Write about your approach to budgeting. #Dailywritingprompt. #economy #nationaleconomy.

According to recent documented reviews there are four types of approach to budgeting. These are:

A. “Incremental to budgeting “.

B.”Activity based to budgeting”.

C.”Value proposition to budgeting”.

D.”Zero based to budgeting”.

Each type of budgeting has its advantages and disadvantages.

My personal approach to Budgeting.

My approach to budgeting for my family is different and it is based on:

A.Increase in income. If the family income increase and is stable and no changes from year to year. Then I might have a bigger budget such as increase of investment, wardrobe change and increase in taste more nutritious meals.

B.National economy. If there is poor national economy. I would decrease family spending irrespective of stability in year to year income and save more.

C.Lost of job : This will mean lower budget and less money to spend until employment is restored.

D. Cost of everything is weighed. I will depend on sales buying in bulk and visiting thrift stores for bargain, yard sales.

E. Constantly browsing through emails, indeed, LinkedIn searching for the next jobs or opportunities.