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It doesnt have to be.
A flexible budget could suit your personality and lifestyle more.
However, a flexible budget allows for an irregular income as well as variations in expenses.
But what does budget flexibility really mean?
That means knowing when to stick to your plan and when its okay to rewrite it.
Pit a fixed budget and a flexible budget against each other to see which makes sense for you.
Embrace Adaptability
Budget flexibility is all about elasticity.
Its the opposite of a strict budget.
Some of the things that change are in your control, while others are clearly not, Rebell said.
Its one of the reasons were so susceptible to impulse spending.
Groceries should be included in this, but you might find ways to trim this category.
after you snag your core expenses set aside, consider your values to determine your other budget categories.
Instead of budgeting per category or store, you budget related to your values, Smith said.
Create a Wiggle Room Category
Even the best-planned budgetsneed breathing room.
Thats the appeal of a flexible budget.
Life happens and that can be a wonderful thing!
Build flexibility into your budget for exactly these scenarios, Rebell suggested.
Think of it as a life happens fund.
This way, when surprises come up, youll havesomethingset aside and your entire budget wont implode.
Rethink any self-imposed rules that may no longer be worth sticking to anymore, according to Rebell.
Perhaps you have a line item for self-care every quarter that includes a massage.
Just double-check you arent falling for lifestyle creep in every area of your financial life.
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