Posted on August 27, 2012
The Entrepreneur magazine featured J.D. Roth who shared some helpful tips for budgeting your personal expenses.
The breakdown of mother-daughter team Elizabeth Warren and Amelia Warren Tyagi is this:
– 50% or less for needs
– 20% or more for savings
– 30% for wants
1) Forget perfection – “If you can’t get your money into perfect balance, get it as close as you can.”
2) Don’t sweat the small stuff – “It’s the big stuff that really counts. Be smart when you buy a house or a car, and you’ll have more room in your budget for fun.”
3) Keep it simple – “If your system of budgeting is a chore, you’ll never follow through.”
