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Percentage of income

Does anyone know what percentage of their income should be spent where? For example I've heard 10% of your paycheck should go to savings what about groceries, cable and internet, phones, utilities etc? Thanks

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Anonymous

Asked by Anonymous at 4:29 PM on Mar. 20, 2009 in Money & Work

Answers (3)
  • 10 % of anybodies income should go to GOD ,which means give it to the church.
    proudmommyof180

    Answer by proudmommyof180 at 10:02 PM on Mar. 20, 2009

  • We do 10% to tithe, 10% to Savings and the rest is devided up into bills,food, gas, and fun money.

    lstrickland

    Answer by lstrickland at 10:34 PM on Mar. 20, 2009

  • Ok- straight from my Dave Ramsey Financial Peace software, here are the recomended percentages...
    Giving 10-15%
    Saving 5-10%
    Housing 25-35%
    Utilities 5-10%
    Food 5-15%
    Transportation 10-15%
    Clothing 2-7%
    Medical/health 5-10%
    Personal 5-10%
    Recreation 5-10%
    Debts 5-10%

    Hope that helps!
    MissAlisabeth

    Answer by MissAlisabeth at 8:36 AM on Mar. 21, 2009

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