The trees are green and the flowers are blooming, but a cloud is forming and it quickly approaches. Does one have enough income to weather the storm of debt?
In this budget, one can put 50% of ones income towards weathering the storm. This is how it works:
10% to tithe. This is a must.
10% to savings. This is ones $ one has earned it and keeps it for the distant future.
10% goes towards spending on others as in gifts.
20% is for monthly expenditures like gas, food, and insurance. Twenty percent is what one lives on for the month.
50% is allocated towards paying off the cloud if debt as in credit cards and loans.
One can play around with the numbers to make it work out for he self. But this is a good model to follow. If one uses 5% or 15%, it may not be as simple and clear cut as 10%.