Flex budgeting is a simpler take on using a [[Budget]]. Whereas most budgets _have_ multitudes of categories, flex budgeting only has 3 or 4 (and, in a way, sort of only _one_). > [!tldr] fixed, non-monthly, goals, & flex... where you only control "flex" The approach is to consider fixed costs, non-monthly (intermittent) costs, and optionally goals as "facts" of life - as accepted and not worth trying to control. Then you've got a group called "**flex**", which is essentially discretionary spending. The difference between this approach and what I've considered before is that "fixed" costs does **not** include any food expenses. Yeah, you need food, but _how_ you spend on food is discretionary. ![[Pasted image 20250111121543.png]] This method I like because it disregards the things like vacations and annual membership costs that always made budgeting seem so complicated. **** # More ## Source - https://www.monarchmoney.com/blog/fixed-flex-spending-what-it-is-and-how-to-get-started ## Related - [[NYMO]]