How to Use Dave Ramsey Budget Percentages to Make a Budget

Having a budget is a great place to start to figure out where your money is going.  The self-proclaimed guru, Dave Ramsey, has once again worked on making budgeting easy with his budget. He came up with his version of budgeting called The Dave Ramsey Budget Percentages.

The Dave Ramsey Budgeting Percentages.

– 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%

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Household Budget Categories Descriptions:

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Are These Categories Realistic? Dave Ramsey tried to make a budget simple for people. It works. Each person is different, and it fails to cover things we need in a budget like debt payments and retirement savings.

What about Debt Payments? Debt repayments should come before some things. An easy way to get rid of debt is to stop spending money.

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How Much Should You Save? In the Dave Ramsey Budget Percentages, he says to save 10%. Well, I hate to be the bearer of bad news, but 10% is not enough to save for retirement. Dave Ramsey advocates to save 15% for retirement., but the Dave Ramsey Budget doesn’t account for this..

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What About Other Budget Systems?

There are other budgets out there that people can take a look at. Each system is different and provides opportunities for others to create a budget that works for them.

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