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How will I know that this is the most suitable budget for me?

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Is there anything called as the most suitabgle budget? Is there any percentage or amount that I need to save per month to call it as a successful budget?

I have heard that one should try to save at least 20% of income.

Sub: #1 posted on Fri, 07/07/2017 - 05:11

Mabelle Page Mabelle Page

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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.

Sub: #2 posted on Fri, 07/07/2017 - 05:48

Good Nelly Good Nelly
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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.

Sub: #3 posted on Fri, 07/07/2017 - 06:26

Sanders Patricia Sanders Patricia

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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.

Sub: #4 posted on Fri, 07/07/2017 - 06:54

Barbara Delinsky Barbara Delinsky

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Fixed expenses include - mortgage payments, car payments and utilities.

Flexible spending include: hobbies, gas, eating out, groceries

Sub: #5 posted on Tue, 07/11/2017 - 22:29

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