Early last year I found another way to assess my budget: The 50-30-20 rule. I plugged in my numbers and was quite happy with my allocation. This year I opted to do it again with my proposed 2017 budget. Here’s what it looks like:
The drastic change in the essential line is because previously it included the minimum payment of my debt. With no debt my essential costs are down!
My lifestyle cost is up as it takes into account my singing lessons. I’m having fun doing the lessons and meeting people so I feel like it’s a great cost and it’s nice to see that I’m still within the recommended guideline.
That increase in my Future category makes me feel great! Since I still don’t budget with my entire pay once my top two categories stay within budget I may be putting a tiny bit more into future than reflected here.