#PERSONAL BUDGET CHART HOW TO#

How to Analyze Your Monthly Budget (and Create Your Own) The budgeting app is 100% free, syncs your transaction automatically, and also allows you to track upcoming bills. Truebill, which is both a budget tracker and a bill cutting service, has a very clean and user-friendly budgeting app. The goal is to get the actual results, showing exactly what you spent down to the dollar.ДЇree Budgeting App Recommendation: Truebill Budget & Bill Tracker.

#PERSONAL BUDGET CHART PRO#

However, in order to sync your transactions automatically, you have to pay for the pro version (which costs $99 a year). Dave Ramsey has the EveryDollar budgeting app.

#PERSONAL BUDGET CHART DOWNLOAD#

Use a good, free budgeting app,В and have the app automatically download the past transactions.

Look at last monthвЂ™s credit card statement(s) and insert the data into a good budget template.

For example, compare what you think you spent on eating out last month to what you actually spent at restaurants. For a quicker experiment, try just one category. A fun exercise to see how this bias works in practice is to estimate your current monthly expenses, then compare that estimate to the actual data. It means that we tend to answer questions about ourselves in ways that are socially desirable. The emphasis is on actual because research shows there is a vast difference between what we say and what we do. The idea is to use these budgeting categories as a way to analyze your current monthly budget.ДЄs such, the first step to making these budgeting categories useful is to compare them with your actual current spending. GET FREE ACCESS Dave RamseyвЂ™s Household Budget Percentages Analysis WhatвЂ™s important is developing an individualized budget that works for you and your family.

The specifics of your personal financial situation donвЂ™t have to match up perfectly with this chart. On the other hand, my transportation expenses are much lower than average since I work from home and have two paid-off cars. And with a child in preschool, so are my education costs. As IвЂ™m self-employed, my health insurance costs are very high. Using myself as an example: I prefer to save much more than 10% of my income. And some peopleвЂ™s expenses just might not fit within these guidelines, such as school supplies if you have children or alimony if youвЂ™re obligated to pay it. There are other budgeting categories you may want to include, and other ways you may want to classify your expenses. Also, according to Ramsey, you shouldnвЂ™t start saving for retirement until you have a fully-funded three-month emergency fund.ДЄnother note is that these spending categories are just one way to organize your budget. That requires minimizing your expenses in other categories (as well as making more money) and putting everything you can into paying down your debt. Ramsey recommends putting as much as possible towards your non-mortgage debt, such as student loan payments, personal loans, or credit card bills. What about debt? One category missing from the list above is personal debt. Miscellaneous - The вЂњstuff you forgot to budget forвЂќ category.Personal spending - Personal care, haircuts, Amazon purchases, clothes, shoes, home furnishings, home decor, etc.Any lifestyle expenses, such as gym memberships or kidsвЂ™ activities, as well as entertainment expenses like Netflix, Hulu, sporting events, concert tickets, babysitters, and travel. Auto insurance and home insurance is placed within transportation and housing categories. Insurance - Life insurance, health insurance, and disability insurance.Health - Medical and health care bills (not including health insurance premiums) such as co-pays for doctor visits, prescriptions, and dental care.Transportation - Any and all transportation costs, including public transportation, car insurance, oil changes, car payment, gas, DMV fees, and parking.Housing costs - Rent or mortgage payment, along with property tax, home or renters insurance, home maintenance, HOA fees, and PMI.Utilities - Cell phone, cable, internet, gas, and electricity.Food - Includes both grocery shopping and eating out.Saving - Saving 10% of your income for retirement, which ideally is within a 401(k) or IRA.Giving - Ramsey recommends giving 10% of your monthly income to worthy causes.HereвЂ™s a breakdown of each category, based on Dave RamseyвЂ™s advice:

Personal budget chart