Whether your bottom line has been hurt by the economy or not, chances are your financial future has been on your mind. Many people have made it a priority to get their personal finances back on track.

Today’s post about creating a family budget is the first in a series of several posts about making 2010 a great financial year for your family.

Experts recommend using the 70-20-10 rule to have a successful roadmap for spending. Here’s how they break down your monthly paycheck:

• Living expenses should consume 70 percent of your budget. This includes housing, food, utilities and transportation.

• Twenty percent should split three ways, with the first 10 percent going towards retirement. (See next week’s post for more information on planning for retirement.) The last 10 percent should be split in half, with 5 percent set aside for building up your emergency fund (which ideally covers your living expenses for three to six months) and the other 5 percent going towards a specific savings goal (like buying a new car or saving up for a down payment on a house.

• The final 10 percent of your budget should be allocated towards debt repayment. You begin by paying down the highest interest debts first. Once those debts are paid you add the additional money to lower interest debts and pay those off faster. If you’re lucky enough to not have debt, then you can use that final 10 percent to invest in interest bearing savings accounts, CDs, IRAs, etc. You should consult an accountant or financial advisor to make sure you’re choosing what is best for your financial situation.

Other tips for saving:

1. Keep time on your side. It can be fatal to rip open your 401K statement these days, but things are on the upswing and most people still have plenty of years before retirement to recover their losses.

2. Don’t touch your long-term savings to fix a short-term cash flow problem. It can be tempting to dive into your nest egg to put a band-aid on your current problem. Always try to find another solution first.

3. Budget in some fun. It’s unrealistic to think you’ll never go on another vacation or eat another meal out again. Budget in some fun extras and then you can enjoy them when you pull out your wallet to pay that night out on the town instead of feeling guilty.

4. Consult a pro. Sometimes you have to spend a little to save a lot. Call a professional financial planner and get their opinion about your strategy and goals. They may be able to offer you advice that could save you tons of money.

Question: What was the last thing you bought for yourself?