- What is the reverse budgeting method?
- Rules for the reverse budgeting method
- Who is this budgeting strategy best for?
- Who is this budgeting strategy not for?
- How to get started with the reverse budgeting method
- Pros and cons of the reverse budgeting method
- The bottom line
What is the reverse budgeting method?
Rules for the reverse budgeting method
Evaluate your spending
Set a savings goal
Calculate what’s left
Adjust your goals as needed
Reverse budgeting example
|Budget View #1||Budget View #2|
|Retirement - $300||Retirement - $400|
|Down payment - $500||Down payment - $600|
|Vacation fun - $200||Vacation fund - $200|
|Leftover spending - $900||Leftover spending - $700|
Who is this budgeting strategy best for?
Anyone struggling to save
Anyone with a steady income
Who is this budgeting strategy not for?
Someone who already has a handle on spending
Someone with an established savings regimen
Anyone without a steady income
How to get started with the reverse budgeting method
Pros and cons of the reverse budgeting method
Pay yourself first
Minimize nonessential purchases
Can feel strict
Requires steady income
The bottom line
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