In this last episode of this series, we break down the main budget categories, Child Expenses, Personal, Saving, and Giving, and identify what expenses you should include in these four areas of your budget. We'll also share simple yet powerful tips on how to save money and manage each of these expenses so you can budget more successfully.
Main Category - Personal
- Health Insurance / HSA / Life / Disability etc.
- Out-of-pocket health expenses / Medical Savings Envelope.
- Cell Phone.
- Consider using a tier 2 phone carrier to save on phone plans.
- Save for upgrades.
- Avoid phone leases.
- Hair Care.
Main Category - Child Exp - Average of 0-9% of Net Income.
- Private school tuition.
Main Category - Saving - Average of 5-15% of Net Income.
- Emergency Fund - first, then...
- Non-traditional investing.
- Real Estate.
- Business (franchise) - no personal involvement.
Main Category - Giving - Average of 5-15% of Net Income
- Non-profit organization
- Passion projects
- Relief Help
You can access these and other resources on my Resource page.