The 60% Saving Solution

The 60% solution sounds like an intersting concept and it would probably work for most if tried. The idea is simple enough, reduce your monthly commited expenses to 60% of your income and divide the remaining 40% into 4 10% amounts for different savings needs. Of coarse if your monthly spending habits are well above 60% you will have to have to make changes and stick to them for it to work.

A simpler way to save: the 60% solution
"I've kept a budget of one kind or another, first on paper and then with the help of various software programs, for about 20 years -- despite a strong suspicion that I was wasting my time. The illusion of control, I argued to myself, was better than none at all.

My approach to budgeting was to carefully track my spending during the month and to adjust my budget targets up and down in each category, so that my total expenses never exceeded my income.

Useful? Sometimes.
Anal-compulsive? Probably.

After two decades of this, though, I started to wonder if there isn't an easier, more effective way to budget. I realized that the hardest part about keeping a budget is getting useful information from it. There's too much detail and not enough bottom line. My answer is "the 60% solution," a faster and easier way to structure your budget without having to account for every penny." Money Central

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