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Is there any way I can compare my budget with others?

Date: Thu, 11/09/2017 - 21:43

Submitted by BobDias
on Thu, 11/09/2017 - 21:43

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Total Replies: 5

Is there any way I can compare my budget with others?


I want to plan a realistic budget but how will I know whether or not my plan is ok? Is there any way I can compare my budget with others?


follow the 50-20-30 budgeting Rule.

50% of your income should go for living cost and essentials including your rent, utilities, groceries and transportation for work.
20% of your income should go to achieve financial goals including savings, investments, and debt-reduction payments.
30% of your income is for flexible spending like trips, entertainment, celebration etc.


lrhall41

Submitted by Sanders Patricia on Fri, 11/10/2017 - 04:47

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Yes, there are websites that let you compare your budget with others.
Try a simple logic to start planning your budget. Try to save about 20% of your income and plan your expenses accordingly. Remember one budget doesn't last for long. You have to revisit and modify from time to time even if you plan a realistic budget at the first try.


lrhall41

Submitted by Good Nelly on Fri, 11/10/2017 - 04:34

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Budgeting apps are there. You can use them to get an idea. Just read the reviews of the apps before installing on your smartphone.


lrhall41

Submitted by SC on Mon, 11/13/2017 - 00:18

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