50 30 20 rule

I’m Miriam  Neff,  and I’m Valerie Neff Hogan, with Wise Women Managing Money

M Whether married or single, one possible budget formula is the 50 30 20 rule.  Simply stated divided your income into 3 categories.  Half on needs,30% on wants, and 20% on savings. 

As Christ followers we’d change that to 10% first for Kingdom purposes. Half on needs, 20% on wants, and 20% on savings.

V This is simply an idea. Each person or couple with discussion and prayer can decide based on their common agreements.  If you don’t have a recorded spending plan, keep track.  Then categorize  what’s going out by Kingdom purposes, needs, wants, and savings.  Now you KNOW IT. It’s real, OWN that reality.  Is it sustainable?  If your income does not match what’s going out.  Yes, you must change it.