Household Budget Percentages of the common household budget looks like America, the list below of household budget percentages. For most of the categories displayed range for to be rich. A range makes more sense to help you see what suits your personal budget (or do not match.) If your budget does not match the typical American family budget.
Budget to increase the average American family - we are carrying too much debt and we do not save enough for create household budget percentages. We are very concerned about our neighbor's new pool, the new car is our colleague and our new designer shoes have a friend who spend more than we can try to follow it. But do not worry! Make sure that the Household Budget Percentages below, compare your family budget, then read on to learn how you can go to the elite group of the minority of Americans have learned where their money goes.
Budget to increase the average American family - we are carrying too much debt and we do not save enough for create household budget percentages. We are very concerned about our neighbor's new pool, the new car is our colleague and our new designer shoes have a friend who spend more than we can try to follow it. But do not worry! Make sure that the Household Budget Percentages below, compare your family budget, then read on to learn how you can go to the elite group of the minority of Americans have learned where their money goes.
Household Budget Percentages typical house
Housing 33-38% (59% -66% of those in a shelter - mortgage interest, property taxes, repairs, leasing, and other elements)
Transport 15-19% (up to half of it is the purchase of vehicles - two cars per family on average)
13-14% Food Budget (in 55%, 45% discount)
Alcohol 0-2%
0-3% of tobacco and related products
0-2% of caffeine related products
4-5% in services and related apparel (Dry Cleaning)
4.5 to 6% pocket health care
9% Personal insurance and pensions (scale: 1% and other private insurance, social security by 7.5%, 0.5% of investments
Show the 5%
2.5% of charitable donations
2% of reading and education
1% of personal care products and services
Other 2%
Credit Cards 4% interest on consumer credit
If your budget is very suitable for the above, here's what you can do to solve the problem. It is in order. Do not go to the next step until you have discussed the current measures:
1. You stop using Credit Card!
2. Make the budget down and dirty right now! Do not worry about the good things first ... You can perfect over time. Just do it!
3. Reducing easy to identify, frivolous spending habits (3 lattes dollar, magazines, over 450 satellite channels, etc.) If you have some expensive habits you want to stop for a while ', now is the time. For example, if you're a drinker, drinking coffee 'chain suck' stupid ', you can collect a windfall up to 7% or more of your profits! Only reduced to two drinks per day, drink only coffee house and leave the cigarettes will net a nice amount of extra money and add years to your life! Improve your budget, then you can leave.
4. Reduce payments 401K and your investment (if you have one) to the minimum allowed to keep the 401K and / or investment accounts open. If your employer has a corresponding action plan, remember to keep it above the minimum investment to open an account (but only for a minimum you need to get all the money in the game.) Returns an integer will be collected much more to pay the debt you can expect to obtain fairly traditional investments. If you pay for college fund for your child - will continue to do so - and if you really want, go to step 6. To bring the budget with the additional income, if any.
5. Create an emergency fund of 2% of annual income is obese. It should be a little 'difficult to access (as a separate account or analysis of mutual funds), but not too difficult (certificate of deposit). It works with your budget - it is very important. You will not believe the amount of stress to melt away when you do.
6. Pay your debts - all except the mortgage. And not just move your mortgage debt rotating in a second or third - is bad. Pay to use the system faster debt repayment. Repayment student loans (for future reference, it is a bad idea). Pay your car (s) too. If you are not ready to drive upside down (the car is worth more than they should have) you can sell and get more expensive, paid for the car. Take a small party (cheap, but fun) for you and your family when you repay the debt.
7. Take all the money you spend to pay for your non-mortgage debt and start putting it in an investment account that you enter the unemployed. Be sure to invest at least 10% of income obese. If you followed steps 1-4 correctly, you should have plenty of leeway in your budget now. If this is true and want to invest more than 10%, if you please, but be sure to reward you as well and live a little. ' Increase emergency fund to a level you feel comfortable with (2 months or more of income is a good start.) If you have young children and want to send them to school, start putting the money to fund your college of choice them if they do not. Having a party more than usual when it's done.
8. Pay your mortgage and your party even bigger! You can start in this direction, the refinancing of a loan only in a fixed-rate mortgage (must be well enough after paying all the debts of others.) If the 30-year mortgage, pay more on your monthly payment significantly reduce the amount of interest that you give to the bank. If the fixed 15 - to! It 'very good!
9. When you are completely debt-free, regularly give what you think you can afford. And 'good for the soul!
Easy! No. It? To the top of the dividends in your life in many ways more than dollars and cents. It provides a financially secure and dignified retirement. Doing it well and you can also pave the way for your children and grandchildren to enjoy a prosperous life, and I remember with love and respect long after you move the other way for Household Budget Percentages. Now it begins!