Results
60% Survival (Needs)
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Essential expenses you cannot live without: Rent/mortgage, utilities (electric, water, gas, internet), groceries and household essentials, transportation (car payment, gas, public transit), minimum debt payments, insurance (health, auto, home), basic phone plan, and essential medications. These are your "must-pay" expenses that keep you housed, fed, and safe.
20% Wants
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Lifestyle choices that enhance your life and fills up your engery and love tank: dining out, entertainment (movies, concerts, streaming services), gym memberships, hobbies, shopping for non-essentials, vacations, beauty services, and luxury items. These expenses improve your quality of life but can be reduced or eliminated if necessary.
Limit yourself to buying something special as an incentive to refill your love tank. Allow the money you would normally spend to accumulate instead of spending impulsively. Let it build with intention so when you do choose something, it's meaningful, paid for in full, and aligned with your priorities rather than your emotions. Remember: If you do not have enough saved in your budget wait until you do. Protect your peace.
20% Savings
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Building your financial future and security: Emergency fund (aim for 24-36 months of expenses), retirement savings (401k, IRA), extra debt payments beyond minimums, investments, major purchases fund (car, home down payment), education savings, and pet emergency fund. This money protects you from financial stress and builds long-term wealth. Your savings are your safety net. They are there for emergencies, unexpected expenses, and long-term security not everyday gaps. If money feels tight, increase your income first. A side gig protects your savings, strengthens your financial position, and keeps you from going backward.
10% Debt Relief
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Accelerated debt payoff for financial freedom: Extra payments toward credit cards, personal loans, student loans, car loans, and other high-interest debt. This aggressive approach helps you pay off debt faster, save on interest, and achieve financial freedom sooner. Focus on highest interest rates first (debt avalanche method).