You’ve probably heard how giving not only benefits the recipients but the giver. However, what do you do when you’re in debt? Learn how you can pay off debt and give more to the causes that matter most to you! Giving While in Debt? When people ask this, two things jump out at me. First, […]
Looking for an easy way to budget and have more control over your money? Today we explore zero based budgets with EveryDollar and review 50/20/30 budgets to see either work for your family.
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I mentioned last show that this episode is about budgets for people who hate budgets.
Okay, hate may be a strong word, but I’ve heard from others that making and keeping a budget is difficult and frustrating.
- See if 50/20/30 budgets are really as easy and effective as they see
- talk with Chris from EveryDollar about how zero based budgets can give you more control over your money
- I’ll share apps and sites that help you boost up your finances.
Using 50/20/30 Budget for Easy Budgets
Basically with 50/20/30 budgets, your net income is divided into three buckets:
- 50% of your money goes towards essentials like rent, food, and necessary bills
- 20% is directed at financial goals like paying off debt or investing for retirement
- 30% goes toward lifestyle choices such as vacations
Besides the simple three options, this budget does make sure you have at least 20% of your money going towards your financial goals so it may be a good fit if you’re new to budgeting.
EveryDollar and Zero Based Budgets to Maximize Our Money
Helpful Budget Resources
If you want to find more ways to manage your money, here are some sites and apps to check out!