Living within your limits helps keep your personal finances healthy.
It’s okay to keep it simple. Tracking your spending in a few broad categories will make budgeting easier. Consider using the budgeting activity tracker below to help you find ways to spend less and save more. Try automating your savings instead of seeing what you may have left over at the end of the month.
Where should you start?
Essential expenses
<50% of income
This covers housing, food, transportation, health care, childcare, student loans and other minimum debt payments.
Retirement savings
10%+ of income*
This percentage includes your individual contributions, along with any contributions your employer makes.
Short-term savings
5%+ of income
This helps you build an emergency fund and cover other unplanned expenses.
*The range above varies based on where you live, how old you currently are, how you’re invested, what your goals are and how much you have already saved.
