What does ideal spending look like?

budgeting Mar 18, 2019

Are you ready to become an ideal spender?

If you spend too much, you’ll find yourself in debt. Spend too little, and you’re not maximizing your financial potential. So how do you know if you’re spending just the right amount? And, if you need to make a change, how should you go about it?


If you have a significant revolving balance in your checking account, you might want to think about ways to make your money work harder. Adding just a few more dollars a week to your retirement fund or a high-interest savings account can yield greater benefits in the future.

Tip: Chronic underspenders may also simply be out of touch with their finances and thus unsure of what they can reasonably spend. Need a more accurate point of view? Sit down and take a close look at your accounts and expenses.


Not having a budget or not sticking to the one you’ve made can easily lead to overspending. If you find yourself in this category, take the time to establish clear financial goals and then build a plan that will help you reach them. 

Tip: It also helps to eliminate spending triggers. Unsubscribe from retailer emails and don’t make a habit of aimless online shopping. Instead, focus on quality time with the people you care about and ask them to help you stay on track.

Spending Just the Right Amount

Need some budgeting inspiration? Consider the 50/30/20 method. With this approach, 50 percent of your income should go toward needs -- core expenses like housing, food and transportation. Allocate 30 percent to “wants” like travel and entertainment, and the remaining 20 percent can go toward your savings. 

Are you where you want to be, or do you need to adjust your spending behavior? 

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