The Smart Investors

Your goals and lifestyle determine the best system to use in budgeting. Zero-based budgeting, envelope systems and percentage rules are the most popular ones. Each of these methods helps in controlling, spending and tracking expenses. It also helps in achieving savings goals as well.

I do budgeting by keeping the records of everything that I earned and spent, after which, I may decide to follow either the 50/30/20 rule or a more detailed zero-based budgeting.