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What makes sense for a budget?

News You Can Use:

The number one argument in most marriages is about money.

The 3 biggest unconscious spending habits are: credit card abuse; excessive dining out; entertainment overspending.

Spending wisely is a long term solution – there is no quick fix.

An easy way to draw up a simple spending plan is to organize expenses into three categories:

  1. Fixed (mortgage, taxes, insurance, etc.)
  2. Variable (groceries, phone, gas, etc.)
  3. Discretionary (clothing, entertainment, grooming, etc.)

90% of all Americans have the worry of living from paycheck to paycheck.

Everyone needs time to assess his or her financial situation and dreams. Here are some budget percentage guidelines to consider. Remember, these are after-tax amounts:

These ranges clearly leave room for a lot of personal fine-tuning, and that flexibility is one of the advantages of the percentage method. If you live with your parents, you can move all of that housing allocation to other categories, while if you live in a major urban center, you might easily find yourself on the high end of the housing range even if you live far from the city center with roommates.

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