The different ways to budget.

Updated: Jul 16, 2020

Mapalo Makhu

Personal finance is all about finding the best way to make your money work for you. And one of the cornerstones of personal finance is budgeting. And regardless of how much you earn, we all have to budget.

But what is a budget? A budget is telling your money where to go. If you look at your bank statement, it will show how you have prioritised how you spend your money. So a budget is really just a spending plan: how you allocate your money towards your needs and wants. Not one method of budgeting will work for everyone but there are several methods to choose from: