Today I want to talk to you about the different kinds of budgets there are. Now, if you remember I told you that I listened to Dave Ramsay whenI was first getting out of debt. It wasn’t an easy thing, he has very strong opinions and like he says, he’s an expert on his opinions! So, sometimes it felt overwhelming and stressful when the budget wouldn’t work out the way he said it should!

Now, he is a firm believer that a Zero Balance Budget is the way to go! And it’s from him that I first learnt about Zero balance budgets! However, there are other types of budgets, let’s talk about the 5 most common types! In no specific order. They are:

These are the ones I mostly paid attention to and I tried them all, by themselves then trying to incorporate things from one into the other, anyway, no it didn’t work! Other than creating a messier mess in my finances I wouldn’t recommend you try that.

I was really looking for a magic pill that I could take so that I wouldn’t have to really stick to a budget. You know the kind! Pay yourself first but only after spending first so that you don’t feel restricted and arrive at a zero balance! A mess, didn’t work, if you do decide to try it, tell me how it worked for you, I would really like to know!

Before I start talking to you about the differences in each budget, bear in mind that we had a lot of debt. And we tried to pay all the debt first and then take the leftover money to live on. Except, there was so much debt that we had no money left over to live. So we had to decide on a plan to tackle the debt and still be able to buy groceries and pay rent. So, we didn’t file for bankruptcy but we had to make very tough decisions...

www.moneywhineandcheese.com

https://linktr.ee/Thesparklingbudgeteer