Personal Budgeting/Finance

Income Vs Expenses

  1. TJHALG
  2. SherryC

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1.   Jul 12, 2006 6:44 PM

» TJHALG - Personal income vs expenses

I am wondering what a good ratio would be for set expenses (ie Mortgage, elect, food, gas, etc) vs total household income? Any references?
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-- posted by TJHALG

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2.   Jul 13, 2006 11:39 AM

» SherryC - Personal income vs expenses

In response to Personal income vs expenses posted by TJHALG:

What an excellent question. While there aren't any concrete ratios that will fit everyone's budget, here are some guidelines. Keep in mind that this will need to be adjusted based on where you live. For example, if you live in a city where rents are quite high, then the housing will need to be adjusted.

Housing - 30%
Transport - 18%
Food - 15%
Clothing - 5%
Recreation - 5%
Medical - 5%
Utilities - 5%
Savings - 5%
Debt - 4%
Miscellaneous - 8%

Based on the Visa Budget Guidelines Site: http://usa.visa.com/personal/using_visa/...

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-- posted by SherryC

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