There’s a new fad diet out there called the 80-10-10 diet. This refers to the amount of calories you intake and what percentages of each type of calories you need. According to the 80-10-10 diet, you would want make sure that your calories come from 80% Carbohydrates, 10% protein, and 10% fat. I’m not a health expert, but something in me says I need more protein than that! When it comes to dieting, you’ll find all sorts of conflicting information regarding what you should eat and how much of each. The Zone diet, for example, has it’s percentages around 40% carbs, 30% protein and 30% fat. How you do know which one is right? Try them out and see. If it works for you, then it must be right, right?
When it comes to using your money however, you don’t want to play around too much to see what works and what doesn’t. There are 3 things you can do with the money you earn. You can SPEND it, or SAVE it, or GIVE it away. Everyone spends. Most people don’t save. Even fewer people give away a substantial portion of their income. Most people are on the 100% spend plan, and find that they are NOT happy nor have they built up a sizable nest egg to ensure future security. If this is you, try a new approach. Try living on less than you make. How? Try the 80-10-10 budget plan. This means SPEND 80%, SAVE 10%, and GIVE 10%.
Some people have a hard time with this. To some people, asking them to SAVE 10% seems totally outrageous and asking them to GIVE 10% is utterly ridiculous! Doing BOTH seems impossible. I’m here to assure you that it’s not. I’m also here to tell you that your best FINANCIAL life CAN be accomplished by having a proper balance of all three uses of money.
Giving 10% – Giving your money away, to a church, to a charity, or to a great cause, not only benefits those whom you give to, but it benefits YOU. When you give your money away freely, with no strings attached, you feel good about yourself. Even better than giving money away freely is to do it ANONYMOUSLY. When you give, just for the sake of giving, you open the door to receiving more. It’s a phenomenon that’s been around as old as time. What you sow you will also reap. When you give your money away selflessly, new opportunities and blessings find you.
Save 10% – This is the pay yourself first principle. This is setting aside 10% of your income for your retirement consistently over your working life. This ensures that you will have a nest egg large enough to sustain you in your later years, IN LUXURY. However.. there is one caveat I’ll mention now before continuing. If you have debt, then this 10% should be used towards eliminating your outstanding debt instead of saving. Once all your debt is eliminated, then you can begin saving and investing your 10%. For more information about eliminating debt quickly Click Here…
Spend 80% – This is for the rest of your monthly expenses. Budget the everything else in your life with this remaining amount.
You’ll find that by doing this.. you’ll be a happier person in general… because it feels good to give… because your debts are going down or your savings is going up… and you are living below your means.
What about you? Do you think it’s possible to live this way? Do you think it’s possible FOR YOU? Why or why not?
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