Household Budget Percentage Breakdown
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Household Budget Percentage Breakdown
If your budget doesn't fit the typical American household budget, rejoice! The average American household budget is jacked up - we carry too much debt and we just don't save enough. We're so worried about our neighbor's new pool, our co-worker's new car and our friend's new designer shoes that we spend more than we earn to try and keep up.Whether you have debts or just feel that your finances are controlling you and not the other way around, it is time to fight back! Free debt consultation
Household Budget Percentage Breakdown
Budget Percentage
Deciding how much money should be allocated to various categories in a family budget depends upon the particular family's income, lifestyle, and financial goals. The following ranges of percentages, however, can serve as guidelines:Selected Budget Percentage Guidelines for Spending
Housing - - - - - - - - - - - - - - - 33-35%
Food - - - - - - - - - - - - - - - - 18-25%
Transportation - - - - - - - - - - - - 7-9%
Clothing - - - - - - - - - - - - - - 6-12%
Medical - - - - - - - - - - - - - - - 6-8%
Automobile Insurance - - - - - - - - 2-3%
Life Insurance - - - - - - - - - - - 2-5%
Credit Obligations - - - - - - - - - 12-15%
Savings - - - - - - - - - - - - - - - 2-10%
Recreation/Entertainment - - - - - - 2-6%
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