The saving canvas was inspired by the business model canvas. It will help you make a budget that works. Surely, the goal is to break down all your spends. That is because we consider your budget as a set of blocks. Visualization can help eliminate non-essential spends and aid you come up with alternatives. Hence, mastering the saving canvas will assist you to map out and to design the most effective budget.
Takeaways: How to Make a Budget That Works
- Key spending: the block represents all transactions. You will unravel all your spendings to look at a granular level. Don’t forget every aspect or activity.
- Resources. They are either monetary or time. Sometimes, we tend to only focus on the financial aspect of budgeting. So including time will go a long way.
- Reasons for spending: Here we answer the question “why do you need this?”
- Payment methods: Card, cash and time.
- Alternatives: Do you have alternatives that provide the same level of satisfaction?
- Total spending: quantify all your spendings
- Total alternative: quantify all the alternatives
- Saving: This is the difference between alternatives and savings.
However, you will not achieve all the intended goal, if you don’t dedicate yourself.
Learn How to Make a Budget That Works with The saving canvas
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