Description

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Recurring:

Expenses that happen on a regular basis that you are committed to pay

Reserve:

Expenses that you know will happen but you're not sure exactly when or how much they will be.

Discretionary:

Everything else

Steps:

1. Take your income
   
   
2. 10% for charity
   
   
3. 10% for investing
   
   
4. Fund recurring items
   
   
5. Take 10% of what is left for reserve
   
   
6. The rest goes to discretionary income
   
   

Track your expenses and subtract them from your saving categories