Does the SFS need to be revised in the light of the Reasonable Standard of Living Gui

A bit part of the SFS is documenting how much you spend on food, energy, phone etc.

Has this become redundant now that the ISI has issued Reasonable Standard of Living Guidelines?

Surely, you would now say to your bank "We are a couple with two children and one car - therefore it is reasonable to live on €x per month according to the RLGs. That leaves €300 a month to pay towards the mortgage"

Brendan

The SFS is in practice a good idea, as at the very least it will get people who don't like doing up budgets to see where every penny goes. However, I have always found it a little rigid for my own personal reasons, as it is hard to ascertain from it my proper P&L - I find it much easier to have an excel sheet with all DD's etc running down it. You can see on one page where everything goes as opposed to a 10 page document! Another restriction is it doesn't really accomodate people who have P&L's in different currencies.

A rebuild should probably be put in place to match the "living" guidelines, but I can't see it happening anytime soon.