Great video! The buffer is truly the way to go! It can get so confusing with pay check to pay check budgeting! I think that's why most people lose interest in budgeting because it can be daunting at times trying to figure it out. definitely going to try and do the buffer. Thanks for sharing 👍 😊
New subscriber. It's very smart of you to keep a buffer in your account. Glad to hear you also have an emergency fund. During these weird times we're in, that's a GOOD move! I always budget a month ahead using last month's money to pay this month's expenses. My own personal "buffer" is usually between $1000 to $5000 but I usually transfer money over to my Ally savings once there's more than a few thousand in there, and I stretch it around throughout various sinking funds. OBSESSED WITH BUDGETING!!
This is ingenious! I didn’t even realize this was a think but it makes total sense. I have been trying to find a way to better automate my budgeting process and I think this is exactly what I have been looking for without even knowing it. Thanks so much for sharing!
I have a buffer of $200.00. I think I heard Dave Ramsey say it was ok to have a buffer because a zero based budget does not mean your checking account is zero.
We discovered having a $1,000 buffer was not good for us. I ended up over spending in my spending categories just knowing the money was there. I noticed that life experiences defiantly shape what we do with money. For 20 years my husband served in the Navy and we only had one income during that entire time. We also only had 2 paychecks a month which meant not a lot of room for extra money. I always paid close to every penny we had in the bank so as to not go over. Now we are making more than we did in the Navy and I really have to pay attention so that we don't over spend the extra money. So our checking doesn't have much of a buffer just a couple hundred dollars. Sense I took out most of the buffer and put it towards debt I don't over spend in my categories as anymore. I think it works for us this way because of the types of steady income we have. If our income was more variable like yours is now I think we would keep a larger buffer like you. Enjoyed your video. Have a blessed day.
Glad you explained this to people! We have a buffer of our monthly expenses too. I also don’t count it in our budget, other than a note on the side saying what the buffer is and making sure when I close it the month out, the buffer is replenished if need be.
Hi Sara! I love watching your videos. I’ve been going back watching the older ones 🥰 I totally agree with the ‘buffer’. Do you include/assign the buffer to a sinking fund or is the buffer above and beyond your sinking funds?
I think for right now i just want 100 bucks in my 2 checking accounts. I have my 1k saved in a savings, and i budget a month ahead with cash. So i pay all my bills on the first, put money aside with each check for next months bills in cash envelopes, all extra goes to debt and repeat. I take this months income out of the bank frequently, but im not spending it until the end of the month, when i know nothing else came up and im ready for next month. Halfway through March i have April's bills saved, sinking funds funded, and a big chunk to put aside for debt. It sits in my safe for 2 more weeks, then goes to the payments it needs to go to.
New subscriber. I searched "how to start a bank account buffer" and found your video. Living in housing, I wouldn't be able to save this in my bank account, because it would count as income, which would raise my rent. I would have to keep it in my apartment. Eek.
Recent subscriber! Great video! Wonderful explanation and breakdown of what a buffer is! Congrats on growing yours to $5,000! Another channel I recommend you take a look at is Canna Campbell's channel SugarMamma TV. She shares advice on budgeting, saving, and eliminating debts! I think you may like her videos too! I'm looking forward to your future uploads!
Great video! The buffer is truly the way to go! It can get so confusing with pay check to pay check budgeting! I think that's why most people lose interest in budgeting because it can be daunting at times trying to figure it out. definitely going to try and do the buffer. Thanks for sharing 👍 😊
New subscriber. It's very smart of you to keep a buffer in your account. Glad to hear you also have an emergency fund. During these weird times we're in, that's a GOOD move! I always budget a month ahead using last month's money to pay this month's expenses. My own personal "buffer" is usually between $1000 to $5000 but I usually transfer money over to my Ally savings once there's more than a few thousand in there, and I stretch it around throughout various sinking funds. OBSESSED WITH BUDGETING!!
This is ingenious! I didn’t even realize this was a think but it makes total sense. I have been trying to find a way to better automate my budgeting process and I think this is exactly what I have been looking for without even knowing it. Thanks so much for sharing!
i’ve always counted my buffer in my budget but it actually makes more sense to not count it, thank you!!
I have a buffer of $200.00. I think I heard Dave Ramsey say it was ok to have a buffer because a zero based budget does not mean your checking account is zero.
This is such a great idea!! I will definitely be incorporating this into my budgeting process. 🤓
We discovered having a $1,000 buffer was not good for us. I ended up over spending in my spending categories just knowing the money was there. I noticed that life experiences defiantly shape what we do with money. For 20 years my husband served in the Navy and we only had one income during that entire time. We also only had 2 paychecks a month which meant not a lot of room for extra money. I always paid close to every penny we had in the bank so as to not go over. Now we are making more than we did in the Navy and I really have to pay attention so that we don't over spend the extra money. So our checking doesn't have much of a buffer just a couple hundred dollars. Sense I took out most of the buffer and put it towards debt I don't over spend in my categories as anymore. I think it works for us this way because of the types of steady income we have. If our income was more variable like yours is now I think we would keep a larger buffer like you. Enjoyed your video. Have a blessed day.
Glad you explained this to people! We have a buffer of our monthly expenses too. I also don’t count it in our budget, other than a note on the side saying what the buffer is and making sure when I close it the month out, the buffer is replenished if need be.
I love this! I use my buffer category to save my paychecks since we live on last month's income.
Hi Sara! I love watching your videos. I’ve been going back watching the older ones 🥰 I totally agree with the ‘buffer’. Do you include/assign the buffer to a sinking fund or is the buffer above and beyond your sinking funds?
I think this just answered my budgeting mystery
🙋🏻♀️ paycheck budgeter here and I can attest that it is annoying and confusing, so I’m no longer doing it and I’m sooooo excited haha! 😂
I totally agree with the buffer.
I think for right now i just want 100 bucks in my 2 checking accounts. I have my 1k saved in a savings, and i budget a month ahead with cash. So i pay all my bills on the first, put money aside with each check for next months bills in cash envelopes, all extra goes to debt and repeat. I take this months income out of the bank frequently, but im not spending it until the end of the month, when i know nothing else came up and im ready for next month. Halfway through March i have April's bills saved, sinking funds funded, and a big chunk to put aside for debt. It sits in my safe for 2 more weeks, then goes to the payments it needs to go to.
New subscriber. I searched "how to start a bank account buffer" and found your video. Living in housing, I wouldn't be able to save this in my bank account, because it would count as income, which would raise my rent. I would have to keep it in my apartment. Eek.
Definitely not ideal but maybe get a lock box or small safe? At least it’s a little protected?
First comment and view. I'm interested in this topic.
Can you do a clothing haul with links? I’m loving your style
This is definitely a goal of mine!
We tried having a buffer and it didn't work b/c it would get spent. We use my 2nd paycheck to pay the next month's bills.
My goal is to get ahead and only budget once a month even though I get paid weekly.
Recent subscriber! Great video! Wonderful explanation and breakdown of what a buffer is! Congrats on growing yours to $5,000! Another channel I recommend you take a look at is Canna Campbell's channel SugarMamma TV. She shares advice on budgeting, saving, and eliminating debts! I think you may like her videos too! I'm looking forward to your future uploads!