2007-03-24 17:56:22 · 4 answers · asked by bJ 1 in Business & Finance ➔ Credit
Rent 25%
Utilities 10%
2007-03-24 18:01:16 · answer #1 · answered by bernel1403 5 · 0⤊ 1⤋
It should be as low as humanly possible. This is YOUR money. Money makes money. The farther you can live below your means, the better, because that means more money to invest with, set up a retirement plan with, save with, etc. So, if you make 60k a year and can survive off of 15k a year, do it. That's 45k that can be compounding interest (min 5% with online savings accounts). It all depends on what you want. If you want tons of furniture, super big tvs, and an overpriced car, get it. Save 10% if you can or not, because that's all immediate gratification. It's really all up to you. Now or Later.
2007-03-25 00:05:49 · answer #2 · answered by ? 2 · 1⤊ 0⤋
At most 80%. 10% for tithe and 10% for savings. Trust me on this one, live on at most 80% and you will have money to fall back on when hard times come (and they will come) and you will realize where your money comes from! Its great that you are thinking ahead about this one, fix any thing that you need to fix now, you will be grateful later, one more thing, AVOID CREDIT AT ALL COSTS! I cant stress this enough. Each credit card you take on is like taking on another 50 dollar a month bill, also if you figure it out, it will take you over 10 months to pay off a 1000 dollar credit card! Save instead!
2007-03-24 18:01:58 · answer #3 · answered by psalms912b 2 · 0⤊ 2⤋
The rule of the thumb is save 20% of your gross income. Rest - you decide.
2007-03-24 18:05:55 · answer #4 · answered by SGElite 7 · 1⤊ 1⤋