Once you have a comfortable emergency fund though, you will probably want to set aside money for holiday spending, retirement, education, vacations, or your dream home. Everyone should have an emergency fund to pull from in case of well, an emergency, so that a tough situation isn’t made worse by adding debt to the stress of whatever unexpected event has occurred. Ideally, your income will more than cover your expenses so you can also set some savings goals. This Recommended Monthly Budget Percentages worksheet from the Michican Counseling Association is a great place to start to set your own spending goals. You’ll get a lot of conflicting information on what percentage of your income should be allocated to housing vs. rent or mortgage, car payment), but it’s a good idea to set goals or establish guidelines for how much of your income you want to commit to different types of expenditures. Many of your costs will be fixed, at least in the immediate future (e.g. Double check your print preview, then click print. Select your printer and set the number of copies you want to print. You’ll need a program that supports PDFS, like Adobe Acrobat (which is free).
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