This is How my Budget Looks Like Moving Forward
A budgeting speed run
I have started to take budgeting more seriously.
Here is how my budget will look like moving forward.
First 10% of my net income: Church
I am nothing without God and my church community. The church is a very important aspect of my life an deserves the first 10% of my income.
Next 15% of net income: Retirement
I don’t want to be working for the rest of my life. So retirement needs to be accounted for in the budget.
15% of each paycheck will go towards retirement.
After that, things vary depending on a multitude of factors.
Currently, expenses are low for me.
In the long run, they will increase. But for now, I am focused on making money and saving/investing.
What do I use to budget?
“EveryDollar” is a great application that is free and easy to use. The user-friendliness is what makes this my go-to budgeting application.
Like I said, it’s free!
Rule of thumb:
Before spending a single dollar of your paycheck, 10% should go to your church and 15% should go towards your retirement fund.
End of story.
Until next time,
— Donny
