I've heard mention in this channel about a 2 part budget - yearly and monthly. How exactly does that work?

Most people have monthly expenses and non monthly expenses such as yom tov, summer camp etc. If you add up all non monthly expenses you can divide that number monthly and add that amount as "yearly expenses" to your monthly budget and put that aside for when that is needed.

Ah ok that's what it is, makes sense. Thanks

Thanks @creamy-spoon-14332 ! I think what is usually meant by this here is short term vs long term planning. Like annually you need to be putting away x amount for that chasuna in 20 years but that doesn't impact your day to day budgeting.

@mysterious-tomato-10057 first of all, that's quite an expensive esrog for Baltimore. Second, are you referring to something else by "annual budget"? I'm not following your chasunah example, especially the part about "doesn't impact your day to day budgeting".

I drive to crown heights to get my esrog 😉 I don't understand your second question

Are you saying that esrog is still only considered a "monthly" budget?

Yes

And a chasunah is an annual budget?

I don't think I would use those words but yes. By annual I meant year by year budget as in knowing that X expenses in Y year. I would call it your short-term versus long-term plan

Ok maybe I'm misunderstanding the terms used, I'll have to look back at earlier threads.