How much should I budget for...

iVillage Member
Registered: 10-16-2007
How much should I budget for...
1
Wed, 05-19-2010 - 7:19pm
Hi,
I recently sat down and went thru my last months bank statements in effort to see where my money is going. Well I found that my money is going to alot of unnecessary things! I am now going to start a budget, but I'm not sure how much to budget things for.
Can someone give me some ideas on how to get started?
Thanks Liz
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iVillage Member
Registered: 12-04-2006
Thu, 05-20-2010 - 1:53am

Hi Liz,
We have a thread "Getting Started" that Colleen (cl-snappynina) posted a chart with percentage guidelines for budgeting.

Here's the link to the thread http://messageboards.ivillage.com/n/mb/message.asp?webtag=iv-mljournal&msg=4746.1&x=y

Ultimately, as costs are different everywhere only you can be the best judge of what you need to budget. The chart I've attached the link to will also help to know what to include that you haven't thought of.

I'm not sure what you have spotted in your tracking of spending that you consider unnecessary, but I would recommend that you do include some spending money (sometimes referred to on the Debt Support Board as blow money) so that you can make small purchases for yourself occassionally that don't break the budget. For me, my spending money is for things like a chocolate bar or icecream from the corner shop, coffee if I want one, that sort of thing.

Lyn

Lyn