Balanced money formula - how do you measure?

(7 Posts)
nkf Sun 10-Feb-13 16:38:50

Well done, you. My savings are not enough and my fixed expenses too high.

Mum2Fergus Sun 10-Feb-13 08:22:58

Im not too far off the mark...must make a more conscious effort with savings though.

nkf Sat 09-Feb-13 13:38:37
nkf Sat 09-Feb-13 13:37:40

Still can't do it.

nkf Sat 09-Feb-13 13:37:20

[http://www.getrichslowly.org/images/GRS/BMF-handout.pdf]]
[

nkf Sat 09-Feb-13 13:37:05

{http://www.getrichslowly.org/images/GRS/BMF-handout.pdf}

nkf Sat 09-Feb-13 13:36:35

http://www.getrichslowly.org/images/GRS/BMF-handout.pdf

I found this really interesting. It's a formula for managing money. Not a budget. Basically, the authors say you should aim for 50, 30, 20. No more than 50% of your income on needs, 30% on wants and 20% on savings.

I applied it to my finances and I am sadly out of wack.

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