Thursday, August 23, 2007

how much should i spend on...?

the following percentages are roughly how much of your monthly net income should be spent on each category. good to know! :-P

  • Housing: 20-30%
  • Utilities: 2-10%
  • Transportation: 2-5%
  • Food and Personal: 12-25%
includes clothing, groceries, entertainment, dining out, dry cleaning, and hair cuts.
  • Debt Repayment: 5-15%
if you spend more than 15% on these payments, you may need to make some budget adjustments.
  • Insurance: 2-5%
for health, life, auto, and renter's/home owner's insurance
  • Health Care: 5%
a resource for when insurance will not cover something.
  • Savings: 5-10%
for unexpected expenses, emergencies, or vacations.
  • Miscellaenous: 1-2%
this could include out-of-pocket expenses, convenience items, magazines, newspapers, and other small purchases.

[via http://www.spsu.edu/finaid/exitcoun/Budget.html.]

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