Simplify your life. Forget all the categories and think of your spending plan as 4 major categories:
You, House, Car and Fun.
Under "Fixed and Variable and Discretionary" all together would be:
YOU/FAMILY
a) taxes....................buy
b) insurance.............protect
c) energy..................feed
d) decoration...........furnish (clothes)
e) fixing....................fix
HOME
a) mortgage..............buy
b) insurance..............protect
c) energy...................feed
d) decoration............furnish (decorations)
e) fixing.....................fix
CAR
a) car payment/replacement....buy
b) insurance...............................protect
c) energy....................................feed
d) decoration.............................furnish (car washes, accessories)
e) fixing.......................................fix
FUN (no other sub-categories needed, it includes everything else: dining out, movies, vacations, gift-giving, etc.)
Within those 4 major categories, maybe it would be useful to separate out a sub-category for the items shown but basically it is: Buy, insure, feed, furnish and fix.
The four major categories have 5 areas. For example, for you/family the sub-category called: Energy (for family it equals "food", but under home it equals "utilities" and under car it equals "gas"),
And another sub-category "decoration" (family = clothes, jewelry; home = pictures, carpets; car = car washes, etc.)
An Introduction
Hi. Welcome to BourGroup and my blog. Phil
Phil Bour is a CERTIFIED FINANCIAL PLANNER(tm) professional since 2004, a Magna Cum Laude college graduate and an accounting professional for over 35+ years. I love numbers, statistics and economic history.
I am also an Enrolled Agent (EA) to represent taxpayers before the Internal Revenue Service and to prepare tax returns.
"Phil"osophy: I believe that you can manage your money on your own (not necessarily through individual stock selection but through mutual funds, ETF's and other solutions) once you receive some one-time, professional guidance. Why pay annual fees when there may be little added value? For additional information, first read the "An Introduction" label at the left. Then move on to others.
Phil Bour is a CERTIFIED FINANCIAL PLANNER(tm) professional since 2004, a Magna Cum Laude college graduate and an accounting professional for over 35+ years. I love numbers, statistics and economic history.
I am also an Enrolled Agent (EA) to represent taxpayers before the Internal Revenue Service and to prepare tax returns.
"Phil"osophy: I believe that you can manage your money on your own (not necessarily through individual stock selection but through mutual funds, ETF's and other solutions) once you receive some one-time, professional guidance. Why pay annual fees when there may be little added value? For additional information, first read the "An Introduction" label at the left. Then move on to others.