Money Talks: Budgets

We used as our guide for today's show: How to Choose the Right Budget System from Nerd Wallet https://www.nerdwallet.com/blog/finance/how-to-build-a-budget/

Examples of 4 types of budgets systems are THE 50/30/20 BUDGET, THE ENVELOPE SYSTEM, PAY YOURSELF FIRST, and  THE ZERO-BASED BUDGET

·      Automate your savings as much as possible so the money you’ve allocated for a specific purpose gets there with minimal effort on your part. An accountability partner or online support group can help, so that you’re held accountable for choices that blow the budget.

·      Revisit your budget as needed. Your income, expenses and priorities will change over time. Adjust your budget accordingly, but always have one.

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