![]() If you freelance, or run your own business, your income might be too irregular for such a hard and fast rule. For example, people living in cities like New York or San Francisco, may need to spend almost their full paycheck on rent. Ramsey uses a combination of income percentages and set figures drawn from national income averages to determine his recommendations. Make Money Save Money Manage Your Money Budgeting Investing The Only Three Budget Categories You Need to Stick to Your Budget. The fact is when it comes to expenses one size doesn’t fit all. See the 3 main budget categories you need for a simple budget youll actually stick to - plus the best budget categories percentages for you. In fact, we spent almost nothing on clothing, entertainment, and household items. Dave Ramsey’s Recommended Budget Categories. However, you can probably see from my debt free budget breakdown that we spent only 1 on clothing. While it might be easy to remember, the rule isn’t always easy to live by. The recommended Dave Ramsey clothing budget percentage is 2-7. If the 50-20-30 budget doesn’t fit your lifestyle, try one of these instead. The 50-20-30 rule is a money management technique that divides your paycheck into three categories: 50% for the essentials, 20% for savings and 30% for everything else.ĥ0% for essentials: Rent and other housing costs, groceries, gas, etc.Ģ0% for savings: Savings accounts, retirement contributions, loans, credit card payments, etc.ģ0% for everything else: Nonessential expenses like clothing, restaurants, monthly streaming subscriptions, gyms, etc.
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