Sunday, October 5, 2008

A great visual budgeting tool

I just discovered a great tool for comparing your current budget to expert recommendations.
CNBC's Carmen Wong Ulrich's Budget Calculator
Keep in mind this is very simplistic, but in my opinion, a great visual tool, especially if you're new to setting up a budget. Don't worry if your monthly budget does not match the recommended one, but it could be a good future goal to try and align your monthly spending more closely. I have heard various estimates like you should not spend more than 25 to 28% on housing, but the 30% here is a little more realistic and allows for a little more wiggle room if you are below the 30%.

1 comment:

Anonymous said...

Wow! That thing is awesome! It was so fast and it made me realize that I should be able to afford to put more into savings and paying off debt. Thanks for posting the link!