If you’re like many people, you probably want to save more money but hate the idea of budgeting. Maybe you don’t like tracking every single expense or feeling restricted by spending categories. Maybe you just want a simple and flexible way to manage your money without too much hassle.
That’s where the 80/20 method comes in. Also known as the anti-budget or the “pay yourself first” budget, it’s a simple approach to saving money that doesn’t require a lot of maths or planning. It works by dividing your take-home income into two parts: 20% for savings and 80% for spending.
How does the 80/20 method work? Why should I use the 80/20 method? How can I use the 80/20 method? What are some drawbacks of the 80/20 method? In under 3 minutes, we answer your questions !
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A Bababam Originals podcast written and realised by Amber Minogue.
In partnership with upday UK.
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