The Budget Buffer: WHAT it is and WHEN to use it
A budget buffer!? What is that?
A budget buffer is going to SAVE your budget when unexpected events happen. I’m not talking emergencies like trips to the ER or flat tires (Those would come from Medical or Car categories), rather the last minute notification that the event you were about to go to is a potluck, and you’re out of grocery money.
For most people, this budget buffer could be as small as $10-$20. Anything outside of that should be coming from other categories.
One of the hardest aspects of budgeting is sticking to it because it requires self control. A budget gives us the freedom to spend our money, which is why I recommend creating a category for EVERYTHING. Date nights, cosmetics, hair appointments, coffee money- You name it! The more categories you have, the less need you’ll have for this “buffer” in your budget!
If you’re just getting started, be sure to click the announcement bar on my website for a FREE budget sheet!