16 May Learning How to Budget Your Money
Something everyone should learn how to do when they become adults is how to divide paychecks. Schools should to really teach this to all students, no matter what they major in, because it is extremely helpful. Knowing how you spend every dollar of your income allows you to live comfortably and may just save you in times of serious need; like needing a bail bond.
The rule is 50-30-20. 50% of your paycheck goes to items you need to pay, like rent, utilities, and food. 30% of your paycheck can be spent towards items you want like new clothes and dining out. 20% of your paycheck is to be put into your savings account. Of course, if you have any remaining money from the first two sectors, you should put it into your savings.
The greatest benefit we see to growing that savings account is the room to dip into it in desperate times of need, like needing that bail bond we mentioned. It is not like you save this money expecting to pay for a bail bond in the future, but it is intended as financial security. You can withdraw money from your savings without hindering your need to pay for your necessities.
Baton Rouge Bail Bonds can also help alleviate some of the financial stress of paying for bail by providing you with an affordable bail bond. We will set up a payment plan for you. Our bail agents jump into action to help our clients. So, if and when you need a bail bond, please contact Baton Rouge Bail Bonds today!