The hardest part of setting a budget is getting started. After all, it’s a task that comes with a lot of baggage. Sure, sweeping the floor or making the bed might not be enjoyable. Still, at least it’s not likely to send you into an existential spiral that makes you question your past, present, and future, as well as your self-worth, the meaning of life, why the sky is blue, why the world is round, et cetera.
Frequently Asked Questions
The answer to this question is personal! Instead of dollar amounts, let’s answer with a percentage. According to the popular budgeting philosophy of the 50/30/20 rule, 20% of your income should be spent on savings and debt. So, depending on the amount of debt you have, you should be putting up to 20% of your income towards your saving goals.
We’re glad you asked! In today’s technologically-driven age, it makes sense that “there’s an app for that”. Check out our review of the best budgeting apps.
What is this question doing here? Everyone knows that this refers to when you drop a french fry on the floor and pick it up right away. We kid — in the financial world, the “10-second rule” instructs you to close your eyes and count to ten before you make any purchase.