Guidelines for Reducing Debt
Getting, and keeping, your debt in line with recommended budgeting guidelines, is an important step when reducing debt. Here are some recommended budgeting guidelines:
Getting, and keeping, your debt in line with recommended budgeting guidelines, is an important step when reducing debt. Here are some recommended budgeting guidelines:
- Housing 35%: Mortgage or rent, taxes, repairs, improvements, insurance, and utilities.
- Transportation 20%: Monthly payments, gas, oil, repairs, insurance, parking & public transportation.
- Debt 15%: Credit cards, personal loans, student loans & other debt payments.
- Other expenses 20%: Food, insurance, medical and dental bills, clothing & personal.
- Investments & Savings 10%: Real Estate,Stocks, bonds, cash reserves, retirement