So, after looking at the Salary Percentage Allocation System, hopefully you can agree with the following benefits that this system offers:-
1) doesn’t require much of a discipline, since you don’t have to worry about forgetting to jot down your daily expenses
2) once setup, you are ready to automate the process entirely to the machine
3) a definite to really ensure you pay yourself first before you pay others (how else can you expect to save any money?)
However, this is not a system which will guarantee your success in accumulating money. In fact, a good system is a flexible one, in which YOU yourself will be the most important factor in determining how well this sytem works.
How?
By monitoring and constantly reviewing if the figures and percentage works for you from time to time. You should fine tune it regularly to ensure that the system is not too taxing on your lifestyle and not too lenient that you are only contributing 1% of your income for the next 10 years.
Time to throw the complicated budget out the window?
Articles in this series:
Part 1: My Personal 2007 Budget and Expenditure System
Part 2: The Magical X
Part 3: Automated Savings Chart
Part 4: The Better Way to Save
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