It's an interesting experiment to see where your money goes every month in percentage terms. There are some examples of the considered norm, but every household is different, so these are only a guideline. Here's our breakdown after pension contributions and after tax.
30% Savings
26% Debt
15% Mortgage:
10% Household Bills
10% Misc/Holidays/Life
5% Food
4% Fuel
What does your breakdown look like?
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I'm tracking my spending this month so I'll be able to do this sort of analysis. I know my mortgage is 28% and my total savings is 30%. But some of that savings then gets spent a short time later, my long term savings are lower. These are good analyses to do :)
ReplyDeleteCurrently my debt, including mortgage is at 39.5%, for this year, my loans are higher to get them paid in full in November. Then my debt including mortgage will be 29.16% and savings will be 16.46%. I'm counting down my 2 loans being paid in full in November!!
ReplyDeleteI love to see how others divide up their income. Thanks for sharing, and a thank you for your comment on my blog. I'm not even sure what my breakdown is. I'll have to do that.
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