Here is a Household spending plan to save for retirement! Part 2
Step 4 – Choose Your Spending Plan Targets
Use the Spending Grid Tool below to help you decide which spending categories you will target for reduced spending. For each numbered spending category, draw an appropriate bubble on the grid. Big expenses should go toward the top of the graph and little ones should go toward the bottom. Similarly, expenses you’d find easier to reduce should go toward the right of the graph while those that would be harder should go toward the left.
Step 5 – Now Get Out the Statements, Bills and Calculator
Now that you’ve identified your categories that are your Spending Plan Targets, do a detailed assessment of how much you spend in each category. Go back through three months of statements and calculate an average for each. Then, figure out how much you need to reduce spending to meet your goal.
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Saving for Retirement (Pt 1) – https://youtu.be/GTy3Ed56EAk
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