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.
- I spend around 21-24% on my mortgage payment, home insurance, PMI
- 18% on my car payment, car insurance, maintenance and gas
- 15% on food
- 0% on health insurance since we are both very fortunate to have free very good health insurance
- 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)
- 2-3% on clothes
- And the rest on saving, miscellaneous, etc.
How do your expenses add up?