What should you do when you get paid? Spend it, save it, invest it? How about use The Broke Investor’s FREE Budget Calculator to find out.
In the beginning of the year, I went over the 50/25/20/5 Budget Guide. The budget guide was created to assist anyone who is looking for a solid plan that can be used to manage their $$$. In addition, The Chop Block (25% portion) is used to chop away any debt that is holding you down.
The Broke Investor has personally used the 50/25/20/5 Budget Guide since it’s introduction (01/15/2018). The Budget Guide has allowed me to chop away a consolidated loan that was supposed to last until 2020. Paying off early saved me $1,319.64 in future interest payments. Now, I have to find out what I can do with all of this “extra” money.
However, since there are student loans and a home mortgage that still need to be chopped away, The Broke Investor figured it’d be easier to keep track of what goes where with The Budget Calculator. Instead of manually calculating each portion (50%, 25%, 20%, 5%) when you get paid, you can use the budget calculator to spit out the numbers and print the budget breakdown for your records.
The Budget Calculator also has 3 budget types you can choose from. These are the same budgets that we went over in the 50/25/20/5 Budget Guide. If you know of any other budgets that have helped you or someone you know with financial planning, please comment below and I will include it in The Budget Calculator.
Keep growing, keep investing.
After using the FREE budget calculator, let me know what you think.
If you have any suggestions of future projects, I am all ears.
This project was started from scratch by The Broke Investor.