Saturday, December 10, 2005

 

Budget with a Twist

Here's a story about a man who got tired of the "anal-compulsiveness" of budgeting and tracking all those monthly expenses. Instead he divides his monthly budget into 4 categories and allots accordingly. Committed expenses (rent, utility bills etc) are given 60% of his income, irregular expenses (vacations, repair bills), long term saving/debts, and retirement are each allotted 10% of his income. He can spend on anything he wants as long as he doesn't exceed his allottments. Its an interesting take on budgeting, maybe if I can ever get my committed expenses down to 60% of my income I'll try it out.

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