The Richest Man in Babylon: Back to Basics Budgeting

[anon6625950]

To quote myself

Targets

One of the principles of personal finance is the 50:20:30 rule: Fixed Costs (50%): Everything you have to pay for monthly should fit in half your salary, wherever possible. Financial Goals (20%): This category should be devoted to some form of goal you have. This can include building your savings, paying down debt, building an emergency fund, and so on. Flexible Spending (30%): This category can include anything that changes month to month. That can mean things like grocery shopping, but it c…

I would really like some help from Monzo here, despite having a spreadsheet I cannot work out if I am anywhere near this on a monthly basis.

Additionally, I used the ‘comparison to average spend’ to reduce my spending - before it got replaced by Targets