as strict or harsh as you think. With what is not spent, we'll use your example of $200/week for groceries, I rollover the unused amount until I hit a predetermined maximum and then stop adding to it. I have been using this system for over 25 years. I've never been an over spender or deep in debt, I just like the control it offers for our individual situation.

[marysiachamp]

I have also tried so many different budgeting methods over the years and nothing has stuck well with for my husband and I. But I started doing the zero based budget a few months ago with a spread sheet and it has made such a world of a difference. I find it so helpful to in put every purchase and expense and we are finally saving money too which is the whole point! I really enjoy listening to your perspective about budgeting!

[amandawilliams]

Great video Angie, I love the zero based budget for awhile now and love it, I had to put away money into our savings account as I am now on maternity leave for the next 12 months and needed enough to cover essential costsĺ

[bels]

We use the zero based budget method too and have electronic sinking funds.
For some reason though, I love watching cash envelope videos on Youtube…haha.

[ThaUnit]

I prefer having a budget with various sinking funds and having that done digitally. Cash envelopes don't work in Australia because like you said, card payment is preferred.

I also like setting up direct debit payments for bills and I'll generally add on extra. By the end of the year you'll find that the extra money you have paid will end up being enough to pay that bill.

One thing that helped me stop overspending is to have a sinking Entertainment fund. Money that you can on whatever. I found that stopped me from making silly purchases.


Also, schools need to make this compulsory for kids to learn. It wasn't until I had a mountain of debt that I educated myself about personal finance.

[smitty]

I do the reverse psychology method, I have a yearly savings goal, which then gets divided by 26 because I am paid fortnightly and then my usual expenses come out during that fortnight then whatever is left over, if any, I put towards car servicing and disposal income

[mzbec]

I do cash envelopes but I do part cash and part digital and have a few different savings accounts for certain things. It works really well. I absolutely will not support any companies that don't allow cash tho...

[Sam-pnkc]

Up bank auto covers are in testing not long to go now