When we get a paycheck:
10% tithing right off the top
Then, with the remainder (net minus tithing), I divy it up into percentages and put money into different "funds" -- that I keep track of in the back of my paycheck because I'm old school like that.
Mortgage: I figure out the percentage it will take to cover my mortgage. Usually 29-30%. I think this percentage needs to stay under 35% of take-home after tithing.
Baby steps: 20% goes to meeting financial goals a la Dave Ramsey's baby steps. This means that you focus on one thing at a time, leaving the rest so that your money is not so thinly spread and you can make visible progress. This presupposes that one has abandoned using credit, and is working to get out of debt aggressively. The baby steps are: (1) $1000 in the bank as an emergency fund (so you won't put emergencies on the card) (2) pay off all debts, smallest to largest (3) three to six months' expenses in a liquid, interest-bearing account (4) 15% of income in retirement account such as 401k or Roth IRA (5) kids' college funds (6) pay off the house (7) invest, build wealth, and be generous with it. I choose to put some of our tax refund every year into the kids' college 529 plans, so that takes care of that baby step for us. Currently, we are working on getting our retirement account fully funded at 15%. Whatever percentage we have coming out of our paycheck into 401k, I subtract that amount from the 20% that I put into this fund. For example, right now, we have 10% deducted from paycheck into 401k, so when I am divying up the net paycheck, I take an additional 5% and put it in an IRA for retirement, making for 15% total (and not worrying about whether that money is pre-tax or post-tax), and then I put another 5% extra on the mortgage payment because that is the next baby step we are working on. When we change our 401k allocation to take out 15%, the percentage that I use toward the baby step fund will be 5%, and that money will go toward extra on the house. Does that make one ounce of sense?
Charity: I take 5% of our net after tithing and put it in the "Charity Fund", out of which I can pay fast offerings, donate to the school, buy girl scout cookies, buy groceries for the neighbor in need, etc. This allows me to be generous to such causes, and then when the money is gone, it's gone and I can say no and not have guilt.
House: 5% goes into a fund for home maintenance, repairs, appliances, etc. Mostly for things that will stay with the house when we sell it.
Travel: 5% to fund my need to see the world. All expenses while on vacation come out of this fund.
Car: 10%, or more if I can swing it. Everything car-related comes out of this including insurance, gas, repairs, registration. Any more left over in this fund gets saved up toward paying cash for a new car eventually. Also, Steve's bike repairs come out of this, which is sort of cheating. It's nice to have a car fund because when gas goes up, I know just how much I have to spend and I don't have to stress that it's eating into the grocery budget.
Then, I give a fixed amount to the Steve fund for him to spend on whatever he wants (yes, he gets an "allowance", so to speak). He buys lunches, clothes, books, whatever-- wants, mostly -- with this money and he doesn't have to save receipts for me to balance the checkbook. Steve is always generous with "his" money and when I've spent the monthly budget on various things, he will pull through and take the family out to dinner, "on him". He's awesome. Also, I get a much smaller amount each month to spend on myself for clothes, shoes, makeup, etc.
Usually, about 30-35% of our net income-after-tithing is left over and I just keep that available to pay bills, buy groceries, entertainment, gifts, haircuts, shoes for the kids. Everything else. For some people, it would be helpful to budget specifically for utility bills, groceries, and other expenses, but I just take it all out of the leftover money, after our other "funds" are funded.
I think that covers what I do with each paycheck that comes in. Please ask me to clarify anything that doesn't make sense, or share what works for you!
EDIT: I certainly did not intend for this post to be offensive to anyone, but alas! it has come to my attention that it has done just that. I am not trying to brag that we have money to put aside for things that we want. I am sorry if it comes across that way. There are multitudes of things that we do without because we cannot afford them. I am trying to convey the principle of living within one's means. It is a principle I believe in and one that has brought peace in our lives. Like I said, money is taboo, but I wish it wasn't so much so. I think we ought to be able to help one another, as money is such a pervasive part of our existence, for good or ill.