HOW WOULD MUST TO BE A IDEAL BUDGET

If you are trying to stay on/under budget, you need to calculate your monthhly paycheck, if you are a couple and share the budget also him/her paycheck, monthly  expenses and this could be really stressful-or better it is been stressful for me everytime I changed work and/on period wheen my salary was  equal every month,or the month when I have a lot of birthdays, weddings or desire of insane shopping, but it doesnt work with budget, because I'm trying to save at the same time.
In one of my trip in Rome, I found in the christian bookshop, a very interesting book "Good $ense budget course: biblical financial principles for trasforming your finances and life" by Dick Towner and John Tofilon.

On first chapter you find a scheme with % would must be divided

Income
monthly salary
monthly salary (if you are a couple and share the budget)

  1. Give (church, other donations) 10-15%
  2. Savings (Emrgency fund)5-10%
  3. Debts (credit cards, loans) 0-10%
  4. Home (mortages,rentals, taxes, house bills. light, electricity, adsl, cable tv,digital decoder,phone, water) 25-40%
  5. Trasportation (car loan, fuel,gasoline, maintenance, bus, train) 12-15%
  6. Insurances (car, house, life, others) 5%
  7. Personals expenses (food,clothes,gifts, products for home,make up, hairstylist, cigarettes, books-magazines,school, technology, others) 15-25%
  8. Free time-fun stuff(restaurant-pizza, concerts-events, vacation, gym, hobbies, others) 5-10%
  9. Professional services (babysitter, healt services, dentist, lawyer) 5-10%
  10. daily expenses 2-3%
Good balance is when monthly income less monthly expenses= leftover, while when expenses are more than income, well you need to work on it, but having write what and where you spend your money you know which area you need to asset. if you smoke, I suggest to quit for your healt on first side and yes also economical side, your wallet will thank a lot in the end of year and with the amount you will save you can pay a holiday or bought a important thing, ok calculate qhat do you spend every month for your cigarette, calculate it for a year and it is a lot of money out from your pockets, so with that amount think what woould you like to do or buy and put it as goal to achieve.

Budget is a love-hate relationship, it is stressing but helpful at the same time, and if you have a online bank account check it on specific days, at least once per week, so you know exactly the amount and that the budget is working. Honestly every time I changed work I needed a couple of months to undeerstand how my budget could work, on first onth I always overspended only on third month I understood my budget, but having checked, controlled and studied my budget several time, did a lot of mistakes but now I am became quiet good with it.

how iis your realtion with budget? how is your division?

Commenti