How to Budget Your Money: The 5 Best Budgeting Methods Compared

Most people know they should budget. Far fewer people actually do it consistently. The gap between knowing and doing usually comes down to one thing: picking the wrong method for your personality and lifestyle.

A budgeting approach that suits a detail-obsessed accountant will frustrate someone who prefers big-picture thinking. Equally, a method built for cash-only households will not work for someone who pays everything by card. Choosing the right system makes all the difference between giving up after two weeks and building a habit that lasts years.

This guide compares the five most effective budgeting methods in clear, honest detail. Furthermore, it covers the practical tools, common mistakes, and psychological factors that determine whether any budget actually sticks. By the end, you will have everything you need to choose a method, set it up, and start making real progress toward your financial goals.

According to SoFi’s budgeting guide, budgeting is a system that helps you track and manage money better. When done correctly, it optimises both spending and saving over the long term.

Why Most People Struggle With Budgeting

Budgeting has a reputation problem. Many people associate it with restriction, deprivation, and spreadsheets full of numbers. In reality, a good budget is not about limiting your life. It is about giving every dollar a purpose so your money works for you rather than disappearing without explanation.

The most common reason budgets fail is that people choose a method that does not match how they actually think about and use money. Someone who is highly motivated by visual feedback will find zero-based budgeting empowering. That same system would overwhelm someone who simply wants a quick monthly check-in.

Additionally, many people try to implement a perfect budget on day one. Perfection is the enemy of progress here. Starting simple and refining over time consistently outperforms attempting a complex system from scratch. As OneAZ Credit Union notes, the most effective method is the one you can stick to consistently.

Therefore, the first step is not setting up a spreadsheet. It is understanding your own relationship with money, your income pattern, and your primary financial goals. Only then can you choose the method most likely to work for your specific situation.

Step One: Know Your Numbers Before Choosing a Method

Before comparing budgeting systems, you need a clear picture of your current financial situation. This baseline makes everything else more effective. Without it, you are essentially guessing at categories and amounts.

Start by gathering the following information:

•       Your average monthly take-home income after taxes

•       A list of all fixed monthly expenses: rent, mortgage, car payment, insurance premiums, subscriptions

•       An estimate of your variable monthly expenses: groceries, fuel, dining, entertainment, clothing

•       Your total debt balances and minimum monthly payments

•       Your current savings balance and monthly savings amount, if any

Free tools likeMint orYNAB (You Need A Budget) can pull this data automatically by connecting to your bank accounts. Alternatively, Expensinator’s budget tracker offers a simple way to test different methods side by side.

Once you have these numbers, you can realistically assess which budgeting framework fits your income pattern and spending habits. Trying to choose a method without this data is like buying shoes without knowing your size.

Method 1: The 50/30/20 Rule

The 50/30/20 rule is the most widely recommended budgeting framework for beginners. It divides your after-tax income into three broad categories: needs, wants, and savings or debt repayment.

The structure is simple. Fifty per cent of your take-home pay goes toward needs: rent, groceries, utilities, insurance, minimum debt payments, and essential transportation. Thirty per cent covers wants: dining out, entertainment, subscriptions you enjoy, hobbies, and travel. The remaining twenty per cent goes directly to savings, investments, or paying down debt beyond the minimum.

Why the 50/30/20 Rule Works

Its simplicity is its greatest strength. You do not need a spreadsheet with dozens of categories. You simply look at each expense and ask: Is this a need or a want? That binary question is easy to answer quickly and consistently.

According to M&T Bank’s review of budgeting strategies, the 50/30/20 rule works particularly well for people with consistent monthly income and a simple set of fixed expenses. It provides enough structure to guide behaviour without requiring meticulous tracking.

Furthermore, SoFi’s budgeting resource highlights that the 20% goals category is intentionally broad. It can cover an emergency fund, retirement contributions, a house deposit, or aggressive debt payoff, depending on your current priorities.

Limitations of the 50/30/20 Rule

The main limitation is that the percentages do not work for everyone. In high-cost cities like San Francisco, New York, or London, housing alone may consume 40% to 50% of take-home pay, leaving little room for wants or savings within the standard framework.

Additionally, the rule offers limited granularity for people managing complex financial situations, like multiple debts, irregular income, or specific short-term savings goals. In those cases, a more detailed method may produce better results.

Nevertheless, the 50/30/20 rule is an excellent starting point. Many people use it for years and find it provides all the structure they need. Senator Elizabeth Warren popularised it in her book ‘All Your Worth,’ and it has since become a staple recommendation from major financial institutions, including Investopedia.

Who Should Use It

•       People new to budgeting who want a simple starting framework

•       Salaried workers with a predictable monthly income

•       Anyone who finds detailed category tracking time-consuming or demotivating

•       People in moderate-cost areas where 50% for needs is realistic

Method 2: Zero-Based Budgeting

Zero-based budgeting takes a more disciplined approach. The core principle is that every single dollar of income is assigned a specific purpose. By the end of the planning process, your income minus all assigned amounts equals zero. That does not mean you spend everything; it means every dollar has an explicit job, whether that job is covering a bill, building savings, or funding a vacation.

The process begins fresh each month. You start with your projected income, then list every anticipated expense and savings goal until the full income amount is accounted for. As U.S. Bank explains, every dollar you plan to spend has a predetermined use before the month begins.

Why Zero-Based Budgeting Is So Effective

This method leaves no money unaccounted for. Because you must deliberately assign every dollar, you become acutely aware of where your money goes. Expenses that felt automatic, like streaming subscriptions or monthly app fees, suddenly require conscious justification.

Research from YNAB, whose software is built around this method, shows that new users save an average of $600 in the first two months alone. The act of assigning every dollar before spending it fundamentally changes financial behaviour over time.

Additionally, zero-based budgeting is highly adaptable. Because you start from scratch each month, it naturally accommodates irregular income and changing expenses. A freelancer or commission-based employee can base the budget on a conservative income estimate and adjust as actual income arrives.

The Challenges of Zero-Based Budgeting

It requires more time and attention than simpler methods. Planning a zero-based budget each month typically takes 30 to 60 minutes, and it requires regular check-ins throughout the month to stay on track. For some people, this level of involvement feels empowering. For others, it feels like a burden.

Furthermore, the first month is always the hardest. Many people underestimate variable expenses and find their budget out of balance partway through the month. Consequently, it is important to treat the first few months as a learning period rather than a test you can pass or fail.

Tools like YNAB and EveryDollar by Ramsey Solutions are specifically designed for zero-based budgeting. Both offer digital category assignment, real-time tracking, and alerts when a category is close to empty.

Who Should Use Zero-Based Budgeting

•       Detail-oriented people who want full control of every dollar

•       Freelancers, self-employed workers, or anyone with a variable monthly income

•       People working aggressively to pay off debt or build savings quickly

•       Anyone who has tried simpler methods and still finds money ‘disappearing’ each month

Method 3: The Envelope Method (Cash Stuffing)

The envelope method is one of the oldest budgeting techniques, and it remains one of the most effective for people who struggle with overspending. The system is entirely physical and tactile: you withdraw cash at the start of each month and divide it into labelled envelopes corresponding to your spending categories.

Common envelope categories include groceries, fuel, dining out, entertainment, clothing, and personal care. Once a category’s envelope is empty, spending in that category stops until the following month. Leftover cash can either roll over into next month’s envelope or be moved to savings.

The Psychology Behind Why It Works

Numerous studies in behavioural economics confirm that people spend less when using cash than when using cards. The physical act of handing over money creates a psychological ‘pain of paying’ that card transactions simply do not replicate. This tangible awareness of spending makes the envelope method uniquely effective for curbing impulse purchases.

As U.S. Bank notes, seeing the money physically leave your wallet is a powerful deterrent. When that grocery envelope is running thin on the 20th of the month, you instinctively adjust your behaviour in a way that an abstract card balance rarely prompts.

Additionally, OneAZ Credit Union highlights that the physical separation of cash into envelopes serves as a tangible reminder of financial limits and encourages mindful spending. This quality makes it particularly beneficial for people who have repeatedly failed with digital-only approaches.

Drawbacks of the Envelope Method

Carrying large amounts of cash is impractical for many people and creates security concerns. Furthermore, many modern expenses, such as online shopping, subscription services, and utility autopayments, simply cannot be paid in cash. These categories require digital equivalents or a hybrid approach.

Several apps have adapted the envelope concept for digital use. Goodbudget andMvelopes replicate the envelope system using virtual categories that deduct as you spend. This hybrid approach retains the psychological discipline of the original method while accommodating a cashless lifestyle.

Who Should Use the Envelope Method

•       Visual learners who respond to seeing a physical limit

•       People with a history of overspending on discretionary categories

•       Shoppers who make frequent small purchases and lose track of cumulative spending

•       Anyone who wants a hands-on, tactile relationship with their money

Method 4: Pay Yourself First

Pay yourself first inverts the traditional approach to budgeting. Most people pay their bills, cover their expenses, and then save whatever is left over. Unfortunately, in practice, very little is usually left over. The pay-yourself-first method eliminates this problem by moving savings to the top of the priority list, before any other spending occurs.

The moment your paycheck arrives, a fixed amount is transferred directly into savings or investment accounts. Only the remaining balance is available for bills and living expenses. Because the savings move immediately and automatically, the temptation to spend them before the end of the month is removed entirely.

Why Automation Is the Key

The power of this method comes entirely from automation. Manual saving requires willpower and a deliberate decision every single month. Automated saving requires a one-time setup. Once the transfer is scheduled, the process runs without any ongoing effort or willpower.

According to SoFi, keeping savings money out of sight and out of mind dramatically reduces the likelihood of spending it. The money you never see in your spending account is money you never miss or divert to other uses.

Platforms likeAlly Bank, Marcus by Goldman Sachs, andChime offer automatic savings features that can be configured to move a fixed amount on payday. Many employer 401(k) plans use the same principle, directing contributions before the money ever appears in your bank account.

How Much Should You Pay Yourself First

The amount varies by individual circumstances. However, most financial advisors suggest starting with at least 10% to 20% of take-home pay. If that feels too large, start with 5% and increase by 1% every few months. The goal is to build the habit first and optimise the percentage once the behaviour is established.

The Consumer Financial Protection Bureau (CFPB) recommends prioritising employer-matched retirement contributions first, as these represent an immediate 50% to 100% return on your money. After capturing the full match, direct additional automated savings toward an emergency fund and then other goals.

Limitations of Pay Yourself First

This method provides no structure for day-to-day spending. Someone who saves diligently but still overspends on groceries, dining, and entertainment may find that paying yourself first solves the savings problem while leaving the spending problem untouched.

Therefore, many financial advisors recommend combining pay yourself first with either the 50/30/20 rule or basic category tracking. The savings are protected, and the spending has a framework that prevents the remaining money from being used carelessly.

Who Should Use Pay Yourself First

•       People whose primary challenge is saving rather than overspending

•       Anyone who responds well to automation and minimal ongoing effort

•       Workers with employer-sponsored retirement plans that allow automatic contribution increases

•       People who have tried elaborate budgets and found them unsustainable over time

Method 5: Values-Based Budgeting

Values-based budgeting takes a fundamentally different approach from all the other methods. Rather than starting with percentages or categories, it starts with a question: what do you actually care about? Your spending then reflects those priorities directly.

As U.S. Bank describes, if you value travel more than living in an upscale apartment, you might choose a modest rental so you can fund multiple trips per year. Every financial decision becomes an expression of what genuinely matters to you rather than a default response to social pressure or habitual spending.

How Values-Based Budgeting Works in Practice

Begin by writing down your five to ten most important life values. Common examples include family, experiences, health, education, creativity, security, community, and freedom. Next, review your last three months of spending and ask honestly whether each category reflects those values. The mismatches are often surprising.

For example, someone who lists ‘health’ as a core value but spends heavily on fast food and almost nothing on fitness or fresh produce has a values-spending gap. Similarly, someone who values ‘family time’ but pays for expensive status-symbol items that require extra work hours to afford is spending against their own priorities.

Once the gaps are identified, the budget restructures spending to close them. Expenses that do not reflect core values are reduced or eliminated. Money is redirected toward categories that genuinely align with what the person cares about most. This process often produces more motivation and consistency than any numbers-based system because the decisions feel personally meaningful.

Strengths and Limitations

Values-based budgeting is particularly powerful for people who feel financially drained despite having an adequate income. Often, they are simply spending on things that do not genuinely satisfy them. Realigning spending with values removes that sense of financial emptiness.

However, this method works best when combined with basic tracking. Without some numerical guardrails, value alignment alone does not prevent overspending or ensure savings targets are met. Expensinator’s framework suggests that customisable percentage-based budgeting pairs well with values-based thinking, giving you both philosophical alignment and practical structure.

Who Should Use Values-Based Budgeting

•       Big-picture thinkers who struggle with rigid numerical systems

•       People with adequate income who still feel financially dissatisfied

•       Anyone going through a major life transition, such as a career change, divorce, or retirement

•       Those who want spending to reflect personal and social values, including ESG-aligned financial choices

The 5 Budgeting Methods Compared at a Glance

The table below provides a direct side-by-side comparison of all five methods across the most important decision criteria:

Method	Difficulty	Time Required	Best For	Main Weakness
50/30/20 Rule	Easy	Low (monthly review)	Beginners; stable income	Too broad for complex goals
Zero-Based	Moderate-High	High (weekly check-ins)	Detail-oriented; variable income	Time-intensive to maintain
Envelope / Cash Stuffing	Easy-Moderate	Moderate (monthly prep)	Visual learners; overspenders	Impractical for cashless spending
Pay Yourself First	Easy	Very Low (one-time setup)	Savings-focused; automation lovers	No structure for daily spending
Values-Based	Moderate	Moderate (reflective process)	Big-picture thinkers; life changers	Needs numerical support to work

How to Choose the Right Budgeting Method for You

No single method is objectively best. The right choice depends on your personality, income pattern, financial goals, and the specific problems you are trying to solve. Asking yourself a few targeted questions makes the decision much clearer.

Consider the following:

•       Do you want maximum control and detail? Choose zero-based budgeting

•       Are you a beginner looking for simplicity? Start with the 50/30/20 rule

•       Do you struggle to stop spending once you start? Try the envelope method

•       Is saving your primary challenge rather than overspending? Use the pay yourself first

•       Do you feel disconnected from why you are budgeting? Explore values-based budgeting

Additionally, combining methods is entirely valid. Many effective budgeters use the ” pay yourself first ” rule to protect savings and the 50/30/20 rule to govern spending. Others apply zero-based budgeting for most categories but use physical envelopes for the two or three areas where they historically overspend.

As Expensinator recommends, experiment with one method for a month or two, then adjust. Staying consistent and intentional with your money matters more than using any particular system perfectly.

The Best Budgeting Tools and Apps in 2024

A strong budgeting method is more powerful when paired with the right tools. The following apps and resources support each of the five methods discussed above.

For 50/30/20 and General Tracking

Mint automatically categorises transactions and shows spending breakdowns. It is free and integrates with most US bank accounts. PocketGuard connects to all your accounts in real-time and shows exactly how much is safe to spend after bills, goals, and necessities are covered. SoFi’s money tools also include built-in budgeting features alongside savings and investment accounts.

For Zero-Based Budgeting

YNAB (You Need A Budget) is the gold standard for zero-based budgeting. It costs around $14.99 per month but consistently pays for itself many times over in user savings. EveryDollar by Ramsey Solutions offers a free version with manual entry and a paid version with bank syncing. Both are built explicitly around the zero-based framework.

For the Envelope Method

Goodbudget replicates physical envelopes digitally, allowing you to share budgets with a partner and track spending across devices. Mvelopes offers a more comprehensive digital envelope system with bank sync and financial coaching. Both are well-suited for people who want envelope-style discipline without carrying cash.

For Pay Yourself First

Qapital allows rule-based automatic savings, such as rounding up every purchase and saving the difference. Digit uses algorithms to analyse your spending and automatically move small amounts to savings without your intervention. Employer 401(k) payroll deductions are the simplest and most tax-efficient form of pay yourself first.

Free Spreadsheet Templates

Not everyone wants an app. Google Sheets budget templates offer free, customisable budgets that work across devices. TheCFPB’s free budget worksheet andOneAZ Credit Union’s printable budget template are excellent starting points for anyone who prefers to work with paper or a simple spreadsheet.

Building Your Budget Step by Step

Regardless of which method you choose, the setup process follows the same general sequence. Working through these steps systematically produces a functioning first budget within a single sitting.

Step 1: Calculate Your Real Monthly Income

Use take-home pay, not gross income, as your baseline. If your income varies, use a conservative estimate based on your lowest-earning month in the past six months. Building a budget on optimistic income projections almost always leads to shortfalls.

Include all income sources: salary, freelance earnings, rental income, side hustle revenue, and government benefits if applicable. The total becomes your budgeting baseline for the month.

Step 2: List All Fixed Expenses

Fixed expenses are the same every month. They include rent or mortgage, car payments, insurance premiums, loan minimum payments, and any fixed subscription services. List each one with its exact monthly amount. These are non-negotiable and come off the top of your income before anything else is planned.

Step 3: Estimate Variable Expenses

Variable expenses change from month to month. Groceries, fuel, utilities, dining out, clothing, and personal care all fall into this category. Review three months of bank or card statements to get a realistic average for each category. Most people discover they spend significantly more than they think in at least one variable category.

Step 4: Set Savings Goals

Savings should appear as a deliberate line item in your budget, not as whatever is left over. Define your savings priorities: emergency fund first, then retirement contributions, then specific goal accounts for things like a house deposit or car replacement fund. Assign a monthly dollar amount to each.

The FDIC’s Money Smart resources recommend building a three-to-six-month emergency fund as the top savings priority. Without this buffer, any unexpected expense lands back on a credit card and undoes budgeting progress.

Step 5: Reconcile and Adjust

Add up all expenses and savings amounts. If the total exceeds your income, something has to change. Look first at discretionary spending for reductions before cutting essential categories. If your needs genuinely exceed income, the CFPB’s financial coaching resources can help identify options for increasing income or managing debt more effectively.

If your income exceeds total expenses, direct the surplus intentionally. Do not leave money unallocated; assign it a purpose, whether that is accelerating debt payoff, adding to investments, or saving for a specific goal.

The Most Common Budgeting Mistakes and How to Avoid Them

Even well-intentioned budgets fail for predictable reasons. Knowing these pitfalls in advance dramatically improves your chances of long-term success.

Forgetting Irregular Expenses

Annual car insurance, holiday gifts, back-to-school supplies, and quarterly subscription renewals do not appear in monthly bank statements, yet they derail budgets reliably every year. The solution is to add up all annual irregular expenses, divide by 12, and set aside that monthly amount in a dedicated sinking fund.

For example, if your annual car insurance bill is $1,200, set aside $100 each month in a separate savings account. When the bill arrives, the money is already waiting. This approach, described by NerdWallet as sinking fund budgeting, eliminates one of the most common causes of budget-busting surprise expenses.

Setting Unrealistic Categories

New budgeters often underestimate how much they genuinely spend on groceries, dining, and personal care. Setting category limits far below actual spending creates a budget that is technically balanced but practically unusable.

Base your categories on real spending data from the past three months, not on aspirational amounts. Tighten categories gradually over time as new habits form, rather than attempting dramatic cuts from the start.

Neglecting to Review the Budget Monthly

A budget is a living document, not a one-time creation. Monthly reviews allow you to adjust for changing circumstances, catch overspending before it compounds, and celebrate genuine progress. Setting a recurring 30-minute monthly money review date makes this habit easier to maintain.

Tools like Mint send automatic monthly spending summaries. These reports make the review process faster and more informative than manual checking.

Treating Budgeting as Punishment

A budget that feels punitive will not last. Build in a deliberate ‘fun money’ or personal spending category for each person in the household. When discretionary spending has a planned, guilt-free allocation, the urge to overspend elsewhere diminishes significantly.

Furthermore, celebrating milestones keeps motivation high. Paying off a debt, reaching an emergency fund target, or completing three months of consistent budgeting all deserve acknowledgement. Small celebrations reinforce the positive habit you are building.

Budgeting as a Couple or Family

Money is consistently one of the top sources of conflict in relationships. Establishing a shared budgeting approach early reduces tension and aligns financial goals between partners. However, the process requires honest conversation and mutual respect, not just spreadsheet arithmetic.

Begin by having an open conversation about each person’s financial background, values, and goals. People who grew up in households with very different relationships to money often have deeply held beliefs about spending, saving, and security that surface during budgeting discussions. Understanding where each partner comes from makes the practical conversation far more productive.

For couples with separate incomes, decide whether to manage money jointly, separately, or through a hybrid approach. The hybrid method, where each person contributes proportionally to shared expenses and keeps the rest separate, works well for many couples who value both partnership and financial independence.

Regular monthly money meetings, kept to 30 to 45 minutes with a clear agenda, normalise financial discussion and prevent small misalignments from growing into significant conflict. M&T Bank’s budgeting guide suggests treating these meetings as a standing date rather than a crisis response.

Budgeting Benchmarks by Monthly Take-Home Income

The following table shows approximate category allocations under the 50/30/20 rule at different income levels. These are starting estimates, not prescriptions.

Monthly Take-Home	Needs (50%)	Wants (30%)	Savings / Debt (20%)
$2,500	$1,250	$750	$500
$3,500	$1,750	$1,050	$700
$5,000	$2,500	$1,500	$1,000
$7,000	$3,500	$2,100	$1,400
$10,000	$5,000	$3,000	$2,000

How to Stay Consistent With Any Budget

The biggest challenge is not setting up a budget. It is sticking to one through real life: unexpected expenses, social pressures, emotional spending, and months when nothing goes according to plan. Consistency requires systems and mindset adjustments, not just willpower.

Automating as much as possible is the single most effective consistency strategy. Automate savings transfers, retirement contributions, and bill payments. When the important financial moves happen without requiring a decision, your willpower is preserved for genuinely discretionary choices.

Additionally, using a weekly or biweekly check-in, rather than monthly alone, catches overspending early. Reviewing your budget mid-month gives you time to correct course before a single bad week turns into a blown budget. YNAB’s real-time tracking makes these brief check-ins quick and informative.

Finally, give yourself grace when the budget does not go perfectly. A month of overspending is data, not failure. Review what happened, adjust the relevant categories, and continue. Every experienced budgeter has had difficult months. The difference between those who succeed and those who give up is simply that they keep going.

Budgeting as Part of a Broader Financial Plan

A budget is a powerful tool, but it is most effective as part of a broader financial plan. Budgeting alone will not build wealth; it creates the cash flow that makes other financial moves possible.

Once your budget is running smoothly, use it as the foundation for the following steps:

•       Build a three-to-six-month emergency fund in a high-yield savings account

•       Contribute enough to your employer retirement plan to capture the full match

•       Pay off all high-interest debt, starting with the highest APR balance

•       Increase retirement contributions gradually until you reach the annual IRS maximum

•       Open a taxable investment account and begin building long-term wealth

Resources likeInvestopedia’s personal finance hub, The Balance Money, andNerdWallet’s financial guides provide detailed guidance on each of these steps. TheCFPB’s consumer tools offer free, unbiased resources covering everything from debt management to retirement planning.

Budgeting is where every strong financial plan begins. Whether you choose the simplicity of the 50/30/20 rule or the precision of zero-based budgeting, the act of giving your money a plan is one of the highest-return actions you can take for your financial future. Start today, adjust as you learn, and trust the process.

Spend some time for your future. 

To deepen your understanding of today’s evolving financial landscape, we recommend exploring the following articles:

Closing the Wealth Gap: Smart Investing for Women

How to Enjoy Treats and Still Win With Your Money

Purpose-Driven Finance: ESG, Impact and Real Change

Financial Accounting 101: Principles, Methods, and Why They Matter

Explore these articles to get a grasp on the new changes in the financial world.

Disclaimer

This article is for informational and educational purposes only. It does not constitute financial, tax, or legal advice. Individual financial circumstances vary significantly, and no budgeting method described here is guaranteed to produce specific results. Always consult a qualified financial advisor before making significant financial decisions. The author and publisher accept no liability for actions taken based on the information provided in this article.

References

[1] Expensinator. ‘5 Budgeting Methods (Envelope, Zero-Based, 50/30/20, etc.).’ Available: https://expensinator.com/blog/5-budgeting-methods.html

[2] M&T Bank. ‘A Totally Honest Review of 5 Popular Budgeting Strategies.’ Available: https://www.mtb.com/library/article/a-totally-honest-review-of-5-popular-budgeting-strategies

[3] OneAZ Credit Union. ‘Three Types of Budgets: Find the Right Fit for Your Finances.’ Available: https://www.oneazcu.com/about/financial-resources/savings/three-types-of-budgets/

[4] SoFi. ‘Types of Budgeting Strategies and Methods.’ Available: https://www.sofi.com/learn/content/types-of-budgeting-methods/

[5] U.S. Bank. ‘How to Budget 101: 6 Strategies to Try.’ Available: http://www.usbank.com/financialiq/manage-your-household/life-events/graduating-from-college/budgeting-strategies-to-consider.html

[6] Consumer Financial Protection Bureau. ‘Save and Invest Tools.’ Available: https://www.consumerfinance.gov/consumer-tools/save-and-invest/

[7] YNAB. ‘You Need A Budget.’ Available: https://www.youneedabudget.com

[8] NerdWallet. ‘Sinking Fund: How and Why to Use One.’ Available: https://www.nerdwallet.com/article/finance/sinking-fund

[9] Investopedia. ‘What Is the 50/30/20 Budget Rule?’ Available: https://www.investopedia.com/ask/answers/022916/what-502030-budget-rule.asp

[10] FDIC. ‘Money Smart Financial Education Resources.’ Available: https://www.fdic.gov/resources/consumers/money-smart/