So here it is:
Rent/Bills: 22%
Retirement: 10%
Car Fund: 8.3%
Internet: 1.6%
Food: 4.4%
Long-Term Cash: 32%
Giving: 5.5%
Phone: 1.4%
Spending: 14.7%
I also use 8% of my Gross Annual Pay to buy Shares in my Employer to avoid paying Income Tax - I have to hold them for 3 years before I can sell. This 8% isn't included in the percentages above as they relate to my monthly take-home pay.
So pretty happy with it overall. The only one I feel a bit guilty about is the 5.5% Giving - I had previously said I wanted to give 10% - but 5.5% is a good start. I only have 14.7% to use on discretionary items which is not a lot - but we'll see how we get on.
Every week I work now, I know that 50% of my money is going to my long-term Financial stability - with an additional 8% going to running current car/buying next car.
Also I'm going to try putting 50% of any additional monies I get (e.g. Overtime, Tax Refunds) into Long-Term Cash and 50% in Discretionary Spending/Slush Fund.
I would like to have 50,000 euro in Long-Term Cash by the time I'm 35 - for a reason I'll go into another time - 4 years to achieve that - will see how that goes ! :-)
Debt-Free Budget in Practice
May 24th, 2010 at 11:51 pm
May 25th, 2010 at 12:47 am 1274744847
May 25th, 2010 at 05:54 am 1274763252