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Budget guidelines
Housing costs should make up approximately 35% of your monthly expenses. Housing costs include mortgage/rent, taxes, utilities, insurance, and repairs.
Transportation costs should make up approximately 15% of your monthly expenses. Transportation costs include car payments, gas, insurance, repairs, parking, tram/train fees.
Debt payments should make up approximately 15% of your monthly expenses. Debt payments include student loans, credit cards, and personal loans.
Other living expenses should make up approximately 25% of your monthly expenses. Debt payments include eating out, vacations, entertainment, clothes, and medical expenses.
Savings should make up approximately 10% of your monthly expenses. Savings include retirement planning, emergency funds, and investments.
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