The No-Budget Budget simplifies finances by automating savings and fixed expenses, leaving remaining funds for discretionary spending, ideal for consistent incomes, here are some things to know about it.
1
Automatically funnel at least 10% of your take-home pay into a separate savings account each payday.
2
Set up autopay for all fixed expenses, including house payments, utilities, phone bills, and retirement contributions.
3
After savings and fixed expenses, the remaining money is free for discretionary spending.
4
Minimal effort required for setup, allowing more time for hobbies and other interests.
5
Autopay ensures bills are covered, reducing the risk of forgetting payments and potential discounts for going paperless.
6
Not suitable for those with significant debt or new to budgeting, as it offers less control over spending.
7
Can be challenging to adjust if income fluctuates or decreases, requiring a more detailed budgeting plan.