Budgets work best when they include these 5 features:
- Safety Net
- Regular Bills Allowance
- Money for Everyday Life
- Money for Special Treats
People have different ways to work out their budget, but most have some or all of the 5 features. Allowing some flexibility with the money for special treats, comfort in knowing each month there is money set aside for regular bills, saving for future goals and being able to relax knowing there is some money set aside as a Safety Net.
Do you include all of the 5 features in your budget?