i just like ur threads and data you always keep presenting us
:hap2: keep going bro , u make awesomenesssssssss of MR Panda look small
:hap2: keep going bro , u make awesomenesssssssss of MR Panda look small
Is this a good expenditure budget?
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If not for the absolute figures in one post, I would have thought this thread was going to be sane for a while. In any case, your equal allotment to rent, food and transport is beyond me. Sure it goes on a case to case basis, however, for most people (read middle class - not your definition of it as on your blog, but the normal middle class), rent and food take up the largest, in that order. Next is transportation. Rest everything depends on whether there really is anything left. 20% savings a month is almost Utopian
A home budget will not work on percentages. Similarly, just 'coz it is dynamic or volatile as some have mentioned, it does not mean that you do not make budgets at all. You need to make a realistic budget with estimates for each month, and try to stick by it. What will take 10% of my monthly salary, will probably just take 5% of your monthly salary; so there is no point in generalizing.
BTW, I do not agree with the idea of giving the entire salary to your lady of the house and then forgetting about it. It never works that way. A home should be run both by the man and the wife; you can prioritize your expenditures only when you discuss stuff with your wife and then both together sit and chart out the budget.
BTW, I do not agree with the idea of giving the entire salary to your lady of the house and then forgetting about it. It never works that way. A home should be run both by the man and the wife; you can prioritize your expenditures only when you discuss stuff with your wife and then both together sit and chart out the budget.
I have already added all that.
Education is from savings.
Rainy day is from savings.
Household help is from misc so is philantrophy.
Entertainment is either misc or additional expenses or at times a part of outings/food/leisure etc.
House maintenance and furniture is with the total house budget, 15% includes everything.
Just like 15% for car includes all your cars, insurance, maintenance, petrol, other transport means, repairs etc.
When I says misc/additional, then drivers/servants/every possible expense fits.
Travel was very significant, so if you fall short, you can just make it 3-4% and put 1-2% to leisure etc and you are done for the year.
Education is from savings.
Rainy day is from savings.
Household help is from misc so is philantrophy.
Entertainment is either misc or additional expenses or at times a part of outings/food/leisure etc.
House maintenance and furniture is with the total house budget, 15% includes everything.
Just like 15% for car includes all your cars, insurance, maintenance, petrol, other transport means, repairs etc.
When I says misc/additional, then drivers/servants/every possible expense fits.
Travel was very significant, so if you fall short, you can just make it 3-4% and put 1-2% to leisure etc and you are done for the year.
The best method I found was. You set a certain percent of your salary as Savings. Say 20% of 1lac. Put that into another account or FD the second you get the salary. Rest you spend however you want. If there is any balance in that month transfer that also into your savings.
Now out of these savings you move a certain percent for Long Term Invstments & keep a certain percent on Short Term highly liquid like Savings A/c or FD for emergency purposes.
Now out of these savings you move a certain percent for Long Term Invstments & keep a certain percent on Short Term highly liquid like Savings A/c or FD for emergency purposes.
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