Comments on: Simplify Your Budget with the 60 Percent Solution

By: Erin aka Conscious Shopper

Erin aka Conscious Shopper — Fri, 26 Feb 2010 20:39:02 +0000

That’s a great motto! I’ll have to remember that one to teach my kids.

By: Roy Jones

Roy Jones — Fri, 26 Feb 2010 18:16:24 +0000

I was brought up with the motto “spend half, save half” so this is a familiar concept

By: Amy

Amy — Wed, 24 Feb 2010 13:21:00 +0000

I really like this plan. We have been terrible about savings in the past but have been trying to revamp our thinking for the past year. 60/40 or 70/30 makes a whole lot of sense!

By: Erin aka Conscious Shopper

Erin aka Conscious Shopper — Wed, 24 Feb 2010 04:32:20 +0000

Donna – Medical insurance is definitely a tough one. I think one of the great things about Jenkins’ plan is that it’s a rough guideline but it can be adjusted to fit your personal needs. We’re actually shooting for more of a 70% plan, and that works for us. The important thing is to make it automatic. So even if you’re saving 1% of your income, you have it automatically deducted before you get your paycheck, and then you never see it or think about it and you don’t feel deprived or tempted to buy things you don’t need.

By: Sense of Home

Sense of Home — Wed, 24 Feb 2010 03:59:25 +0000

I like this idea. We have been doing something like this for a while, but I think we could live on a lot less if we put our mind to it. I have been tracking our spending for several months and frankly am surprised at how much we spend unnecessarily, I thought we were more frugal. I admire your being willing to make a big change, like down-sizing your house. For the record, ours is already small (1040 sq. ft.), our spending needs to be cut elsewhere.

-Brenda

By: donna

donna — Tue, 23 Feb 2010 22:27:29 +0000

This sounds like a sound way to organize finances. I’m a spreadsheet geek, too, and I carefully manage our budget. The thing that gets me, though, is that 20% of our gross income goes to medical insurance. It puts such a cramp on everything else, that I can’t figure out a way to save. I’ve thoroughly investigated, and we have the most cost-effective plan we can qualify for — it’s just too stinkin’ expensive and the premiums go up every year faster than our raises. I wish articles like Jenkins’ would talk about that. I don’t see how we could ever fit into any kind of 60% plan without a higher income, and we are at the median household income for the US.

By: Erin aka Conscious Shopper

Erin aka Conscious Shopper — Tue, 23 Feb 2010 21:01:36 +0000

Thanks for the chance to post here today!