Expense breakdown - from the Today Show - earlier this week- Budget101 Discussion List

Here's the breakdown based on the household income: 60% of the gross income goes to committed expenses (all taxes, including taxes withheld from pay, mortgage, utilities, car loans, credit card debts, etc.)

car, card, commit, cover, fun, goal, huge, income, living, loa, long, money, pay, retirement, savings, spend, term, today, utilities, week, expenses, taxes, including, breakdown, mortgage, credit, loans, committed, gross, difficult, student, debt, worthy, significant, plans, withheld, show, based, household, debts, long-term/retirement, 401ks, iras, months, short-term/emergency, expense, earlier, college

Results 1 to 4 of 4
  1. #1
    wm_jun99
    Guest

    Default Expense breakdown - from the Today Show - earlier this week

    Here's the breakdown based on the household income:



    60% of the gross income goes to committed expenses (all taxes,

    including taxes withheld from pay, mortgage, utilities, car loans,

    credit card debts, etc.)



    10% to short-term/emergency savings (goal: to cover three to six

    months of living expenses)



    20% to long-term/retirement savings (including 401(k)s, IRAs, college

    savings plans)



    10% for "fun money" (spend it on anything you want)



    It may be difficult to keep your committed expenses to just 60% of your

    gross income, especially if you have a huge mortgage or significant


    credit card debt or student loans, but it's a worthy goal.










  2. #2
    jill pokrivka
    Guest

    Default Expense breakdown - from the Today Show - earlier this week

    > Here's the breakdown based on the household income:

    > 60% of the gross income goes to committed expenses

    > (all taxes, including taxes withheld from pay,

    > mortgage, utilities, car loans, credit card debts,

    > etc.)

    > 10% to short-term/emergency savings (goal: to

    > cover three to six months of living expenses)

    > 20% to long-term/retiremen t savings (including

    > 401(k)s, IRAs, college savings plans)

    > 10% for "fun money" (spend it on anything you

    want)



    I'm guessing groceries and gas goes in the 1st

    category, the 60%? Does that sound right?



    This sounds like a good plan, but I have a feeling if

    I crunch the numbers and apply it to our budget I'm

    going to be surprised (and a little depressed). But

    I'll give it a go...



    Jill



    __________________________________________________



    Tired of spam? Yahoo! Mail has the best spam protection around

    http://mail.yahoo.com






  3. #3
    herberkids3
    Guest

    Default Expense breakdown - from the Today Show - earlier this week

    It sounds about right. One thing I've always heard suggested is that

    housing shouldn't exceed 30% of your income. If you are paying more

    than this, then you can afford to downgrade to make bills easier.









    --- In Budget101_@yahoogroups.com, jill pokrivka <jpoo68@...> wrote:

    >

    > > Here's the breakdown based on the household income:

    > > 60% of the gross income goes to committed expenses

    > > (all taxes, including taxes withheld from pay,

    > > mortgage, utilities, car loans, credit card debts,

    > > etc.)

    > > 10% to short-term/emergency savings (goal: to

    > > cover three to six months of living expenses)

    > > 20% to long-term/retiremen t savings (including

    > > 401(k)s, IRAs, college savings plans)

    > > 10% for "fun money" (spend it on anything you

    > want)

    >

    > I'm guessing groceries and gas goes in the 1st

    > category, the 60%? Does that sound right?

    >

    > This sounds like a good plan, but I have a feeling if

    > I crunch the numbers and apply it to our budget I'm

    > going to be surprised (and a little depressed). But

    > I'll give it a go...

    >

    > Jill

    >

    > __________________________________________________

    >

    > Tired of spam? Yahoo! Mail has the best spam protection around

    > http://mail.yahoo.com

    >










  4. #4
    Herlean
    Guest

    Default Expense breakdown - from the Today Show - earlier this week

    I would think that groceries & gas would be part of the 60% figure. Herlean

    jill pokrivka <jpoo68@yahoo.com> wrote: > Here's the breakdown based on the household income:
    > 60% of the gross income goes to committed expenses
    > (all taxes, including taxes withheld from pay,
    > mortgage, utilities, car loans, credit card debts,
    > etc.)
    > 10% to short-term/emergency savings (goal: to
    > cover three to six months of living expenses)
    > 20% to long-term/retiremen t savings (including
    > 401(k)s, IRAs, college savings plans)
    > 10% for "fun money" (spend it on anything you
    want)

    I'm guessing groceries and gas goes in the 1st
    category, the 60%? Does that sound right?

    This sounds like a good plan, but I have a feeling if
    I
    crunch the numbers and apply it to our budget I'm
    going to be surprised (and a little depressed). But
    I'll give it a go...

    Jill

    __________________________________________________





    \|||/
    (o o)
    ----ooO-(_)-Ooo--------



    To View the List Archives Please Visit http://www.budget101.com/forumdispla...iscussion-List

    Yahoo! Groups Links

    <*> To visit your group on the web, go to:
    http://groups.yahoo.com/group/Budget101_/

    <*> Your email settings:
    Individual Email | Traditional

    <*> To change settings online go to:
    http://groups.yahoo.com/group/Budget101_/join
    (Yahoo! ID required)

    <*> To change settings via email:
    mailto:Budget101_-digest@yahoogroups.com
    mailto:Budget101_-fullfeatured@yahoogroups.com

    <*> To unsubscribe from this group, send an email
    to:
    Budget101_-unsubscribe@yahoogroups.com

    <*> Your use of Yahoo! Groups is subject to:
    http://docs.yahoo.com/info/terms/




    &#32;_____________________________________________ _____





 

 

Tags for this Thread

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •