Unique Budgeting Styles

Video Transcript

Hey, this is Chris with Money Burst, and a couple weeks ago I stumbled across an article called '10 Unusual Budgeting Methods' on a website called moneyunder30.com. There were two methods that caught my eye, and I wanted to share them with you today.

First up is 'no budget budgeting', and it's pretty straightforward. At the start of each month, you go and you pay all of your bills then you set aside any money that you want to save or invest. Then, just feel free to use whatever's left in your bank account. This method works really well if you're paid monthly, but just remember you got to take care of all those bills before you just start spending.

Then we have the 'paycheck method,' which is perfect if you're paid every couple of weeks. So, here's how it works. You set a budget for each period between paychecks, so you're essentially creating two mini budgets roughly every two weeks. Now you might need to go in and shuffle your bill due dates around to spread them evenly just so you can get a little bit of balance, but luckily most companies are really flexible with this. Budgeting in smaller two periods can make staying on budget a whole lot easier than waiting to budget the whole month at once.

Now I want to know, do either of these methods sound like something that you would want to try? You shouldn't be afraid to experiment and test each one of these out for yourself.

Thanks for joining me here on Money Burst.