We're not talking about buckets to separate your whites and colours in the laundry – bucketing is actually a style of budgeting. Even if you’re not thrifty or good at maths and are all-round the opposite of a financial prodigy, you could find it quite a banking no-brainer to get around bucketing. It can be simple, efficient, and you can even make it a direct debit. It’s like the old school envelope budget. You know, when your mum or dad would stuff cash in different envelopes – one labelled RENT, another labelled EMERGENCY, the third labelled BIRTHDAYS etc.
The envelope system seemingly worked for mum and dad because it ensured they had all their financial bases covered. For example, they could always keep a roof over your head, clothes on your back and fish fingers in the freezer.
But even if you don’t have kids to house, clothe and feed, bucketing is still a super useful way to manage your money, and right now could be a stellar time to start. But how does one begin bucketing?