How to Budget Money
Initial Allocations and Percentages

Congratulations for trying to figure out how to budget money.

Budgeting is in itself not that complex. The challenge is getting a workable system in place and then being disciplined enough to stick with it.

At Financial Freedom Trail, we are committed to teaching you everything about personal finance and successful money management. Not only will we teach you how to budget, but we will also show you how to reduce debt and spending and how to make more money.

(Budgeting is more fun if you have more resources to manage. We will show you some good ways to do that.)

Financial Freedom teacher and expert, Dave Briggs, will walk you thought the money management and budget process.

Click here to learn the first steps of how to budget money.

How to properly allocate their money is often puzzling to people trying to learn how to budget money.

It is a good idea to initially record ALL (yes, each and every one) your expenditures for 60 days.

Then you will need to know initial recommended percentages for your income allocation.

Suggested Budget Allocation Categories and Percentages

As a starting point, try these percentages for allocating your money:

33% -- Housing
16% -- Food
16% -- Transportation
5% -- Clothes
5% -- Debts
5% -- Medical
8% -- Entertainment
2% -- Gifts
5% -- Insurance
5% -- Miscellaneous

Try these for a month or two and then adjust as necessary.

Work in percentages initially, not just dollar amounts.

The total percentage must always add up to 100%.

If you are wondering how your budget category expenditures compare to the national averages, you can find out by clicking here.

To help you, we have provided free, helpful money management forms. One of them is a budget/spending plan worksheet that has these recommended amounts included on it.

Click here to access your free budget forms.

Or, if you prefer to try an excellent online program, check out this Online Personal Budgeting - FREE 30 day trial program.

If you do not want to budget online, there is some excellent, simple software that shows you how to budget money. It comes with lots of training and a free 60 day money back trial.

This is what the webmaster's family personally uses, but you can hear what others are saying about it here.

This company also offers a free 10 day email course on budgeting your money. Click here for your free budget course.

How to Budget Money Initial Allocations and Percentages

Suggested Budget Allocation Categories and Percentages

How to Budget Money
Initial Allocations and Percentages