But this is not an iron-clad allocation and could vary across individuals and financial circumstances.
Your gross pay is important, but it's your take-home pay that supplies the money you need for the items on your household budget. I have counseled many people on how to get through college without taking loans, and without taking four years or more to do it.
John Frugal Rules — The miles and points game can be a fun one. Read more on EMI. Keep it flexible The best budgets are those that allow the household some flexibility.
Like I said when talking about college, we have decided to prioritize our own retirement savings over college funds.
Thankfully, she understands it even at the young age and she even started saving. For your variable expenses, write the maximum amount you plan to spend in that category or the amount you expect your bill to be. We have one child and he is all that we can handle in our lives.
But the use of plastic and other cashless modes means that overspending can be a problem. My contact info is at the bottom of this post or over on my blog as well.
I am super impressed! Corprew suggests allocating about 25 to 35 percent of your income for housing. Thanks for sharing your story and budget. The only exception to this should be the money earmarked for investing.
The next layer should consist of savings, he says. Serfas recommends putting budgetary needs in the right order. Use your bank statements to help you figure out what you typically spend each month and to make sure you're not leaving out spending in any categories. This includes salary, rent, interest on deposits, dividends, etc.
Great article Brother Miller.
It does take a bit of time to keep things straight and make sure you make all the payments paying interest on credit cards is pretty dumb, right!?! Continue Cancel. I, too, live in Cincinnati.