Question: How Much Of Your Income Should You Spend?

How much of your income should you spend on fun?

10 percentSo what’s the most you should be spending on leisure activities and entertainment, or what you might call ‘fun’.

According to Corley, the magic number is 10 percent of your monthly net pay, or what you take home after taxes and other deductions..

What percentage of your income should be fixed expenses?

50%Fixed costs should take up 50% of your income. Variable costs that can change from month to month, such as entertainment, groceries, and clothing. Variable costs should take up 30% of your income. Savings, which should take up 20% of your income.

What percent of income should be left after bills?

20%You should spend at least 20% of your after-tax income repaying debts and saving money in your emergency fund and your retirement accounts.

What is a good amount of spending money per month?

Ideally, you want to put at least 20 percent of your take-home pay into your savings account (for emergencies and other short-term expenses) and investment accounts (for future goals), leaving you 80 percent to spend each month.

Is 5000 a month good?

In places like California, $5000 a month might be considered poverty level. But you can live very comfortably on that income in most of America. Depends where you live. In some places 1500 might be enough but you would be on the edge with 5000 in Sf.