MONTHLY
SPENDING
GUIDELINES
Guidelines provided by Catey Hill, financial expert and author of Shoo,
Jimmy Choo! The Modern Girl's Guide to Spending Less and Saving More
SALARY
$36,000*
*Average income for women age 25 to 33 based on the 2014 Census
SPENDING GUIDELINES AS A PERCENTAGE OF INCOME
WITHOUT
13-20%
15%
5-15%
excluding mortgage and car loan
12%
10%
SAVINGS
INSURANCE & HEALTH CARE
ENTERTAINMENT, CLOTHES & MISC
CAR & TRANSPORTATION
FOOD
RENT & HOUSING
5%
BILLS & UTILITIES
DEBT
30%
WITH
HIGH INTEREST
DEBT
like credit card debt
SPENDING GUIDELINES AS A PERCENTAGE OF INCOME
RENT & HOUSING
PAYING OFF DEBT
FOOD
INSURANCE & HEALTH CARE
ENTERTAINMENT, CLOTHES, MISC
CAR & TRANSPORTATION
BILLS & UTILITIES
TIPS FOR HIGH INTEREST DEBT:
SAVINGS
People employed by a company, take advantage of employer's contributions
and put personal savings toward paying off debt; Freelancers & independent
contractors, put extra money toward paying off debt
ENTERTAINMENT, CLOTHES, MISC
Reduce this as much as possible and put it towards debt payment
PAYING OFF DEBT
Pay as much as you can on your highest interest debts and the minimums
on others
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