You’ve probably heard about budgets since you were a kid, but something that’s not always spoken about is just how many budgeting techniques there actually are out there. From 'bucketing' to the ‘50-20-30’ method, there’s a whole host of different ways that a person can manage their personal finances.
Even if you’ve never been particularly great at saving or setting yourself limits, that doesn’t mean that a budget can’t help you. It’s all about laying out the nitty-gritty so you can keep an eye on the bigger picture to set yourself up for the future.
Since we all have different incomes, expenses, lifestyles and needs, it can be hard to pinpoint just what kind of budget is right for you — it’s really not a one-size-fits-all kind of situation. But what’s worth waxing lyrical about is the importance of staying on top of the comings and goings of your funds.
To nudge you in the right direction, we’ve broken down five of the most popular budgeting methods to try on for size.