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What's your best non-traditional piece of budgeting advice? (self.asklemmy)

submitted 2 years ago* (last edited 2 years ago) by pineapplefriedrice to c/asklemmy

11 comments fedilink hide all child comments

Everyone knows the classics. Only use cash (eh). Wait 30 days before making a purchase to see if the impulse wears off. Track your expenses. Save X% of your paycheque. But what are some more interesting ones?

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[–] skybreaker 2 points 2 years ago

Divide your savings up. Having a single lump savings doesn't account for all the things you need to save for. If you have $1000 in general savings and you have to fix a car, it leaves you no money for that birthday coming up that you need to get a gift for, and suddenly you're in the red. Have a separate bucket for car savings and birthday/holiday savings, and you could have a separate bucket for vacation and investments and home repairs. Even a little bit each month builds over time