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My paychecks technically go to my company, then I pay myself a small portion of that. The rest of it gets put into a company buffer (which I am still building u
by drakonka 5y ago
My paychecks technically go to my company, then I pay myself a small portion of that. The rest of it gets put into a company buffer (which I am still building up) and taxes. Once the buffer is built up sufficiently I'll start investing everything except for salary and tax into low cost index funds.
Once the small salary hits me, I have a monthly limit of spending money that I try not to go over. This limit excludes rent but includes all other necessities and entertainment. I don't always succeed in staying under the limit, but I always hover around it and don't raise it regardless of income changes. Any remainder goes into a vacation or emergency buffer.
More detailed forms of manual budgeting have not been something I've been able to stick with consistently (yes, I've tried YNAB). There used to be a handy automatic option that showed me a great breakdown of my spending categories and such, but that service got shut down. So now I just have the one limit.