Where does your income go?

I just read a great article about how income is distributed to different parts of a typical budget. Check it out here.

How do your finances stack up compared to others? What percent of your income do you spend on your different bills? I think this is a great article to compare your finances to others, and to kind of see where you should be.

For me, these amounts will all be averages and after tax.

  1. I spend around 21-24% on my mortgage payment, home insurance, PMI

  2. 18% on my car payment, car insurance, maintenance and gas

  3. 15% on food

  4. 0% on health insurance since we are both very fortunate to have free very good health insurance

  5. 5% on entertainment (the 15% we spend on food can also be considered entertainment, since we like to go to bars and eat as well)

  6. 2-3% on clothes

  7. And the rest on saving, miscellaneous, etc.

How do your expenses add up?

#Budget #Income


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