• Answers
  • Web
Originated from
AOL Search

How much of my paycheck would I ideally spend on ...

How much of my paycheck would I ideally spend on the different areas of my life? iI need full breakdowns of each possible expense you can think of! Please iI need alot of help!


Share Send to a friend Watch Report
 
 

2 Posted Answers
Order by

 
27 helpful answers

my advice would be to find a family member or close friend that you trust and hand over your paycheck. then when your bills come in, let them give you the money to pay them off -and pay them off- so you do not have the money laying around ready to spend. also, one of the greatest saving strategies is to pay yourself first. by that, i mean to put 10% of your paycheck in a savings vehicle, such as mutual funds. the key to this is, have the money, the 10%, taken off before you recieve your paycheck, the company you work for might be able to help, and if not go to your bank. the best book on how to aviod debt and save money, also a good read, not dry and boring, is The Wealthy Barber. this book has helped me immensely in my saving money and learning of my options

Posted 2008-07-18T10:00:45Z
 
261 helpful answers

Well, the goal is to have your income not exceed your outgoing.

I really have no idea what your debt level is, but if can't be paid back in less than 3 years (excluding a mortgage) you better think of getting more money somehow or getting rid of some expensive habits.

I also have to assume you are single, and with no dependents

Typically people pay themselves first (at min 10%) that is for investing and rainy days

Shelter with utilities (anywhere from a 25-65% of your paycheque)

Food (one person is about $40 a week)

Entertainment ($25)

Everything else is up for grabs.  Clothing (you can choose to buy new, or go to value village), you may or may not need a car, etc.

The bigger part is to figure out what you have right now and work on it.  If you can cut bank fees, do it.  Switch to an all cash system, etc.

Here is a great book to get you in the mindset.  It is the price of $0.

Best of luck.

 

Posted 2008-07-29T17:24:08Z
JtotheA was invited by Yedda to answer this question.

Sign in to participate

Got an answer for luis? Would you like to comment on the posted answers, or vote for the one which you think is the best?

Sign up for a free account, or sign in (if you're already a member).

Explore Related Questions

Other people asked questions on similar topics, check out the answers they received:


Q:

Finance assessment help

Please I need help for this assignment as soon as possible Also please used current betas from Google, www.google.com/finance Find ...
Submitted by apouky   8 months ago.
  • viewed 479 times
Last answer posted 3 months ago by chuck johnson 111


Q:

Financial Investment Companies

Can someone refer me a consultant/consultants from different financial investment companies ?
Submitted by stanleyladner   3 months ago.
  • viewed 590 times
Last answer posted 2 months ago by lawofattraction


Q:

Retirement Income Replacment Question

How do most people plan on being able to generate enough retirement income to sustain a 35+ year retirement? Michael J ...
Submitted by AggieAdvisor   2 years ago.
  • viewed 774 times
Last answer posted 2 years ago by DemosSoft



» More...

Be The First To Answser

Other people asked questions on various topics, and are still waiting for answer. Would be great if you can take a sec and answer them

» More...
Feed - Subscribe to changes to this Q&A Blog
ADVERTISEMENT
  • Answers
  • Web
Copyright © 2006-2010, Yedda Inc. and respective copyright owners · CC License