If you’re maxing out your food and transportation, you need to cut back somewhere (and often it’s savings that get cut). The food and transportation percentages are close to the upper end of Dave Ramsey’s ranges, but the whole pie still needs to add up to 100%. So what are the differences between Dave Ramsey’s ideal budget and the reality of American spending? If you compare the charts side-by-side, you’ll notice these big differences: spending looks like this:ĭave Ramsey Budget vs. Combining categories to be similar to the chart about, the average U.S. They collect data on household income and spending and have recently released the data for 2015. We looked at one “ideal” image of a budget, but what are people’s reality? We can’t really ask our friends and neighbors, but we can take a look at the statistics from the United States Bureau of Labor Statistics (BLS). National Average Budget Category Percentages If you look at the lower end of all of these percentages, the chart would look like this: Many of these are pretty big ranges, leaving a lot of room for personalization. Here are his recommended budget category percentages, as listed on Every Dollar: Let’s start by taking a look at what personal finance guru Dave Ramsey has to say on this topic. If you’re not familiar with him, he’s most famous for his book The Total Money Makeover and his Financial Peace University classes.
The real question is probably, “Is my spending out of control compared to other people?” or “Am I saving enough?” Dave Ramsey’s Budget Category Percentages What Should My Budget Category Percentages Be?Ī question I hear a lot is, “How much should I be spending in each budget category?” This is a very personal question that no one can answer for you.
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