Here Are the Best Ways to Budget in January (and Beyond), According to Pinterest

published Jan 10, 2020
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Credit: Joe Lingeman

Over the past few years, wellness has been taken off the back burner of priorities and at the forefront of to-dos. But self-care comes in various forms, including how you take care of your financial spending, and Pinterest’s latest report proves that many people are focusing on that side of wellness in 2020. 

The Pinterest 100 report predicts that one of the biggest trends this year will be achieving financial wellness, and has recommended all the trending tools necessary to do just that. From tutorial videos to budgeting templates and money tips to get you on the right track, the platform has offered up some ideas through trending terms—and are hopefully as efficient as they are searchable. 

First, we have “zero based budget,” which is up on search by 61 percent. In the beginning of every month, you’re expected to assign every penny (every. single. penny.) of your income to a particular purpose. That means a certain amount of money goes toward food, bills, fun… just so you figure out what’s doable for your financial goals and savings. 

Next, there’s “money challenges,” which is up by 89 percent. This essentially means you’re challenging yourself to save up for something in particular that year—whether it’s a wedding or a big trip—and you build a weekly savings plan to hit that money goal in a given period of time. 

If you’re looking to finally pay off that debt (*raises hand*), then the trending “snowball method to pay off debt” (up 189 percent) might be right for you. The snowball plan is all about paying off the smaller debts first, building momentum to eventually knock off those monster numbers. Pinterest recommends these tips to get you going (and keep you on that track). 

And finally, for those looking to round out your food spending budget, you’re not the only one. “Budget meal planning” is up by 196 percent, so whether you’re trying to cut cost while dealing with a dietary restriction or just have several mouths to feed, there’s serviceable content out there for you (especially over on Kitchn!).

So hopefully, Pinterest has now given you the tools to let you (and your bank account) succeed. Go forth into 2020 on the right spending note!