The average person usually has no idea how much he or she is spending annually or monthly. The first step, then, is to track what you spend and compare it to the guidelines shown here. Only then should you begin to adjust your budget to make it balance.
Net Spendable Income (NSI) is what is left after giving and taxes. The NSI is what you must live on. There are three primary categories in every person’s budget: Housing, Food, and Auto. If these three combined percentages exceed 70 percent of your NSI, then it will be almost impossible to have a balanced budget.
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About the Online Budget Guide:
With increasing technology on the Internet today, Crown wishes to take advantage of this technology to help bring information regarding biblical stewardship to the Internet audience. The online budget guide is only a guide. We realize that all families do not fit the same criteria.
Instructions: -
Input your pre-tax /pre-giving income into the box labeled "Gross Income."
- Input your giving.
- Input your taxes.
- Click the Submit button.
- You will receive the results on another page.
Results:
You will see your income listed at the top with four columns below. The Category column will list the 12 to 14 sections that Crown recommends. Next, you will notice a Suggested Percentage column, which gives a recommended percentage for the given category section. Next is the yearly allotment for the category. Finally, the monthly allotment is given next.
If you wish to input another income figure or choose another family scenario, click your browsers Back button or the Start Another Budget button.;
|
Category |
Suggested Percentage |
Annual Amount |
Monthly Amount |
| Net
Spendable:Monies remaining after all taxes and charitable giving are paid. |
|
$39,400.00 |
$3,283.33 |
| Housing:This expense should include mortgage, insurance, gas, electricity, maintenance, and phone.
|
36 % |
14,184.00 |
1,182.00 |
| Food: This expense includes your basic grocery list. Do not include eating out in this category.
|
12 % |
4,728.00 |
394.00 |
| Auto:This expense includes auto payment, insurance, maintenance, and replacement. |
12 % |
4,728.00 |
394.00 |
| Insurance:Life, health, and other. |
5 % |
1,970.00 |
164.17 |
| Debt:This category, if needed, should not be overlooked. Getting debt eliminated is a very important goal of any budget. |
5 % |
1,970.00 |
164.17 |
| Ent/
Rec:Eating-out, vacations, and activities should be included. |
5 % |
1,970.00 |
164.17 |
| Clothing:Do not overlook this category. Many persons do not budget for this category. The minimum amount should be at least $10 a month for each family member. |
5 % |
1,970.00 |
164.17 |
| Savings:A wise option. Regardless of the amount, a regular savings plan is crucial. Even if it is only $5 or $10 per month.
|
5 % |
1,970.00 |
164.17 |
| Med/Dental:Dentist, physician. |
6 % |
2,364.00 |
197.00 |
| Misc:This category is generally for items that do not fit any other category. This category can be the most dangerous as far as budget busting if not kept under control. |
4 % |
1,576.00 |
131.33 |
School/Childcare*:Tuition, day care, and related expense. This category is added as a guide only. If you have this expense, the percentage shown must be deducted from other budget categories.
The School/Childcare category is added as a guide only. If you have this expense, the percentage shown must be deducted from other budget categories. Remember, all percentages must add up to 100 percent. |
6 % |
2,364.00 |
197.00 |
| Investments:Stocks, bonds, mutual funds, and other. |
5 % |
1,970.00 |
164.17 |
* The School/Childcare category is added as a guide only. If you have this expense, the percentage shown must be deducted from other budget categories. Remember, all percentages must add up to 100 percent.
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