Personal budgeting

Huskar said:

Hey all first post in a while...

On budgeting issue, in my opinion far easier to just allocate percentages of income to various "buckets" - that way you don't spend too much time or worry on it and kinda looks after itself.

Scott Page at Barefoot Investor actually has some real good tips on this.

For example take your after tax wage (weekly / monthly / yearly as you like) and allocate:

- 60% of your wage for those mundane expenses split into 30% rent, 15% food, 5% mobile / broadband, 10% car;
- 20% savings (some cash, the rest investing)
- 20% splurge! (holiday, beers, etc)

This way you don't have to worry about each line item.

Can even put it on auto pilot by getting wage directed to different accounts in those proportions. And if you are really good you up the percentage of savings (if only I was more disciplined)...

Click to expand...

Huskar said:

Hey all first post in a while...

On budgeting issue, in my opinion far easier to just allocate percentages of income to various "buckets" - that way you don't spend too much time or worry on it and kinda looks after itself.

Scott Page at Barefoot Investor actually has some real good tips on this.

For example take your after tax wage (weekly / monthly / yearly as you like) and allocate:

- 60% of your wage for those mundane expenses split into 30% rent, 15% food, 5% mobile / broadband, 10% car;
- 20% savings (some cash, the rest investing)
- 20% splurge! (holiday, beers, etc)

This way you don't have to worry about each line item.

Can even put it on auto pilot by getting wage directed to different accounts in those proportions. And if you are really good you up the percentage of savings (if only I was more disciplined)...

Ps haven't eaten any better meat than in Argentina

Click to expand...