Skip to main content
index page

Is there any way I can compare my budget with others?

Submitted by BobDias on Thu, 11/09/2017 - 21:43
Posts:
Credits:
[Donate]

I want to plan a realistic budget but how will I know whether or not my plan is ok? Is there any way I can compare my budget with others?


follow the 50-20-30 budgeting Rule.

50% of your income should go for living cost and essentials including your rent, utilities, groceries and transportation for work.
20% of your income should go to achieve financial goals including savings, investments, and debt-reduction payments.
30% of your income is for flexible spending like trips, entertainment, celebration etc.


Submitted by Sanders Patricia on Fri, 11/10/2017 - 04:47

Sanders Patricia

( Posts: 1241 | Credits: )


Yes, there are websites that let you compare your budget with others.
Try a simple logic to start planning your budget. Try to save about 20% of your income and plan your expenses accordingly. Remember one budget doesn't last for long. You have to revisit and modify from time to time even if you plan a realistic budget at the first try.


Submitted by Good Nelly on Fri, 11/10/2017 - 04:34

Good Nelly

( Posts: 2846 | Credits: )


Budgeting apps are there. You can use them to get an idea. Just read the reviews of the apps before installing on your smartphone.


Submitted by SC on Mon, 11/13/2017 - 00:18

SC

( Posts: 3937 | Credits: )