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This is optimal finance daily episode 1210 should you budget your money using

percentages by kimico of the budget mom dot com and I am Dan I am your host and

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Should you budget your money using percentages? By Kameko of the Budget Mom.com.

One topic I'm frequently asked about by readers is percentage budgeting.

There are a lot of articles out there that give you a very clear outline of where you should be spending your money and what percentage of your take-home income should be spent on predetermined categories, like saving, debt pay off, and required expenses.

For example, Dave Ramsey recommends 10 to 15 percent on food, 25 to 35 percent on housing, 10 to 15 percent in savings, and 10 to 15 percent on charitable giving.

Another example is Elizabeth Warren's book All Your Wirth.

She suggests people spend 50% on required expenses, housing, food, utilities, transportation, etc.

30% on wants and 20% should be spent on paying off debt or saving.

Both of these examples make sense on paper, but the real question is,

does using these types of percentage restraints really work?

Prose of percentage budgeting.

Percentage-based budgeting is simple.

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