From our readers’ corner:
Lately I’ve receive a lot of questions from readers, as well as my clients, trying to decide what percentage they should be spending in a particular category of expenses in order to maintain more proactive and empowered financial behaviors. This is an excellent question and glad that all of you readers realize the importance of “owning” your money!
While it can seem interesting or even fun to see how much you’re spending in a category vs. your neighbors, these percentages are NOT the Holy Grail you should be focusing on. It only has meaning if you’re comparing yourself to others! In other words the percentages are a ‘relative’ measure and only have meaning when compared to someone else’s results. While I agree that it makes cute and easy to understand pie charts, in terms of how to end up with more money for saving and investing, this is not where to focus your attention.
Continue reading "What the Fluff? The Truth to Prioritizing your Budget " »


