Category: Budgeting - Page 2

Three Essential Traits for Crafting an Effective Budget

Three Essential Traits for Crafting an Effective Budget

Creating a good budget involves understanding key aspects that make it effective and sustainable. This article explores three vital characteristics that define a strong budget: realism, flexibility, and clarity. With practical tips and insights, you'll learn how to implement these traits into your financial plan. Discover how these elements can help you achieve your financial goals with greater confidence. Dive in to start building a solid foundation for your financial future.

Elliot Marlowe 5.12.2024
Mastering Personal Finance with the 70 20 10 Budgeting Rule

Mastering Personal Finance with the 70 20 10 Budgeting Rule

The 70 20 10 rule is a straightforward budgeting approach that helps individuals allocate their income effectively to cover needs, savings, and discretionary spending. By dedicating 70% of earnings to essential expenses, 20% to savings and debt repayment, and 10% to personal enjoyments, this method simplifies financial management. This budget format not only encourages saving but also allows for a balanced lifestyle. Here we delve into how this principle works and how it can be tailored to fit various income levels.

Elliot Marlowe 20.11.2024