Apart from housing, food is one of the biggest essential expenses — the average American person spends $2,792 per year on food (or $233 per month). When it comes to budgeting for food, every situation is different. In general, you should target 5-7% of your annual income for food spending as an individual, but no… Continue reading How Much Should I Spend On Food?
Category: Budgeting
How much should I be spending on rent?
Housing is usually our biggest expense. With a rising cost of living in many cities across the country, people are spending more and more of their income on rent. But how much should you actually spend on rent? If you look online, you’ll see the number 30% thrown around a lot, which means that you… Continue reading How much should I be spending on rent?
How much money should I be spending?
When you get your paycheck, there’s a lot of freedom. There’s technically nothing stopping you from blowing all your money on a shopping spree. That’s why budgets exist, to help guide your spending so it aligns with your needs and priorities. While your exact budget depends on you and your priorities, there is a generic… Continue reading How much money should I be spending?
Breaking the Paycheck to Paycheck Cycle
Have you ever felt like you could never get ahead of your bills? Like you’re just scraping by to get to paycheck Friday, just to immediately have your account drained by all your financial obligations? Being stuck in the paycheck to paycheck cycle can be frustrating. Maybe it’s even discouraging, preventing you from thinking you’ll… Continue reading Breaking the Paycheck to Paycheck Cycle
3 Easy Steps to Start Budgeting
We’ve all been there: standing in the checkout line and checking your bank account to see if you have enough money to make that purchase. The problem with that, though, is that your checking account doesn’t tell you what your money is supposed to do. What if that fancy salad bowl was actually supposed to be your… Continue reading 3 Easy Steps to Start Budgeting