Budget your way to financial success with these easy templates

The word budget doesn't spark joy in everyone. Like diets and to-do lists, you might think budgeting is all about deprivation and discipline. But the process doesn’t have to be painful. And even once you do pick a strategy, it’s not set in stone.  Flexibility (and some best practices) can keep you motivated and ensure your budget stays on track.

When it comes to budgeting, one size does not fit all. Your unique goals and priorities as well as your personality and motivation style all influence the budgeting approach that will work best for you.

Think of a budget as a tool you use to accomplish your financial goals. Maybe you want to get out of debt , save for a down payment on a home or go on a dream vacation. When you budget with these objectives in mind, it makes any spending sacrifices required a little easier to bear. Without your “why,” it’s hard to muster up the willpower to put your budget into motion.

Budgeting is important, but creating one is just the beginning. Putting your budget into practice is where the real work comes in, and to help evaluate its efficacy, you should regularly check your progress against your goals. Use smart tools like Buckets and Boosters (features of Ally Bank Online Savings Accounts) and automate wherever feasible to streamline the process and minimize those everyday hurdles that can get in the way of budgeting success.

Have you ever been shopping and found an outfit that looked perfect on your friend but it wasn’t quite right for you? Style is personal and budgeting is no different.

The budget method you use should be reflective of you as a person and play to your distinct strengths and preferences . Not sure what works for you? These common budgeting methods can be a good place to start.

If you work best with clear, uncomplicated rules, the 50/30/20 budget is easy to set up, follow and maintain. It’s simple: 50% of your income gets allocated toward needs, 30% toward wants and 20% toward savings and debt repayment. It’s up to you to nail down how to categorize, but generally needs include expenses like your mortgage or rent, groceries and car payments, while wants may include things like vacations and dining out. Student loan payments, retirement contributions and credit card payments are usually best categorized in the savings and debt category.

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The zero-sum budget (also called zero-based) gives a purpose to each and every dollar. You use your last month’s income to budget for the month ahead, with the goal of reaching equilibrium (aka your income = your expenses).

If you believe the devil is in the details, you might thrive with a line-item budget . You may have heard of this method for businesses rather than individuals. But getting into the nitty-gritty of your personal finances can help clarify your spending and saving habits, which enables you to make adjustments and improvements as you go.

When you reach one small goal, use the momentum to keep going. Hitting benchmarks can inspire you to set even more ambitious goals. Once you become debt-free, for example, you might next set your sights on revamping your investing strategy. Consider rewarding yourself (with either a small monetary or non-monetary treat) each time you reach a goal to inspire yourself to stay on track and keep aiming higher.

As you progress through life, the things that matter to you most will change, so should your approach to budgeting. Reprioritizing goals and finding the right approach is important at every life stage.

As a teenager or young adult, your priority may be saving toward your first car or to fund higher education. This formative time is critical for establishing good budgeting habits and getting ahead of your goals. Whether you are a high school student saving for your first apartment post-graduation, working your first full-time job, or simply wanting to put those babysitting earnings to the best use, a budget can help bring your goals—big and small—to life.

If you find yourself in a serious relationship—perhaps starting to look at marriage, starting a family or homeownership , you probably already know these big life steps call for a critical eye on your budget and the chance to course-correct where necessary.

Deciding how—or even if—combining finances is right for you can be a tough conversation for couples. But talking through your shared money goals is the first step in determining the best approach and developing a budget that works for your household .

Budgeting for your retirement lifestyle may require a change of pace and a recalibration of your income and expenses. At this stage, you may be downsizing and focusing more on travel and hobbies and it might also be time to consider dedicating more of your budget toward healthcare needs.

Along the way, unplanned challenges — medical emergencies, career change or job loss, divorce and death of a spouse or a partner — can throw a wrench into your best-laid plans. Don’t be afraid to modify — or even completely transform — your approach to budgeting as your life circumstances alter your course.

As your life changes and evolves, the budgeting style that fits your needs might change, too. Just like you swap out your sweaters for flip-flops as winter gives way to spring, as you enter a new season of life, your money methods will likely benefit from a refresh. So while budgeting may feel intimidating and overwhelming, once you hit your stride you may just be on your way to a brighter financial future.