There are as many budget methods as there are people. My hope is that I can help recommend ideas so that you will find the method that works for you.  To that goal, I thought I’d share a peak into my budget as an example.  

I have four basic “spending” categories: mortgage, utilities, food and fuel.  The rest of my categories are “saving” categories.  This has shifted my perspective from how much I spend to how much I save.  Here’s a few of the things I save for:   

• Auto insurance- paid once a year 
• Home and car repair – it’s going to happen, might as well be prepared 
• Gifts  
• Clothes 
• Any remaining funds go into my emergency fund    

Expect for the emergency fund, these aren’t long terms savings accounts.  I will use funds from these accounts as needed and I use them as very fluid accounts.  There are some additional benefits to multiple savings accounts: they help me “hide” money from myself (I don’t spend what I don’t see); and, because I’ve automated these savings, my accounts grow without me having to “find” money to save, especially when things get tight.  

The Money Management App has a savings goal feature where you can set and track three saving goals.  Additionally, you can create numerous sub-savings accounts within your savings account at Great Basin.  You can save for anything you want; your categories won’t necessarily be the same as mine.  Automate the savings to make it easy on yourself.  You’ll be surprised at how things can grow.  

Be sure to look out for a short video that explains the savings feature in more depth as well as tips throughout the month.  And, of course, if you want more hands-on help, give me a call. I’m happy to help.