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BUDGET & DEBT

Simple budgets, grocery wins and payoff plans that actually stick.

THE EASIEST BUDGET

Start here if you’ve never budgeted. Adjust the split for your city and your goals.

Needs are what you must pay. Wants are the fun stuff. Savings and extra debt payments come last on the list but first on payday.

The 50/30/20 budget

On $4,000 a month of take-home pay.

Budgeting

PAYOFF PLANS

Both work. Here’s how they compare.

Saves the mostAvalancheHighest interest firstRead the guide
Most motivatingSnowballSmallest balance firstRead the guide
AvalancheFeatureSnowball
Lowest
Total interest paid
A little more
Can take a while
First debt paid off
Fast
★★★★★★★★★★3.5
Motivation
★★★★★★★★★★5
Big high-rate balances
Best for
Many small debts
Needs a spreadsheet
Partial

Either plan beats paying minimums only. Pick the one you’ll stick with.

Car loan payment

See the monthly payment and total interest before you visit the dealer.

yrs
—

    Estimates only — actual figures may differ.

    SINKING FUNDS

    Divide each yearly cost by 12 and save it monthly.

    $100/mo

    Car repairs

    About $100 a month covers most yearly maintenance.
    $75/mo

    Holidays & gifts

    Spread December across the whole year.
    $60/mo

    Insurance

    Annual premiums, paid without panic.
    $40/mo

    Pet care

    Checkups, food and the occasional sock-eating incident.