Simple way to manage your money: Your daily latte won’t send you broke

TAMPA, Fla. - Aug. 13, 2015 - PRLog -- Simple way to manage your money:

It’s called the 60-20-20 plan – 60 per cent safety, 20 per cent savings, and 20 per cent splurging – and it’s the easiest way to manage your money.

Safety – 60 per cent

Safety means allocating 60 per cent of your take home on food and shelter. All the things you need to live safely.
If you’re like most people it will divide up something like this:

Mortgage: 30 per cent
Food: 15 per cent
Mobile and broadband: 5 per cent
Car: 10 per cent

Savings: 20 per cent

Allocate 20 per cent of your hard-earned to savings

Splurge: 20 per cent

The key is to make sure your splurges don’t drain your bank. Think about the big goals you have over the next 12 months, and chunk them down to weekly amounts.

The 60-20-20 plan

60% Safety (all living expenses)
20% Savings (thinking ahead)
20% Splurge (things that make you smile)

Do you have a question? Ask me at mminter@mintcofinancial.com

www.MintcoFinancial.com

Call 813 964 7100

Also check my book online I-Plan, simple way to understand your finances.