Does A Budget Work?

A bank gave this breakdown on the net.  I’m curious to know how many of us use a budget.

You must be thinking, it’s December! “Nickie, you start a budget in January along with quitting smoking, dieting and of course, exercising!”

Well, I’m giving you a breakdown now, so you know what to expect in January.

You will question certain percentages (like I did!) but give it a try.  I have been using this format for a year.  It took a few months to get it going. Let me know how it works for you!

Date
Budget  Actual
25% Housing Taxes
Insurance
Repair/Maint
Other
subtotal
10% Savings
5% Services Electricity
Telephone
Cells
Other
subtotal
15% Trns/ption  Lease
 Insurance
 Gas
 Repair/Maint
 Other
subtotal
15% Food Groceries
Restaurant
subtotal
5% Ent/ment
5% Clothing
5% Health
10% Debt Rpymt
5% Personal
100% TOTAL
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4 thoughts on “Does A Budget Work?

  1. The most dreaded word in the English language:) My husband has started using it more often lately..ugh!!!!!!!!
    Yes Christmas/Dec is a busy and very expensive month so while we do set a loose budge for what we will spend, and try to adhere to it, we are a little more flexible during this month in particular. But with the building of our home having taken a life of its own….I am trying to “be good” and really stick to the budget as best possible. I think budgets are a necessary evil..to keep us in check and keep us from spending above out means. NOT a word i like to hear but one that is a practical and sensible way to live.

    • LOL! I’m telling you some percentages are questionable!
      My husband’s budget is as follows: “Don’t spend!” No, I’m joking!
      We have to keep the economy going. “Keep half, spend the rest.”
      Yes?
      *Renovations and Construction fall under a different category along with Vacations!

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