Erin Burt walks through a typical budget for someone graduating from college and starting there first job. First she shows the taxes that come out of your paycheck. Here is an example for a $35K/yr job.
Monthly gross pay
$2,917 ($35,000 divided by 12 months)
$2,113 per month ($25,356 per year)
And then she provides a budget for the rest.
30% ($634) Housing
10% ($211) Utilities and other housing expenditures (including renters insurance)
15% ($317) Food (at-home and away)
10% ($211) Transportation (including car loan)
10% ($211) Debt repayment (student loans and credit cards)
10% ($211) Saving
5% ($106) Clothing
5% ($106) Entertainment
5% ($106) Car insurance and miscellaneous personal expenses
This entry was posted by David on April 9, 2007 at 5:44 pm, and is filed under Uncategorized. Follow any responses to this post through RSS 2.0.Responses are currently closed, but you can trackback from your own site.