Budget ratio - define your own

Often, people want to know how much they "should" be spending, or saving, or what an average looks like for someone like them.

In absence of precise goals there are a number of templated “breakdowns” for you to adapt for your budgeting. Obviously these are very generic and not aligned to your personal goals. How can you adapt these to what you need?

If you pared down your expenses and targeted your goals you’d likely come up with a ratio that works for you beyond a generic ratio, and that’s just fine – after all there is no such thing as “normal”.

Financial wellness series with thanks to MFAA