BUDGETING

RECOMMENDED PERCENTAGES I have used a compilation of several sources and my own experience to derive the suggested percentage guidelines.  However, these are only recommended percentages and will change dramatically if you have a very high or very low income.  For instance, if you have a very low income, your necessities percentages will be high.  If you have a high income, your necessities will be a lower percentage of income, and hopefully savings (not debt) will be higher than recommended. ITEM          ACTUAL %  RECOMMENDED % CHARITABLE GIFTS                                                10-15% SAVINGS                                                                      5-10 % HOUSING                                                                    25-35% UTILITIES                                                                    5-10% FOOD                                                                            5-15% TRANSPORTATION                                                  10-15% CLOTHING                                                                    2 -7% MEDICAL/HEALTH                                                     5-10% PERSONAL                                                                   5-10% RECREATION                                                              5-10% DEBTS                                                                           5-10% Printed with permission from THE TOTAL MONEY MAKEOVER by Dave Ramsey Monthly Budget Month Budgeted Spent Tithes & Offerings Groceries Payments Car/Transportation Gifts Personal/Clothes Miscellaneous Recreation Health School  Unexpected Total      $   $  Over Under Tithes & Offerings Groceries Payments Car/Transportation Gifts Personal/Clothes Miscellaneous Recreation Health School  Unexpected