4 Budgeting Style On Your Hard Earned Money

Do you have your own style in budgeting your hard earned money?

Are You Familiar with these 4 Budgeting Styles?

1. Lastiko Style (Elastic Band Style) - Budgeting your money the old fashioned way. You keep certain amount of money with an elastic band for certain expenses.

Lastiko Style

2. Envelope Style - One of the simplest styles of budgeting. You divide your money into envelopes. You set aside certain amount for every envelopes for expenses like transportation, electricity, groceries, food, etc.

Envelope Style

3. Smoothing Style - "Dumudulas lang ang pera sa kamay." Your pay slip is literally just slip in your hands during payday. Too many expenses that are very short for salaries finding it hard to make a budget.

4. ATM Style - "Basta may pumasok na pera, gastos agad." One day millionaire. Spending money impulsively for a day or few number of days and end up with nothing by the end. Having difficulties in budgeting.

Budgeting can be very hard. Develop a habit of tracking your expenses everyday and make sure your spending stays within the limits you have set. Make a small changes in your budget and see a big difference.

What is your budgeting style? How can you spend wisely? Share with us.