The Complete Retirement Planner Blog
Percent Of Income To Allocate To Each Expense Category
A common question that arises when itemizing your monthly expenses is, "what percent of my income should be allocated to each expense category?". Unfortunately, there is no "one size fits all" answer to this since everyone's circumstances are unique - a person may spend a higher percent for rent in New York City but have no car expenses, or live in an area where you spend much less for rent but then own a car (or two). However, while there's no need to over-analyze every last category, it's still a good idea to be aware of what percent of your...