On a Budget Series - Part 2: Recommended Percentages

Hello! I’m glad you could join me for Part 2 of my “On a Budget” Series. 

According to Dave Ramsey (financial guru) below are the recommended percentages guidelines for the major budget categories (these are also the percentages used in my budget and financial health tracking).

Item	Recommended %
Savings	5%-10%
Charitable Gifts	10%-15%
Housing	25%-35%
Utilities	5%-10%
Food	5%-15%
Transportation	10%-15%
Medical/Health	5%-10%
Clothing/Miscellaneous	2%-7%
Personal/Daily Living	5%-10%
Recreation/Entertainment	5%-10%
Debts	5%-10%

Source

To give myself a figure to strive for, I’ve taken the average of the recommended % and made that my goal % to focus on. Here are my goals:

Item	Goal %
Savings	7.5%
Charitable Gifts	12.5%
Housing	30.0%
Utilities	7.5%
Food	10.0%
Transportation	12.5%
Medical/Health	7.5%
Clothing/Miscellaneous	4.5%
Personal/Daily Living	7.5%
Recreation/Entertainment	7.5%
Debts	7.5%

I definitely have some areas to focus on. However, before I can work on the areas currently showing 0.0%, I need to free up some finances in the areas that exceed my goal %.

Feel free to join in if you’d like to share your budgeting tips and/or progress.

Check back tomorrow for “On a Budget Series – Part 3: Being Aware of Your Finances.”

Until next time!