In this week’s Monday Money Minute, we discuss money chunking. Do you often calculate how much you can spend in a particular category, then have more month left over than money? Money chunking is the solution. Money chunking is when you break your budget categories into smaller pieces that allow you to spread your spending over longer periods of time. Money chunking is the last step in the budgeting process and will get your money to last at least as long as the month.
This is great for social spending and other non-discretionary categories. It’s a great way to stay #MoneyConscious. Click here to see the Budget Creep video that David mentions. For a great tool to help you with your new money chunking strategy, try Mvelopes with its FREE debt analysis.
The Monday Money Minute is the Debt Free Guys’ way of inspiring you on the toughest day of the week to stay true to your personal finance and life goals. Please let us know your thoughts, questions, and comments. We would love to hear from you. And, who knows? Maybe you will be the inspiration for the next Monday Money Minute.
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