Dave Ramsey's Household Budget Percentages
Ramsey’s 11 budget categories, along with the percentages are:
Giving — 10 percent of your monthly income to worthy causes.
Saving — 10 percent of your income for retirement.
Food — 10 to 15 percent
Includes both grocery shopping and eating out.
Utilities — 5 to 10 percent
Cell phone, cable, internet, gas, and electricity.
Housing costs — 25 percent
Rent or mortgage, along with tax, insurance, HOA fees, and PMI.
Transportation — 10 percent
Any and all transportation costs including public transportation, car payment, gas, maintenance, and parking.
Health — 5 to 10 percent
Medical and health care bills (not including health insurance premiums).
Insurance — 10 to 25 percent
Life insurance, health insurance, and auto insurance. Renters or home insurance is placed in housing costs.
Recreation — 5 to 10 percent
Any lifestyle expenses, such as gym memberships or kids’ activities, as well as entertainment expenses like concert tickets and travel.
Personal spending — 5 to 10 percent
Clothes, shoes, hair care, home furnishings, home decor, etc.
Miscellaneous — 5 to 10 percent
The “stuff you forgot to budget for” category.
Saving — 10 percent of your income for retirement.
Food — 10 to 15 percent
Includes both grocery shopping and eating out.
Utilities — 5 to 10 percent
Cell phone, cable, internet, gas, and electricity.
Housing costs — 25 percent
Rent or mortgage, along with tax, insurance, HOA fees, and PMI.
Transportation — 10 percent
Any and all transportation costs including public transportation, car payment, gas, maintenance, and parking.
Health — 5 to 10 percent
Medical and health care bills (not including health insurance premiums).
Insurance — 10 to 25 percent
Life insurance, health insurance, and auto insurance. Renters or home insurance is placed in housing costs.
Recreation — 5 to 10 percent
Any lifestyle expenses, such as gym memberships or kids’ activities, as well as entertainment expenses like concert tickets and travel.
Personal spending — 5 to 10 percent
Clothes, shoes, hair care, home furnishings, home decor, etc.
Miscellaneous — 5 to 10 percent
The “stuff you forgot to budget for” category.
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Who is in complete control of what you spend and save?