![]() Obviously, the percentage you spend will vary for example, for groceries it will vary depending on things like the price of groceries, your family size, and any special nutritional needs.If you are spending more than that, you should consider cutting back on that spending. For example, food purchases should only take up 5 to 15 percent of your budget. Regular expenditures should usually only take up so much of your income. Even your essentials section should be looked at closely.Once you’ve spent that $40, you can’t go to any more movies until the next month. For example, if you routinely go to the movies, set a budget of $40 a month for movie tickets. However, setting a budget and sticking to it will help keep that spending in check. X Expert Source Samantha Gorelick, CFP®įinancial Planner Expert Interview. It’s fine to budget for discretionary spending - you can’t live a life without any fun.Pick a set amount that you cannot go over each month and stick to it. Set limits on discretionary spending in particular. ![]() Target specific areas of your spending to decrease. This type of program can be an easy, painless way to save a little bit each month. It will also match a certain percentage of this savings. This program rounds up each transaction you make with your debit card and transfers the difference into your savings account. ![]()
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