- Giving- 10% - Saving- 10% - Food- 10-15% - Utilities- 5-10% - Housing- 25% - Transportation- 10% - Health 5-10% - Insurance 10-25% - Recreation 5-10% - Personal Spending 5-10% - Miscellaneous 5-10%
Giving is a part of Dave’s budget because he believes that our focus should not be on money but on what we have so we give to others.
People should have saving goals that are a part of their budget. Maybe it is to help with debt payoff or to have some fun money for a trip.
Food is the part of the budget that is for eating out or eating in. We need to budget a certain amount of food for each month.
Utilities are straightforward. It is the amount of money you spend on electricity, water, internet, and even trash take out. Please take a look at these costs and factor them into your budget.
Dave Ramsey recommends making sure to calculate everything. That is a mortgage, rent, HOA fees, insurance, and even maintenance on the housing.