That wedge will shrink over time and evaporate completely within the next few years when formal care set-ups for older grade schoolers can be replaced with playing at friends’ houses after school and a more flexible work schedule for me. For instance, right now we spend about 14% of our take home pay on childcare (which is the lowest it’s ever been, in part due to the pandemic). It helps you set up that vision for your life you need to have as part of your money management plan. Or a giant wedge of mortgage to a little slice of property tax sans principal/interest payments some day!įor visual folks, this is a really easy way to start organizing finances. I love the idea of seeing my pie chart change from multiple slices of debt to multiple slices of charitable giving, for example. The total absolute amount is less important for this exercise, but the proportions of how the pieces are divided up are. Why illustrate your money picture with a pie chart?Ī simple way to illustrate how you spend money is with a simple budget pie chart.
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