Do You Really Want to Be Average?
Considering that the average American family has a mountain of debt and little if any savings, do you really want to strive to achieve the average family budget percentages?
I hope not.
In fact, part of my motivation for creating the budgeting percentages average calculator, was to show you where you don't want to be -- average or worse.
Instead, your goal should be to try to spend less than all monthly household expenses calculated by this calculator, and then use your budget surpluses to get out of debt as quickly as possible.
Once you manage to get out of debt you will then be able to apply all of those freed-up debt payments for going from debt to financial freedom.
Just imagine what it will be like to wake up early on a Monday morning -- not because you have to -- but because you can't wait to get to work at something you love without having to worry about how much it pays.
The Number One Key To Setting Up a Budget That Works
While the results generated by the budgeting tool on this page can serve as a reference point for setting up a budget, they certainly don't represent an accurate record of your actual expenditures. And without accurate records from which to base your budgeting on, your budget will be as dangerous to your personal finances as a faulty air tank gauge would be to a deep sea diver.
If you are going to take the time and effort to create a household budget, why not take the necessary steps to insure that your efforts prove to be worthwhile? The first of those necessary steps, is to make a religious habit of recording every financial transaction that occurs in your day-to-day life.
Without that first step, none of the other steps can be taken with any degree of confidence.