Question

How does a person's life situation affect goal setting and amounts allocated for various budget categories?

Answer 1

Depending on if a person is single, married, or married with children, they will have very different goals (college, car, vacation, or kids college saving plans).

The conditions that each individual face in our life are very unique and that condition will include a certain needs that go along with it.
For example, if you're single, you are much more likely able to live without strict budget because you do not have responsibilities such as buying expensive baby foods.