![]() ![]() ![]() The 70/20/10 budget rule works by allotting 70% of your income for monthly bills and everyday spending such as cell phones, groceries or utilities, then 20% goes to saving and investing and 10% goes to debt repayment.-Transportation or auto services: 10-15%.-Insurance, such as life, medical, home or auto: 10-25% Breakdown of Cost of Living Budgeting Categories Food: 10 20 groceries / personal care / baby needs Clothing: 3 5 for all members of the family.Though breaking down your budget in percentages is based on your unique financial situation, here is a good general breakdown:.What percentages should you use for your budget?.The remaining half should be split up between 20 savings and debt. The remaining 30% of your income is for discretionary spending. The rule states that you should spend up to 50 of your after-tax income on needs and obligations that you must-have or must-do. Basic Monthly Budget Food, 773, 12.2 Child Care, 1,300, 20.5 Health Care, 522, 8.2 Transportation, 556, 8.8 Miscellaneous, 787, 12.4. That leaves 50% for needs, including essentials like mortgage or rent and food. The popular 50/30/20 rule of budgeting advises people to save 20% of their income every month.The remaining 30 of your income is for discretionary spending. This infographic shows the following budget percentages, 10-20 for Insurance, 10-15 for Food, 10-15 for Savings, 10-15 for Transportation, 5-10 for Personal, 5-10 for Recreation, 5-10 for Utilities, 1-5 for Giving, 25-30 for Housing. The rule states that you should spend up to 50 of your after-tax income on needs and obligations that you must-have or must-do. That leaves 50 for needs, including essentials like mortgage or rent and food. Here are the answers to some of the most frequently asked questions regarding budget percentages. What is the 50/30/20 budget rule The popular 50/30/20 rule of budgeting advises people to save 20 of their income every month. ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |