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Use our Cost of Living forum to discuss budgeting and energy saving with other users.

Use our Cost of Living forum to discuss budgeting and energy saving with other users.

Cost of living

Balanced money formula - how do you measure?

6 replies

nkf · 09/02/2013 13:36

www.getrichslowly.org/images/GRS/BMF-handout.pdf

I found this really interesting. It's a formula for managing money. Not a budget. Basically, the authors say you should aim for 50, 30, 20. No more than 50% of your income on needs, 30% on wants and 20% on savings.

I applied it to my finances and I am sadly out of wack.

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nkf · 09/02/2013 13:37

{http://www.getrichslowly.org/images/GRS/BMF-handout.pdf}

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nkf · 09/02/2013 13:37

[http://www.getrichslowly.org/images/GRS/BMF-handout.pdf]]
[

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nkf · 09/02/2013 13:37

Still can't do it.

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nkf · 09/02/2013 13:38

//www.getrichslowly.org/images/GRS/BMF

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Mum2Fergus · 10/02/2013 08:22

Im not too far off the mark...must make a more conscious effort with savings though.

nkf · 10/02/2013 16:38

Well done, you. My savings are not enough and my fixed expenses too high.

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