• How to Spend Your Money

  Filed under Budget, Finances, Money Saving Tips
  Apr 9

  This is a simple post, short and sweet. Lots of people often ask how they should divide their paycheck up. Well, that all depends on how much you make. If your rent/mortgage costs 75% of your income, then that’s different than if it only costs 25% of your income.

  Regardless, most people should divide their paycheck like this:

  Rent/Mortgage: 30%
  Groceries/Food: 10%
  Utilities: 10%
  Debts: 10%
  Auto/gas: 5%
  Household: 5%
  Discretionary Allowance: 5%
  Savings/Investments: 25%, everything else

  The average person would be wise to structure their monthly income this way.

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