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Keeping track of expenses
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Here are guidelines for what portion of your take-home pay should be dedicated to various expense categories.
Housing (including utilities and supplies): 33 to 35 percent
Food: 18 to 25 percent
Credit payments and car loans: 12 to 15 percent
Transportation: 7 to 9 percent
Clothing: 6 to 12 percent
Medical: 6 to 8 percent
Entertainment and charitable giving: 2 to 10 percent
Savings: 2 to 10 percent
Auto insurance: 2 to 3 percent
Life insurance: 2 to 5 percent
Educational advancement: 1 to 2 percent
Source: www.powerpay.org
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