Unlock Hidden Money Secrets: 5 Budget Hacks No One Tells You Between Jobs
- Fixed costs should only consume 50 percent of income and apply to those fixed costs that remain the same monthly, such as rent and internet.
- Savings should comprise 20 percent of your income.
- Variable costs should only use up 30 percent of your income and include expenses such as groceries, entertainment and clothing.
Adjust these percentages based on your circumstances, aiming to work toward the rule for a healthier financial balance.
In the meantime, where else can you cut or hack your expenses? Invest in a French press over heading to Starbucks every other day. Cut the gym fees, and use free weights and bike or dance. Rent out a room on Airbnb or look for a roommate. If you have a skill to teach others, put it to use for a reasonable fee.
