Financial Skills (Post 190)

Are you terrible at Financial Skills? Do you always spend every dime you make? Well, here's a list for your ten cent crazy book on how to always have plenty and balance your budget, or how to keep a budget if you don't know how.

Get out the calculator

First you must be able to figure out a percentage
so for an example lets say you make a thousand dollars a month take home pay
put 1000 in the calculator multiple x 35
your answer will be 35000
fine - put in the decimal point 350.00
35 percent of 1000 is three hundred and fifty bucks

Here's the list of how your money should be spent
Take the total of your monthly take home pay and multiple times the percentage

Rent 35%
Car 15%
Savings 10%
Sharing !0%
Food 12%
Insurance 5%
Fun 5%
Clothing 5%
Debt 3%
(Remember % total should always equal 100%)

If you're paying more than these percentages you're paying too much for how much money you make
Rent should include utilities - gas, electric, phone, water and cable anything needed for the home
Car should include - gas, repairs, oil changes etc.
Insurance should include car and home
If you don't fit into these percentages - don't worry about it - most people don't
Maybe your car is 20% fine make your savings 5%
Just figure out what you can afford to reduce and add to - but always try to remember what percentage you should be paying - the next time you buy something.
You can take the total that you can afford to spend on food, fun or clothing and divide it by 2 if you shop twice a month or divide it by 30 and figure out how much you can afford to spend daily - you will probably think twice about that five dollar cup of coffee or a ten dollar lunch.

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Keeping your own (carry with you) ten cent crazy book is easy - Read post 1-4 to find out how