Spending "rules" are almost always garbage.
Realistic spend should not follow rules but your budget priorities. For some income the "rule " might work but not at the full range of 25k to 250k living in nyc vs rural iowa. Also whole cost of ownership should be in budget. I'm a big fan of idea of every month adding to car repair/replace category of budget.
Personal finance is personal but these sort of rules mainly exist to allow someone to write multiple finance blog posts and to generate traffic.
Realistic spend should not follow rules but your budget priorities. For some income the "rule " might work but not at the full range of 25k to 250k living in nyc vs rural iowa. Also whole cost of ownership should be in budget. I'm a big fan of idea of every month adding to car repair/replace category of budget.
Personal finance is personal but these sort of rules mainly exist to allow someone to write multiple finance blog posts and to generate traffic.
Statistics: Posted by CaptainT — Fri Nov 01, 2024 2:18 am — Replies 79 — Views 3131