If you need to get your finances in order but budgeting triggers you, TikTok has a method that could work. The Four Bucket method is going viral for its simplicity. Here’s how it works:
Alex King, a financial coach and founder of personal finance website Generation Money, explains that there’s no tracking the funds, but you do split your income into four distinct categories and assign a purpose to each dollar.
The buckets are: essentials, lifestyle, short-term savings, and long-term investments. You allocate the money where you can with essentials (like rent or mortgage) taking priority. You divvy up the rest into the other three buckets at each payday.
Take out auto payments to yourself to get things going.
Source: Bustle