Budgeting: A budget is a calculation plan, usually but not always financial, for a defined period, often one year or a month.
50-30-20 Rule
The 50-30-20 rule is a simple guideline (not a hard-and-fast rule) for building a budget. The plan allocates 50% of your income to necessities, 30% toward entertainment and “fun,” and 20% toward savings and debt reduction
Tips for Budgeting:
1. Get an accountability partner. Living that budgeting life isn't always easy. ...
2. Review your spending habits (especially on the extras). ...
3. Find ways to save on your bills. ...
4. Check on your insurance policies. ...
5. Get rid of debt. ...
6. Use a budgeting app. ...
7. Don't Wait to Improve Your Budget