How to Budget (Without a Budget)

How to Budget Without a Budget

( – Have you tried budgeting in the past, but you end up totally off track? It can be frustrating, but there is a solution.

YouTuber Stefanie O’Connell gives a great example of a bare-bones budget here:

Here are some ways you can stay on track with your finances without having to implement a full-scale budget:

  • Create a bare-bones budget. As Stefanie explains, you need to come up with a make-or-break number. This is the monthly cost of your necessities and bills out the door, and it’s the number you truly need to stick to. Nothing too technical.
  • Generate a buffer. Life is about the unexpected, so plan for it! Give yourself a 10% buffer for these emergency expenses. Add this number to your budget for the total amount you need to set aside.
  • Target monthly financial goals. This amount is what you want to put into savings. Use it to pay down debt or set aside for a vacation. This amount may fluctuate, but be sure to recognize that it’s separate from other expenses.

You don’t have to get technical with your budget. Just create a simple, no-frills version that’s easy to follow. If you stick to it, you’re likely to love the results, and your financial future will look brighter than ever before!

~Here’s to Your Success!

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