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Wednesday, October 13, 2010

How Much Should You Spend Per Month?

Ever wonder how much you should be spending on housing? How about transportation? The Consumer Credit Counseling Service has a smart method of determing the about of money you should be spending on the necessities.

Category- Percentage of Take-Home Pay
Housing- 30%
Utilities- 7%
Food- 12%
Medical- 5%
Clothing- 7%
Transportation- 17%
Recreation- 4%
Insurance- 5%
School/ChildCare-3%
Savings- 8%
Mad Money- 2%

Check out their financial education resources page for your organization or yourself! Interactive and print materials abound!