My Budget
This is the actual budget I use. Below the sheet, I'm working on breaking down some different areas of the budget. Whatever questions you have, send me an email at ben@quidbuck.com!
Budgets are the magic 8-ball into your future financial health. With a transparent & honest budget, you'll be able to see how your spending habits impact your financial health.
Try mine for free: Quid Buck Budget
Replacing my prompts for yours, you can track your spending and ensure you're saving more than your spending - the only way to make money.
Categorical Spending:
Budgeting websites recommend spending 50% of your after-tax income on needs, 30% on wants, and 20% on debts and savings. I only agree with the part about keeping your debts below 20% of your after-tax income. I try and keep mine below 28% to look good to lenders; 20% pushes that even further.
You'll see my actual spending budgets in dark green against the light green suggestions.
I'm fortunate to have enough income to minimize the percentage of my budget allotted to needs and avoid letting my lifestyle get more expensive with my income. We call this practice of preventing lifestyle creep "living beneath your means."