Lesson 7-5: Types of Budgets
Attempt: 5
Budgeting System
There are several different budgeting systems available to you – just like a budget, not every system will work for everyone. You need to find the one that is right for you.
First there is a mental budget. You must be extremely disciplined in order for it to function appropriately. A mental budget is most suitable when your financial responsibilities and resources are fairly limited.
Learn more about metal budgeting at:
Psychology Today's Setting Mental Budgets as a Mean of Self-Control