Using a budget is one of the key ways to manage your money and pay off your debt. However, sometimes it does not always go as planned. Sometimes we get our paycheck and spend it on wants instead of actually spending it on our accumulated debt. It is very easy to overspend and as a result, the numbers of your budget do not match up.
When pondering the amount to save, you must first try to calculate your future retirement needs, wants and a realistic idea of what your living expenses and bills might be. Mentioning needs and wants does not necessarily mean that you will go out and buy everything you want right when you want it, however, there does have to be enough room in your retirement fund to treat yourself. A retirement fund does not simply mean living in luxury; it means living with the comfort in knowing that your expenses, needs and finances will be taken care of.