DAVE RAMSEY BUDGET PERCENTAGES SERIES
Next up on the series is everything you need to know about Emergency Funds and Sinking Funds. Remember, your financial situation is different from anybody else, so don’t be afraid to make adjustments so that it will align better with your financial goals. Those are the budget categories and percentages that you can use to craft your budget. IRS Final Thoughts on Budget Percentages And Categories For A Personal Budget.I usually refer to my budget categories when I was doing the cash envelope budget system. Not all of them are applicable to you so only pick the ones that will work for your family.
Here are the Budget Categories that you can include in your budget.
DAVE RAMSEY BUDGET PERCENTAGES HOW TO
If you keep your eye on the prize, then you will know how to perfect your budget. You see, everyone’s financial situation is unique but the most important thing is to focus on your goal. For example, if your financial goal is debt freedom, then you might focus more on paying off your debt rather than saving for a vacation. You still need to tweak them to fit your unique financial situation. Once you get the hang of it then you can start going into more detailed budgeting.īoth of these budget percentages have their advantages and disadvantages. The 50-20-30 Budget Rule is best for those who are new to budgeting because it is easy and simple to follow. This includes vacations, dining out, entertainment, shopping trips, and other luxuries. If your health insurance and retirement contributions are accounted for in your paycheck make sure the amount falls in line with the budget percentages below. 30% to Wantsģ0% of your income will be spent on the things you want to do but you can live without, otherwise known as fun money. These budget percentages should be calculated on your net income (after all taxes have been taken out). The 20% of your income will be spent on funding your emergency fund, retirement, student loan payment, personal loans, and credit card payment. Half of your income will go to areas that you cannot live without and that includes housing, food, transportation, utilities, and healthcare.
0 kommentar(er)
