How do I determine my monthly budget?
How do you calculate total budget?
Add your fixed costs to your variable costs to get your total cost. Your total cost of living on your budget is the total amount of money you spent over a one month period. The formula for finding this is simply fixed costs + variable costs = total cost.
What should my budget percentages be?
There are a few basic rules to keep in mind when setting budget percentages and the first question you might have is: how much should things cost? Here's a quick rundown of how your income may be divided up: Housing: 25-35% Insurance (including health, medical, auto, and life): 10-20%