Susie Bafico's 8 Month Emergency Fund
3. Your New Monthly Budget
Based on your income and current savings, we calculated a revised budget to help your meet your goals.
Monthly Budget Details
Good news: This user has a smart budget and is making more than they spend, so they can start moving money into an emergency fund right away.
Figure out how many months you need.
| Current Spending % | FiLife Budget % | |
|---|---|---|
Home |
57% | 57% |
|
locked Rent
|
56.67% | 56.67% |
Utilities |
6% | 6% |
|
Electricity
|
2.00% | 2.00% |
|
Cable or satellite TV
|
2.67% | 2.67% |
|
Internet
|
1.33% | 1.33% |
Health |
2% | 2% |
|
locked Doctor visits
|
0.33% | 0.33% |
|
locked Medication and prescriptions
|
1.33% | 1.33% |
Food |
12% | 12% |
|
Groceries
|
4.00% | 4.00% |
|
Restaurant: Lunch
|
1.33% | 1.33% |
|
Restaurant: Dinner
|
6.67% | 6.67% |
Transportation |
6% | 6% |
|
Public transportation
|
6.00% | 6.00% |
Personal |
8% | 8% |
|
Travel
|
1.33% | 1.33% |
|
Tickets
|
1.67% | 1.67% |
|
Beauty and style
|
1.33% | 1.33% |
|
Clothes and accessories
|
3.33% | 3.33% |
| Total Spending: | 100% | 100% |
| Savings: | 10% | 55%* |
Spending Distribution
Current monthly spending
Recommendations
Follow these steps to change your spending in order to better achieve your goals.
1. Pay off your debt with savings now and work to put money back into your savings
Should I use savings to pay off my debt?
2. Get a better deal on your insurance
Are you getting more coverage than you need?
Shop around for a better deal.
3. Lower your property taxes
Reassess your home and find out if you're overpaying taxes.
4. Trim travel costs
Are you wasting money on travel insurance?
5. Spend less on clothing and accessories
Learn to look stylish on a budget.
6. Home improvements can save you money
Learn how going green can save you more in the long run.
Understand your maintenance needs and avoid getting fleeced.
7. Save on remodeling costs
When you "put money into your home," make sure it's worth it.
8. Beauty and style on a budget
See how you compare to what other members spend on haircuts.
9. Save on event tickets
Find ticket deals online.
Score cheap Broadway tickets.
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