Personal Finance

Budgeting and saving

Your Budget by the numbers

Creating a livable budget seems confusing, but its really simple when you start with the big picture.

The best getting-started guideline is 50-30-20 rule. That standard helps define you big spending buckets, but allows flexibility inside the buckets based on your unique situation.

Big Spending Buckets

NEEDS 50%

Housing, Food,Car,Medical , work-related expenses,minimum payments. Your Needs bucket holds everything you absolutely must have to survive-the basics. Not sure how much budget for housing or transportation? Follow these guideposts ( and stay inside the 50% bucket cap )

Housing (including utilities)...................................................... 25-30%

Food (basic groceries)......... ............................................... 5-10%

car (including insurance and gas)...................................................... 7-10%

Medical (including health insurance)................................................ 5-10%

Work-related expenses ( including child care).................................. 5-10%

Minimum debt payments (credit cards and personal loans............. 2-5%

WANTS 30%

Clothing,Entertainment,vacations, Restaurants

SAVING & INVESTMENTS 20%

Emergency Fund,retirement plan, Extra debt payments

Fallow us 
  • LinkedIn Social Icon
  • Instagram Social Icon
  • Facebook Basic Square
  • Twitter Basic Square

954-662-2326.

Speedy Credit Reports 

37-08 SW 59TH 

Davie Fl 33314