Budgeting: What is the Quinn-CO System

In the area of budgeting, there various systems that you can take advantage of. One system that is frequently used is the Quinn-CO system. Here are the basics of the Quinn-CO system and how it works.

Quinn-CO System

With this type of budgeting strategy, you are going to divide your expenses into three different categories. Each of these categories is going to be considered as a type of cost center. The three categories of expenses will be fixed expenses, variable expenses, and savings. You will then allocate a certain percentage of your budget to each of these three types of expenses.

Goals

One of the main goals of this type of budgeting system is that you want to get your fixed expenses below 50 percent of your total income. According to the creator of this system, if you get your fixed expenses above this threshold, it becomes very difficult to live comfortably. You will end up trying to take money out of your savings and variable expenses in order to pay the bills. With this system, they also place an emphasis on saving a portion of your income on a regular basis. In this way, you will be able to create a balanced budget for yourself.

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