The purpose of budgeting systems is to help you get an idea of where your money is going and how you might want to adjust your spending. Each budgeting method uses a different approach to achieve that goal, so choosing a method is all about deciding what works best for you. It often comes down to what you're trying to do: for example, cutting back on spending, paying off debt, or building savings for future goals. It also depends on your own preferences in terms of how you want to track your expenses. In this video, Personal Finance expert Kim Palmer explains four of the most popular budgeting systems so you can decide which is best for you.

Useful NerdWallet tools mentioned in this video:

Budget worksheet: https://www.nerdwallet.com/article/finance/budget-worksheet
Budget calculator: https://www.nerdwallet.com/article/finance/nerdwallet-budget-calculator

Read more:

How to Choose the Right Budgeting System: https://www.nerdwallet.com/article/finance/how-to-choose-the-right-budget-system
How to Save Money: https://www.nerdwallet.com/article/finance/how-to-save-money

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