Yo brah---read the book I suggestedhttp://www.amazon.com/Will-Teach-You.../dp/0761147489
(or just crawl around his blog..a lot of good advice there before he decided to dedicate all of his time to entrepreneurship)
I don't know that I follow a specific formula...but most of it is automatic and recurring.
I get paid every 2 weeks and the money dumps into a citi checking account that functions as my inbox (they seem to have good transferring and online bill pay options). Pre-tax things like 401k have already been taken out at this point.
a few days later, some transfers kick in. A portion automatically goes to the brokerage that houses my Roth and a larger portion goes to a high interest ING account (because they let you have sub accounts without actually splitting the real account). Citi automatically cuts a check every month for rent and student loans all pay directly from the checking too. The amount left in the account after transfers is enough to cover my normal credit card bill (large things like a planned furniture purchase or an emergency repair get a transfer back from the ING account).
I don't really split my ING into many sub accounts (for instance...I did not see the point in starting a "wedding" account at this point) but the functionality is there to save and budget for separate things. I actually keep my emergency fund in a different high yield account that provided an ATM card so I can get to it immediately.
The nice little bit about automatic transfers and sub accounts is that it is psychologically easier to increase a transfer that is already happening than to start something new. If you are only saving $5 a month for something and it suddenly becomes more important to you or your income increases, it is a lot easier mentally to ramp it up than to start fresh (and that little pile of $5s gives you momentum)