Introducing The 60% Budget

I have never been much of a saver, but after a few months into the working world, I realized how much of a priority it should be. Income may not always be stable and unexpected things are surely going to happen. Hence, this is why I'll be following the 60% budgeting tip from Getting Rich Slowly. It's simple. It's quick. It's damn effective.

• 60% to Committed Expenses such as taxes, clothing, basic living expenses, insurance, charity (including tithe), and regular bills (including things like cable).
• 10% to Retirement.
• 10% to Irregular Expenses such as vacations, major repair bills, new appliances, etc.
• 10% to Long-Term Savings/Debt — money set aside for car purchases, home renovations, or to pay down substantial debt loads.
• 10% for Fun Money to be used for dining out, hobbies, indulgences, etc.