Ladies, there is a reason behind the monthly salary that always runs out prematurely. This is because you haven't figured out how to properly divide your income. However, understanding the flow of money and making the right monthly budget is the key to healthy finances. Here is the right income-sharing way to keep your financial condition healthy.
40% for house
costs The cost of paying installments or renting a house is arguably the biggest expense. Experts recommend allocating 40% of your monthly income to housing. We recommend that the cost of housing, including paying bills for electricity, internet and cable TV, is no more than 40% so that you still have enough money to save in the future.
10% for Transport
Whatever transportation is used to go to work, try to make the transportation costs needed only 10% of your income. If using a private vehicle, calculate the costs required for parking, vehicle maintenance, and insurance. When using public transportation, make a careful budget so that transportation costs do not swell.
5% for Health
You really can't put a price tag on health matters. However, setting aside income for health is important. When making a budget for health, there are three things you should pay attention to, namely the cost to pay for health insurance, the cost for drugs and routine check-ups, and unexpected costs when you suddenly fall ill. The right amount for medical expenses is 5% of your budget.
20% for Food
Not infrequently the most extravagant monthly cost is food. Whereas 20% of monthly income should be enough to meet your food needs. The best thing to keep food costs down is to make a menu every week and be disciplined to implement it. Besides being more efficient, you can also have a healthier diet.
10% for Credit Fees Credit
payments can sometimes be tricky when calculating a monthly budget. However, set aside at least 10% for your credit card charges. If you have a larger debt, make an aggressive budget plan so that it can be paid off immediately. If you don't have it, put the money in your savings.
10% for Savings
Stop the habit of spending all your income without saving because saving is one indicator of healthy finances. At least set aside 10% of your income for future savings. Choose the most appropriate investment according to you so that you are more comfortable saving.
5% for Fun!
Of course you have to budget for fun. Reward yourself by spending money on something you enjoy. However, make sure not to exceed 5% of your income, okay?
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