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4 Classic Budgeting Strategies That Still Work Today


One of the first pieces of personal finance advice most people learn is that they need a budget. The idea behind this advice is straightforward: You need to know where your money is going, and a budget can help you do that. However, there are many different methods of budgeting, some of which work well for some people and don’t work at all for others.

In recent years, there has been an explosion of digital tools to help you organize a budget. Programs such as Mint and You Need a Budget pledge to help you get your money organized with just a few taps on your smartphone. But while they might provide interesting views of your financial state, they don’t always help you get a grip on your spending and understand where all of your money goes.

There are many classic budgeting strategies that offer different approaches beyond what those smartphone budgeting apps do. Here are four popular classic budgeting strategies that still work today.

4 Classic Budgeting Strategies That Still Work Today

  • The zero-balance or traditional budget.
  • The envelope budget.
  • The pay-yourself-first budget.
  • The 50/30/20 or rule-of-thumb budget.

Sarah Goldberg
Sarah Goldberg

Sarah is a seasoned financial market expert with a decade of experience. She's known for her analytical skills, attention to detail, and ability to communicate complex financial concepts. She holds a Bachelor's degree in Finance, is a licensed financial advisor, and enjoys reading and traveling in her free time.

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