I made this flowchart to illustrate where our money comes from and where it goes. It was super useful and enlightening to create, and I’ve kept it up-to-date over the years. It helped with creating a Budget, figuring out the right amount for our Individual Retirement Accounts and 529 Accounts, and for “aiming” our tax contributions. Here’s the most recent version, with the actual numbers redacted. Ours includes the 50-30-20 Rule for budgeting.
Source
- Self.