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Finance For Dummies

Finance For Dummies offers personal finance information on investing, retirement investing, finance, insurance, credit cards, loans and more. Personal finance education is our goal.

Sunday, May 28, 2006

Budgeting

Some words to the wise about where your money goes:

NEEDS should take up about 50% of your budget
  • Mortgage or rent
  • Car/health/renter's/homewoners insurance
  • Groceries
  • Taxes/property taxes/sales tax
  • Student loans (this is one loan you can never get away from)
  • Child-support/alimony
  • Contractual payments
WANTS can take up 30% of your budget
  • Cable/Dish TV
  • Alcohol
  • Dining out
  • Non-essential food
  • Haircuts
  • Magazines/newspapers
  • Vacations
  • Babysitters
  • Recreational fees and gear
  • Presents
  • Entertainment
20% should go to SAVINGS
  • Retirement contributions
  • Other investments
  • Mortgage and car payments over minimum
  • Money markets
  • Payments against credit card debt

1 Comments:

  • At 6/13/2006 4:38 AM, Anonymous Rick J said…

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    Take a look at Wallstreetwinnersonline.com

    RickJ

     

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