What is the perfect way to organize personal finances?

Jayson Brod: It is actually more simple than you realize. The way I learned how to manage money was to have a clear plan of what you want. I wanted to go to college in another state but I had very limited funds. I did it but it was often difficult since I could only work part-time. Many times I didn't really have enough to eat and got really skinny until I got a job at a Tea Room. I was also saving money for a better car so I opened up a Christmas fund. Now that I am married and work full time I have the money but the lesson I learned in college has stayed with me so I save as much as I can. My biggest problem is my husband who seems to think the more you make the more you can spend do I purchase CD's which can't be touched for five years. This will give you more interest....Show more

Lucien Hellerman: There is no one perfect way.We all have individual needs and life choices which decide which is the perfect way for ourselves.What we choose varies according to o! ur stage of life.For example at the moment you are saving for a new vehicle but in 15-20 years time your priority may be your kids education....Show more

Damion Oleksa: Even though last year I learned Dave Ramsey's Financial Peace, it is still difficult to do and what I have done through the years without his knowledge has gotten me by. I do think everyone should have an emergency fund though since emergencies always happen sooner or later.A budget is very helpful if you can stick to it and that takes determination.I always paid the bills first, then bought the groceries, then either saved the rest or used it for entertainment.Too many people put entertainment in their main budget but there are so many things one can do for entertainment that does not need a lot of money.Be choosy about what you spend your money for. Buy what you can at a discount, even use barter for some.Usually when you want to save for something special it requires discretion in other areas to f! ind ways to cut spending, every little big helps'...Show more!

Manual Burtis: It's all about building a budget that reflects the lifestyle and goals you want to have happen. Here is a general budget to start with hat you'll then need to tweak to fit your lifestyle, and in some cases you'll need to tweak your lifestyle to fit the numbers. 10% of your income goes to long-term (retirement) savings. The sooner you start, the better. 15% of your income goes to debt repayment/emergency fund. This one's important, because if you keep saving until you have 6 times your monthly income, if you were to ever lose your job, you could keep supporting yourself until you have a new one. 35% of your income goes to housing (rent, mortgage, bills, utilities). I recommend shopping for places that are way less than this amount; you never know what could pop up, and if s&it hits the fan, having a place that costs more than 35% is going to drag you down, simply because you'll feel that you can't even afford to move when it gets rough. And any left-ove! r money from here could be put into a different savings account towards a dream house, or any other project. 15% of your income goes to transportation (gas, insurance, repairs, bus). Any left-over money from here could be used into another savings account for cars. 25% of your income goes to life (food, entertainment, clothing, gifts, travel, medical, wants, phone, internet, cable, other). If you were to work full-time 40 hours at min wage of $10/hr, you'd make $1600 a month, which means having $400 a month for life, or $100 a week. That is not a lot, but if you split up that 100 among all the things you want to spend money on, and just keep saving it week after week, the big/random expenses that come up will be affordable. Example: If your phone bill costs $60 a month, put aside $12.50 a week and you'll have the money when you need it, and your money stash won't take such a hit. For life, you could use separate savings accounts for all those things, or you could use a jar! system. Grab some jars, label them with the things you want to spend m! oney on, and label them with the amounts you're going to let yourself spend on them each week. You live off of the cash in the jars and avoid your debit card completely. For travel and/or medical, I would use savings accounts, those expenses tend to need some big money....Show more