Turn on the news and you’ll be flooded with political noise—but let’s cut through the clutter:
What matters most to your family’s financial future isn’t in Washington, D.C.—it’s within your own four walls.
At Gatewood, we help families shift their focus away from the headlines they can’t control and toward the household habits they can. While income tends to steal the spotlight, spending is the real unsung hero of long-term financial independence. Most financial advisors avoid talking about spending—it can feel too personal, too awkward. They fear upsetting clients by confronting sensitive realities. But not us. We believe in honest conversations because financial discipline today lays the foundation for your family’s future freedom.
Clients often ask us: “How much should I spend on housing?” or “Am I saving enough?”
To help answer these, here’s a comparison of how three well-known frameworks—Dave Ramsey, the CFP Board, and CFA-informed guidance—stack up:
| Category | Dave Ramsey | CFP Board | CFA-Informed |
| Housing & Utilities | 25% | ≤ 28% | 25–30% |
| Transportation | 10–15% | ≤ 15% | 10–15% |
| ️ Food & Groceries | 10–15% | 10–15% | 10–15% |
| ⚕️ Health Care | 5–10% | 5–10% | 5–10% |
| Education & Childcare | 5–10% | 5–10% | 5–10% |
| Consumer Debt | 0% | ≤ 10% | ≤ 10% |
| Total Debt (incl. housing) | ≤ 35–40% | ≤ 36% | ≤ 36–40% |
| Entertainment & Personal | 5–10% | 5–10% | 5–10% |
| ️ Miscellaneous | Included in personal | 5–10% | 5–10% |
| ️ Savings, Insurance, and Investments | 10–15%+ | 10–20% | ≥ 15–20% |
| Giving & Charity | 10% recommended | 5–10% (flexible) | 5–10% (flexible) |
At Gatewood, we synthesized the best of all approaches and added real-life insight. Here’s our proprietary guide we call The Gatewood Family Budgeting Guidelines:
| Category | Gatewood Target (±5%) |
| Housing & Utilities | 25% |
| Transportation | 10% |
| ️Food & Groceries | 10% |
| Health Care | 7.5% |
| Education & Childcare | 7.5% |
| Consumer Debt | 0% (yes, zero!) |
| Total Debt (incl. housing) | 25% |
| Entertainment & Personal | 5% |
| ️Miscellaneous | 5% |
| Savings, Insurance, and Investments | 20% (go for more!) |
| Giving & Charity | 10% |
We don’t just preach these principles—we live them. Here’s a transparent look at how my family’s real monthly spending lines up with our own guidelines (below). These figures are after our 401(k) and HSA contributions are maximized. As you will see, the Goeddel family is far from perfect! I hope sharing this information and being vulnerable is helpful to you and your family.
| Category | Gatewood Guidelines (%) | Actual Family Spending ($) | Actual Family Spending % | Notes |
| Housing & Utilities | 25% | $8,400 | 34% | $7,000 mortgage plus extra principal payments; $1,400 bills & utilities |
| Transportation | 10% | $500 | 2% | Just gas—no car payments |
| ️Food & Groceries | 10% | $3,300 | 13% | $2,500 groceries, $600 dining out or delivery, $200 coffee |
| Health Care | 7.5% | $500 | 2% | Out-of-pocket medical |
| Education & Childcare | 7.5% | $2,000 | 8% | 529 Plan contributions for two kids |
| Consumer Debt | 0% | $0 | 0% | None! |
| Total Debt | 25% | $7,000 | 28% | Mortgage |
| Entertainment & Personal | 5% | $3,400 | 14% | Amazon, clothes, date nights, personal care, pets |
| ️Miscellaneous | 5% | $1,500 | 6% | Unplanned monthly expenses |
| ️Savings, Insurance, and Investments | 20% | $3,000 | 12% | Trust contributions + full insurance suite |
| Giving & Charity | 10% | $2,400 | 10% | Charitable giving + gifts to family/friends |
Financial freedom isn’t found in the headlines—it’s built through intentional habits, month after month. At Gatewood, we help families match their money with their values—so they can create meaningful wealth and lasting legacies.
Ready to align your budget with your future? Let’s talk. We’re here to help.
Important Disclosures:
The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual.
Investing involves risk including loss of principal. No strategy assures success or protects against loss.
Dave Ramsey is not affiliated with or endorsed by LPL Financial and Gatewood.