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Your Personal Budgeting Sheet
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If you're new to budgeting, using the 20/30/50 rule is a great starting point.

From your net income:
Allocate 20% toward savings.
Allocate 50% toward living expenses.
Allocate 30% toward debt and personal wants.

While this method is easy to use, truth be told, everyone's financial situation is different. So think about your goals and lifestyle and create wriggle room or get more specific from there.

Breaking up your spending categories by percentages is powerful as it helps you determine where you spend and how much you can save. Ready to give it a try?
Download this document by clicking on 'File' > 'Download' and tweak to suit your needs.
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Overview
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A graphical representation of your savings and expenditure based on your input in the next section.
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Details
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Plan out your budget by entering the $ fitting to your situation and lifestyle in the cells highlighted
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Amount $%
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Income from Work
3,000
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Income from Other Streams
0
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Gross Income3,000
The sum of all your earnings before any taxes have been deducted, minus any exemptions
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Tithe00%
10% of your gross income as tithe
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Taxes and Other Mandatory Deductions
0
Such as income tax, employee CPF deduction
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Net Income3,000
Balances after setting aside for tithe and mandatory deductions
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Savings00%
Set aside 20% of your net income as savings first before spending! This helps you to determine your affordability over your needs vs wants
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Givings to Family
00%
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Food00%
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Grocery00%
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Transport00%
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Bills00%
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Medical00%
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Insurance00%
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Living Expenses
00%
These are your necessary living expenses, and should not go beyond 50% of your net income
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Credit Card0
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Housing Loan0
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Education Loan0
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Debts00%
Pay your debts first before your wants!
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Balances3,000100%
Balances which you may use to pamper yourself!
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Pro Tip - Emergency Funds
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As a general rule of thumb, you should save up at least 6 months of the total of your living expenses and debts as an emergency fund for the rainy day.
This is so that in the event of any unforseen circumstances, this can tide you over for a period of 3 to 6 months without any regular income.
If you are planning to invest or put your money in a mechanism where liquidity is low, do this only after you have set aside sufficiently for this emergency fund
(e.g. putting money in a fixed deposit account, where it is difficult to retrieve your money immediately).
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Based on your income and expenditure profile above, you will need:
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$0
as a 6-month emergency fund. At your rate of saving, you will need to take:
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#DIV/0!
months to save up to this amount. This can be shorten to:
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0.0
months if you top up your monthly savings with your monthly balances!
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