There are a few different budgeting methods that you can go with when you rent an apartment. Some of them, like the 60/40 budget, allow you to divide up your income based on percentages, which can be nice if yours tends to vary from one month to the next or you would like to pick out a budgeting plan that is going to grow with you as time goes on. Knowing how the budgeting method works and seeing if it can help with some of your financial goals can be key.

With this budgeting plan, you will be able to take 60% of your income and put it towards the things that you will need to pay off each month. Once you have those covered, the other 40% of your income will be for what you would like. Whether you have some big financial goals you would like to reach, you will be able to put more of that 40% towards it. This can work, no matter the amount of income you make at the time.

There are a few drawbacks to choosing this budgeting method over some of the other ones though. These drawbacks include:

# This budgeting method can sometimes lack the guidance that someone will need when they are getting started on their finances. It does not provide a good way for you to track your spending or how to handle some of the problems of overspending that you have. You will need to look for some other guidance along the way to help out.

# This plan is going to leave all of the savings up to the individual. You could spend the whole 40% on anything that you want and not put anything into savings. You will need to be dedicated to make this happen and to avoid overspending your money or you will get no good results from this budgeting method.

No matter what budgeting plan you choose to go with, it is a good idea to find an apartment that will help you stick with it. That is why our Vintage Franklin apartments for lease should be on your list. We are confident that you will fall in love with these rentals and want to make them your own in no time, giving you a great space to call all your own. Whether you want some space that is all your own or you need more room for a roommate or your family, these apartments will check the list for you. Contact a member of our team today to learn more and to schedule our own tour.