{"id":49799,"date":"2021-09-29T10:58:41","date_gmt":"2021-09-29T02:58:41","guid":{"rendered":"https:\/\/www.imoney.my\/articles\/?p=49799"},"modified":"2021-10-18T16:35:14","modified_gmt":"2021-10-18T08:35:14","slug":"debit-card-budgeting","status":"publish","type":"post","link":"https:\/\/www.imoney.my\/articles\/debit-card-budgeting","title":{"rendered":"Is Your Debit Card The Secret Weapon To Sticking To Your Budget?"},"content":{"rendered":"

In partnership with\u00a0 \"\"<\/strong><\/p>\n

Staying on top of your budget is a crucial part of making sure that you\u2019re financially secure. However, if you find it hard to practice self-discipline when it comes to spending, there\u2019s good news: you don\u2019t have to rely on sheer willpower alone.<\/p>\n

Instead, you can make use of the right tools to help you stick to your budget. In fact, you probably have one such tool in your wallet right now. That\u2019s right, your debit card is more than just a piece of plastic you can use to withdraw money. Debit cards can be powerful tools to help you stay on top of your finances. Here\u2019s how.<\/p>\n

<\/span>1. They are compatible with popular budgeting methods<\/span><\/h2>\n

Budgeting methods usually work by making you save upfront, then helping you allocate the rest of your income. This makes debit cards really useful, as you can allocate a certain amount of money to each card. For example, here\u2019s how to make them work with two popular budgeting methods.<\/p>\n

a) 50\/30\/20 budget<\/strong><\/h3>\n

The 50\/30\/20 budget<\/a> suggests that you allocate 50% of your income to needs (e.g. necessary expenses like housing), 30% to wants (fun expenses like dining out) and 20% to savings. To make this budget work with debit cards, set up monthly transfers that automatically move your money into these accounts right after you get paid:<\/p>\n