How will I know that this is the most suitable budget for me?
Following 50/20/30 rule in
Following 50/20/30 rule in budgeting is advisable
50% of income the fixed cost
20% of income for savings goal
30% for flexible spending
Follow it, you will do better with your money.
Submitted by Sanders Patricia on Fri, 07/07/2017 - 06:26
To have to consider a lot of
To have to consider a lot of things to plan a suitable budget. try tosave at least 10% of your income when you're first trying to plan a budget. of course, you need to save e decent amount every month.
I have heard that one should
I have heard that one should try to save at least 20% of income.
Fixed expenses include -
Fixed expenses include - mortgage payments, car payments and utilities.
Flexible spending include: hobbies, gas, eating out, groceries
I agree with Patricia, 20-30
I agree with Patricia, 20-30-50 budgeting ratio is pretty sleek and that way you'll be able to kick in some good savings.