The Why and How of Budgeting for It

Chris Zuppa/The Penny Hoarder The term “fun money” means different things to different people.  You might think of it as money for entertainment or eating out. It could be your growing vacation fund or the...

How to Create a Bullet Journal Budget to Track Your Money

Instead of choosing from the dizzying array of online budgeting tools, here’s a novel thought: The best solution to keeping track of your money may be writing everything down with pen and paper.   The bullet...

What to do With Extra Money After a Raise or a Windfall

Updated September 4, 2019 Having extra money in your bank account is an awesome thing. You’ll probably feel like celebrating if you get a raise, pay off a big debt or receive a large financial...

Experts Say This Is What Your Budget Percentages Should Look Like

Unless you treat budgeting like a book club and openly discuss your spending habits with your friends, you may not realize you’re overspending — or underspending — in certain categories. Budget recommendations can help you...

How Much Should You Spend on Essentials? Here’s What the Experts Say

Unless you treat budgeting like a book club and openly discuss your spending habits with your friends, you may not realize you’re overspending — or underspending — in certain categories. Budget recommendations can help you...

Blown Your Budget? This 5-Step Plan Will Get You Back on Track

In budgeting, all it takes is one ill-timed expense to send the best-laid plans into a tizzy. Maybe you blew your budget for reasons out of your control: a sick pet, a car breakdown or...

How Do I Say No to Family Asking for Money?

Dear Penny, I have been the only one working since my wife and I had our first child, and it is stressful at times, especially when I’m laid off.  We just bought our first home together,...

7 Simple Ways to Save Money When You Have a Kid

Life gets busy, especially with a kid under 5. You go from sleepless nights to messy mealtimes to curious toddlers to, suddenly, tiny humans who talk and have (very strong) opinions. Then, before you know...

How Much To Budget For Car Maintenance and Repairs

You know that sinking feeling when you see the “check engine” light illuminate your dashboard or hear strange noises coming from under your hood? That’s the dread of having to take your car to...

How to Plan for the Worst and Prepare for a Financial Emergency

Nobody plans to lose a job or fall ill. But you can plan for unexpected events so they don’t topple your finances. 4 Ways to Prepare for a Financial Emergency Here’s what to do to prepare for...

5 Ways to Manage Your Money on a Reduced Income

Life can be unpredictable.  One day you’re managing your finances just fine in a two-income household. Then something happens — a layoff, an injury, a separation — and you’re left with one paycheck to support...

Starting a Budget? Do These 7 Things First

You’re ready to start a budget — awesome! You’re probably feeling excited and ready to get your money in order. But here’s the thing: It’s super easy to give up on budgets. They can get...

The 60/20/20 Budget Is Perfect If You’re Struggling to Save Money

Michaela Estes and Alexandra Vincent/The Penny Hoarder I always thought the right budget breakdown was the tried-and-true 50/30/20 method, where 50% of my monthly take-home pay goes toward living expenses, 20% toward savings and...

How to Create a Child Care Budget That Works for Your Family

Finding the right child care option for your family and your budget can feel like a Catch-22. You want the best for your kid — a friendly, well-qualified caregiver who will meet all your...

Here Are 5 Major Life Events to Budget For in Life

Certain events in life are so big, so momentous, you wouldn’t dream of confronting them unprepared. It would be like going into war unarmed. Like setting sail without a life jacket. But just as you wouldn’t...

How to Budget as a Freelancer: A Quick Guide

As a freelance writer, I have a good idea of how much money I’ll bring in every month — but my estimate is rarely perfect.  Sometimes I don’t get as many assignments as I had...

6 Reddit Budget Communities to Help You Manage Your Money

Budgeting can seem so solitary sometimes. You’re trying to get your income to cover your expenses and meet your financial goals. But input from — or venting to — other folks can be a huge...

Use These 7 Steps to Budgeting so You’re on Track by Next Month

“I’ll start a budget … next month.” If only I had a penny for anytime someone uttered those words. Then the next month rolls around and that plan to start budgeting is long forgotten. Or you...

Yes, It’s Possible to Create a Back-to-School Budget and Stick to It

Back-to-school season comes around the same time every year, but like the holidays, it has a tendency to sneak up on parents — and their bank accounts.  It’s like one day, you’re relaxing on the...

My Fiance Made Me Sole Breadwinner by Default

RODCHENKOV DMITRIY/Getty Images Dear Penny, My fiance lost his job nearly six months ago and got a decent severance payout. We used most of the money to pay off debt and have been surviving on...

Manage Your Money Each Time You Get Paid With a Paycheck Budget

Much of the conventional advice for creating a budget is based on managing your money for the entire month. But unless you’re paid monthly on the first, you may find it challenging to plan...

Keep Tabs on Life, Money in One Place With a Budget Calendar

Put the spreadsheets aside. Don’t worry about downloading an app. You can manage your money with a simple tool you probably already use on a regular basis — your calendar. It doesn’t matter whether you...

A Guide to Paying for Your Big Day

From the dress to the cake to the reception venue, wedding planning can pull you in dozens of different directions. It can also pull on your purse strings until they’re ready to snap. According to...

Our Simple Guide for How to Budget

If you’re anything like me, you’re perpetually swinging between vowing to cut all unnecessary spending cold turkey and humming “Treat Yo’self” as you order your third UberEats meal in 12 hours. Which one you’re doing...

Why Cash and Piggy Banks Offer the Best Money Lessons for Kids

Liz Frazier is pictured with her two children. Photo courtesy of Liz Frazier When you buy food with a swipe of a card and pay bills with a click of a button, what are...

The Budget Mom Shares Her Budget-By-Paycheck Method

Zero-based budgeting. The 50/30/20 rule. The cash envelope method. There’s no shortage of useful budgeting methods, but what works for one person may not work for the next. That’s something Kumiko Love, an accredited financial counselor and founder...

This Woman Bounced Back From Budgeting Failures and Became The Budget Mom

Kumiko Love is known online by the moniker The Budget Mom, but money management didn’t always come natural to her. Having a finance degree didn’t make her immune to money issues. Not long after graduating...
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