HOW MUCH SHOULD I BUDGET...?

To B or Not to B.  That is the question.  In this case B = BUDGET so the answer is YES... B, you should definitely B.  

It's easy to figure out where you want to spend your money (shoes, spa treaments, vacations, shoes) not so easy to figure out where you should.   Here is a chart with some wiggle room that I like and helped set my budget.

Housing = 35 - 45%

Auto & Transportation = 15 - 25%

Food = 10 - 20%

Installment & Loans = 10 - 20%

Utilities = 8 - 15%

Medical = 8 - 15%

Personal = 5 - 10%

Saving & Investing = 5 - 10%

Clothing = 3 - 5%

Some great "how to's" and video tutoring is available at practicalmoneyskills.com.   Click here to view Jean Chatsky's Budget Building Series, and download a FREE (Mac & PC) budgeting software here called MY BUDGET PLANNER.

Budgeting is an extremely important part of any good financial plan that most of us choose to ignore.  Only 40 percent of Americans use a budget to plan their spending, but 60 percent of Americans routinely spend more than they can afford, in at least one area of their lives.  So unless you are Paris Hilton and someone just gives you money to do whatever with... DO IT! (and look what it did for her).