
Perplexed about "To be Budgeted"
Greetings all, I started with my checking and savings accounts yet I am far from it being zero for the month of September. Do I need to budget for the following months until it reaches zero?
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It's also useful to use startup capital to cover budget entries in the current month so any income earned this month is budgeted in next month's area. This is especially useful when paid multiple times per month. Since you don't need it this month, you can accumulate it in a holding category and budget the lump sum after all of it has been received. The workflow is much simpler when budgeting month-sized chunks.
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Right, rule 1 says give ALL of your money a job. So if TBB is not $0.00 yet, keep on filling those categories. As already mentioned, True Expenses and making sure everything for the month is covered are 2 big parts. If there's still money left, put it in a category to save for next month's budgeting. If there's still money left after that, (not sure how much is in your savings, or what it was for) then start making categories for specific reasons you're saving it for. A few examples: Income Replacement, Medical deductible, House repairs, Car repairs, vet emergencies (if you have animals) etc.