Dave ramsey monthly budget

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Dave ramsey monthly budget

It's no secret: We're LONG TIME Dave Ramsey fans. His books have changed our life, and we love being a part of an amazing personal finance community that's created some pretty awesome Inspired By Dave Ramsey budgeting printables. We're all helping each other WIN with money! If you're not familiar with his books, I highly recommend getting

started with Total Money Makeover. You can either buy it on Amazon or check it out at your local library. If you're looking for a complete, coordinated pack of budgeting printables, head over to my shop and grab the Budget Binder Toolkit. There are also some specific Dave Ramsey budget forms that are often used in his Financial Peace University

classes. They're so helpful! If you're in FPU, you may have seen these already. Something else that you'll find helpful is the meal plan that Dave promotes, emeals. If meal planning is a struggle for you, and you spend way too much money eating out because you're tired or short on time, then you'll want to check them out. Here's the direct link to his

"budget" plan on emeals. It includes a free trial period, and will save you time and money every week! It truly pays for itself. Give it a try. Now, without further ado, let's get started on this round-up! Related: 21 Awesome Dave Ramsey Budgeting Printables From Around the Web Monthly Budget Printable ? Bubbling Brook Budgets 12 Week Money

Saving Challenge Printable ? Bubbling Brook Budgets Monthly and Weekly Menu Planners ? Around My Family Table Meal Planner With Shopping List ? Pixie Dust Savings 7 Dave Ramsey Baby Steps Printable ? Bubbling Brook Budgets Budget Worksheet ? Penny Pinching Mom 52 Week Money Saving Challenge ? Saving Our Money Bill Trackers ?

The Artisan Life Food Expense Tracker ? Healthy And Lovin' It Meal Planning Ideas List ? Jillian Lifts Kilos Savings Goal Tracker ? Small Stuff Counts Clothing Tracker ? 5 Minutes For Mom Financial Goals Worksheet ? Living Low Key Debt Planning Sheets ? Meanwhile At Naptime Monthly Budget For Graduates ? Organized 31 Holiday Budget

Tracker ? Mission To Save Debt Repayment Plan ? Simply Stacie Christmas Savings Monthly Tasks Printable ? The Stress-Free Christmas Kids Clothing Tracker ? Busy Mom's Helper 52 Week Reverse Savings ? GSFF Disneyland Trip Calculator ? Pulling Curls Create Your Own Budget Spreadsheet ? Organizational Toast My Dave Ramsey Meal Plan

PDF ? Bubbling Brook Budgets Let's chat soon, New to my site? I love to share ways to get out of debt, save more money, and make budget meals from home. A few tools I recommend: Use a shopping portal like Ebates and save more money on everything you buy online. Get a $10 bonus when you sign up now. Give eMeals a try. This is the meal

planning service Dave Ramsey recommends on his show. For a small fee, they'll even send your meal plan and shopping list over to a local store (like WalMart!) and have your groceries ready for you to just pick-up and go. Click here to try it free for 14 days. I also highly recommend getting started with a pencil and paper budget, if you're not already

doing so. My printable Budget Binder Toolkit has everything you need to hit the ground running! Pin this for later: Have you ever asked yourself, how much should I spend a month? Well, Dave Ramsey has helped us with the answers to these questions with his recommended budgeting percentages. Dave Ramsey may not be everyone's cup of tea, but

he, without a doubt, made personal finances practical, easy to follow, and easy to understand. Which, for "non-finance", people is super enticing! One of the first times I remember hearing about Dave Ramsey was back when I was fresh from the nest and living on my own. I remember searching for "easy ways to budget money". While I knew

budgeting was important, I wasn't too sure about where to start or even what best practices looked like! Money can be hard. Budgeting can be hard. So what is the best way to manage your money? Let's jump into his basic budgeting bumpers (Alliteration for the win!) and plan for success with our household budget. Why Do I need a Budget? No

matter what your financial situation you need a budget. Budgeting is the financial roadmap for your life. You need a budget: If you are trying to pay off credit card debt or pay off any debt for that matter!If you are trying to cut back on spending money.If your living expenses are out of control and you need a better way to manage them. If you need

help trying to figure out how to best spend your paycheck every month. If you want help tracking your bills. I could probably list another 20 reasons off the top of my head? you get the picture. Budgeting helps to ensure you reach your financial goals! So, let's see what Dave recommends for your household budgeting percentages. Budgeting Your

Money with Dave Ramsey's Budget Percentages New to budgeting? Maybe you aren't new to budgeting, but have previously been unsuccessful? Dave's budgeting percentages are a great jumping off point to setting up your budget with how much you should pay every month. Dave Ramsey's Recommended Budgeting Percentages: Charitable Gifts 10?

15%Saving or Debt Repayment 10?15%Housing 25%Utilities 5?10%Food 5?15%Transportation 10%Clothing 2?7%Medical/Health 5?10%Insurance 10?25%Personal 5?10%Recreation 5?10% Giving Dave Ramsey really promotes giving. Whether it's through tithing, donations, or supporting certain causes? giving. If this is something you want to

prioritize, he recommends spending 10-15% of your total net income. Savings or Debt Payments There are a few reasons to save money: retirement, wealth building, covering emergencies, and irregular expenses a la Sinking Funds. The other side of this coin is getting aggressive with paying down debt to work towards becoming debt free. The first

step in Dave Ramsey's baby steps is building a $1,000 Emergency Fund before getting down to the business of wrecking your debt. Ditching your high interest debt and student loan ASAP. If you have no debt you will need to build your Emergency Fund up to cover 3-6 months expenses. Once you've covered your full Emergency Fund, you get to move

on to the wealth building. How much should you be saving? 10-15% is the recommendation, but depending on your goals, that may look a little different. One of my absolute favorite posts is from Mr. Money Mustache and his article about retiring early and the surprisingly simple math on how to do it. Super motivating! Food Food is often times the

area in your budget where things start to veer off course. Eating out gets expensive, quick coffees, vending machine snacks, all add up rather quickly. Dave recommends 5-15% of your budget goes to food. Cost of living, dietary restrictions, etc. should all be considered when coming up with where you should be on this spectrum for spending. Eating

in or eating out it doesn't matter as long as it's accounted for in this budget line. Utilities Utilities are things like your electricity, water, trash services, sewer, cell phones and cable/internet. Dave recommends 5?10% for all monthly utilities. Housing How much should I spend on rent? What kind of mortgage can I afford? Dave says, no more than 25%

of your take-home pay The housing costs covers your rent or mortgage plus property taxes, HOA fees and PMI. There are a few websites like Mortgage Calculator who make it super easy for you to see what you can actually afford. Just remember to include ALL housing expenses and to keep it below 25%. I live in a very high cost of living area and we

chose to live well below the 25% benchmark as it was an easy way to give us more wiggle room in our budget. Yes, we sacrificed a bigger place and our children are sharing rooms, but it's alleviated the stress of taking us to the ceiling of our budget! Transportation Transportation should account for 10% of your monthly income. Transportation covers

car payments, registration fees, maintenance, repairs, and gasoline. Depending on where you live this could also include train, bus or subway fare, as well as parking. Clothing The recommendation for a clothing budget is 2-7%. While clothing is a necessity, that doesn't necessarily mean it has to be expensive! Check out my list of over 100 money

saving tips-- clothing included-- for ideas on how to save yourself more money! Health Dave recommends allocating 5?10% of your budget to health expenses. Health insurance, medications, co-pays, all fall here. Depending on what life throws at you, this is one category that could see quite a bit of month to month fluctuations. In the event that their

is a significant health event, starting a sinking fund for medical expenses could be a great way to offset the uncertainty of health care expenses. Insurance There is absolutely nothing sexy about insurance. It feels about as satisfying as buying socks. However, it is an absolute must! The recommendation here is to keep spending here between 10-25%.

Auto insurance. There are a few states that don't require auto insurance, but most do. Help protect yourself and your assets with auto insurance. Homeowner's & renter's insurance. All of your worldly possessions- together, under one roof. It's a great idea to give one of the most significant parts of your life, that layer of protection? just in case. Life

Insurance. Benjamin Franklin said there are only 2 certainties in life: death and taxes. Life insurance is a financial protection policy for your family that gives them a tax-free cash payment if you die while the policy is in effect. This can cover funeral expenses, outstanding debts, or help to support your family. Recreation Dave recommends 5?10% of

your budget here. Going to the movies, buying books, and vacations? this is the category for those types of expenses. Personal Spending The recommendation here is between 5-10%. Child Care, tuition, hair cuts, fun money. All happening here. You are obsessed with Chip and Joanna and need ALL THE THINGS from Magnolia Market (Preach!). This

is where the money for your fall scented candle or those super cute votives comes from. Want a new handbag or shoes? You want all the things from the Container Store (#nojudgements)? this is where you make it raaaaiiiinnnn! I'm a big believer in this spending category. While you do need to prioritise spending and have a financial plan in place.

Budgeting is kinda like dieting, it's 3x harder to stick to the diet without that cheat day to give you some much need relief from your cauliflower pizza crust. So, personal spending. Don't be in a huge rush to cut this back. I find I'm far more likely to overspend when I don't get this little bit of fun money. Might as well give over to the controlled burn so

things aren't blazing outta control. Ya know?! Dave Ramsey Example Budget So what does this look like in practice? Let's look at a family with a take home pay of $30,000. Check out this budget pie chart to take see what your spending would look like. And now with the amounts budgeted based on the percentages (sample): As you can see based on

the pie chart and the budget snap shot, these give you a solid idea of what your budget could look like based on your income. If you are looking for an easy way to organize you money and budgeting process, check out the Budgeting Bill Pay Calendar! If you are more interested in the Dave Ramsey Budget Forms and Worksheets, he has them

earmarked on his site. Now for a super important follow up question? are these percentages right for you? How to Budget Your Money with Budget Percentages that work for you While Dave's recommended budget percentages are a great jumping off point? a monthly budget is a very individualized piece of your financial picture. For example, maybe

you have spousal support or child care to factor in. Perhaps child care costs in your area are crazy high. I remember when we lived in New England, sending our daughter to preschool was going to cost as much as our rent. Which is insane! In case the suspense is killing you, I found Homeschool curriculum and worked with her an hour or so a day on

my own and joined a bunch of play groups. Frugal me just couldn't justify that much money for my then 4 year old. Nope! The best way to start out when you are learning how to budget would be to start with your fixed expenses (rent/mortgage payment, tuition, etc.) and start planning out from there. If your rent is eating up more than 25% of your

budget, you are going to have to shrink some other areas to compensate. An easy way to determine what you can expect for certain budgeting categories is to evaluate your spending by looking at the last 3-4 months spending to see where your money has been going. Some banks offer this as a built in feature, but if yours doesn't there are tons of

budgeting apps and software that can do the same thing. I personally use Mint and love it. I tried You Need A Budget, but it just didn't work for me, but I know tons of people who love it. Another program that I used previously and thought was pretty user friendly was Quicken software. I purchased it through Amazon, downloaded it and imported

everything in. Pretty easy to use overall. What Else to include in a budget? Another important consideration when building your monthly budget is to take into account your money goals. Are you saving for a down payment on a house? Trying to pay down debt? Need a vacation? Incorporating these goals is an important step to stop you from

accumulating more debt (throwing it all on a credit card) or just moving you toward achieving those goals. Experience has shown me, that I've been far more successful when I have a specific plan for every dollar rather than just throwing a lump sum in my savings and then calling it good. How do you know if what you are contributing is enough? Are

you stealing from your down payment fund to pay for that vacation? It's important to ear mark money as specifically as possible. I always love hearing from you guys. Let me know how this worked for you! Related Money Saving Posts: 125 Practical Ways to Start Saving Money, Today! Rock Your Grocery Budget Every Month How to Stop Spending

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How Much Should I Pay Every Month with Dave Ramsey Budgeting Percentages?

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