Monthly Budgeting 101

Do you plan out how you are going to spend your money every month? Or do you just wing it and hope for the best?

While the second option might be getting you by it can be hard to do some things that you might want to do such  as save for an emergency fund, save for traveling or any other fun activities that you might run out of money for before the month is over.

Here at Consumer Credit Counseling Service, Inc. we have developed a simple model for a good monthly budget. We understand that not everyone has the costs listed on here or maybe there are other costs that you have throughout the month that are not included on here. This is an adjustable model and you should use it as a skeleton outline and adjust it to your life where you need to.

23% – Housing costs such as rent or mortgage payments

22% – Cost of groceries and eating out

15% – Transportation costs such as car payments or bus fare

8% – Utility payments such as electric, water, gas or trash

8% – Medical expenses such as regularly scheduled doctor’s appointments

7% – Money put into a savings or retirement account

6% – Unsecured debt such as credit card payments

5% – Costs of buying new clothing or shoes

3% – Cost of paying car, house or renters insurance

3% – Personal and leisure costs such as going to the movies or hobbies

With any budget there has to be some give and take so play around and see what would work the best for your situation and if you need any help please reach out to us by calling 316-265-2000 or email

View our full infographic here.