Different Budget Types. There are different strategies when it comes to budgeting. The strategies are designed to help make budgeting easier overall. Every person is different and one strategy may work better for you than another strategy. Reading about the different strategies can help you determine the best budgeting strategy for your personal situation.
The 50ቺተ Rule of Thumb for Budgeting. You've reviewed your spending and created a budget, and now you know exactly how much you spend on your home, your car, discretionary spending, and how much you divert to your retirement accounts. That's all good, but what about your other savings, such as for an emergency? How does your financial allocation compare to the amount you should ideally spend and save?