Budgeting Tool

My basic idea for the project was to develop a tool where someone inputs there household salary and number of people living in their household and outputs the recommended amount of money that should be spent on food, entertainment, put into savings, house notes, car notes, cellphone bills...

The tool does not have to be quite that detailed, on the other hand it could be a lot more detailed, it just depends on how much work we want to put into it. It could be simplified to just amount one should spend on expenses(instead of each individual bill).

Let me know what you all think of this idea and other ideas that you have.

Thanks,

Josh

I really like this idea, we could give a breakdown on what they could spend and depending on how detailed we wanted to make it, we could have questions for each purchase regarding importance, financing options, and/or saving options.

Food at home 7.7%
Food away from home 5.4%
Alcoholic beverages 1.0%
Total food and drink 14.1%
Housing 32.9%
Apparel and services 4.0%
Vehicles 9.1%
Gasoline and motor oil 3.3%
Other transportation 6.7%
TotalTransportation 19.1%
Healthcare 5.9%
Entertainment 5.0%
Personal care products and services 1.3%
Reading .3%
Education 1.9%
Tobacco products and smoking supplies .7%
Miscellaneous 1.5%
Cash contributions 3.4%
Personal insurance and pensions 9.9%

I really like those detail ideas, and having those specific details outlined would allow users to move certain percentages around as necessary, for example if someone never uses tobacco products, or is no longer spending money on eduction they can add or take away from that category and put it toward another.