Comments on: Pay Attention to Your Money

By: finance

finance — Thu, 09 Jul 2009 19:29:59 +0000

I think most of my money goes towards bills and helping other people out, plus some fun. I’d say mine is about 70% mine or other’s bills, and 30% fun. I haven’t been saving; it’s something I REALLY need to do! The economy is so bad though, it’s hard for my boyfriend to keep a job, so I end up helping him out with bills when his unemployment doesn’t cover it. I feel like I’ll never get ahead. There’s always my student loan and his huge debt. When will we ever get on top and start saving?

By: Go

Go — Fri, 03 Jul 2009 16:03:27 +0000

Good Stuff. I can incorporate that in my budget! Thanks hun!

Sincerely,

Go.

By: Emma

Emma — Wed, 01 Jul 2009 11:39:06 +0000

I also don’t have a strict plan with percentages.

My student loan repayment varies, but my goal amount each month is around 40% of my income each month – some months it drops down to between 20 and 30% (usually when it’s gift time/occasions – such as this month where I have to get a wedding gift for my brother and I’ll need to dress appropriately, etc).

My living costs (rent, food, cable, etc) are shared, and my portion is around 40% of my income as well.

My transportation is a mere 5% (I use a bus pass).

My savings were 10%, but now I’ve reached my goal, and plan to drop the savings to 5% (my emergency fund is at 10 months) and put more against my loan.

My “fun” money (entertainment, shopping, and miscellaneous things that crop up during the month) tends to hover between 5 and 10% of my income, but any amount that I don’t use before the end of the month goes into my savings.

And then with the “bonus” pay cheques that aren’t part of my budget, one will go to fun, the other goes to my savings/loan (that’s also where my tax return goes, when I get one; next year will be the last return). For me, the “fun” means a cheap vacation, possibly new clothes – last year I went to Cuba and will probably return again in September. $650 (inc. taxes) for all-inclusive, including flight, accommodations and meals/drinks is an excellent deal, and leaves me with extra money that I can use for excursions off the resort, and tips.

By: Sense

Sense — Wed, 01 Jul 2009 10:33:50 +0000

um, that was supposed to be ‘”living” as frugally as possible.’

By: Sense

Sense — Wed, 01 Jul 2009 10:32:28 +0000

I don’t have a strict percentage wise budget, but I strive to save 50% of my take home pay every month. About 40 to 45% goes to bills/needs (medical/ electric/ internet/
rent/ groceries/ cell phone/ charity) and whatever is left goes to fun (eating out/misc).

In June, I saved 46% of my take home pay, spent 42% on ‘needs,’ and had about 12% of fun. :) FYI I can’t legally contribute to any retirement schemes so I’m trying to make up for that lack of savings, plus I just like the idea of leaving as frugally as possible.