What system or method do you use for your monthly budget or personal finance? (lemmy.world)

submitted 11 months ago by return2ozma@lemmy.world to c/asklemmy@lemmy.world

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What budgeting advice do you recommend? Money management method?

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[-] sbv@sh.itjust.works 2 points 11 months ago

I've heard this called the jar method.

I have accounts for travel, house expenses, utility bills, groceries, car expenses, and fun money. Each of them gets part of my paycheck. Every couple of months I take a look to see if things are getting out of whack.

The best part is that I can be an idiot and overspend with the fun money account. If I spend it all, there's absolutely no repercussions, since everything important is already safely in different accounts.

Also, when car expenses (or vacations) roll around, I already have money put aside for it.

this post was submitted on 16 Dec 2023

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