“14 to 20, I lost weight, took care of myself, and stopped cutting my hair.”
Now that you know how much you can expect to bring home, you can divvy up your paycheck. Here’s a general guide to help you budget your money to make sure your expenses are covered. You may have to make some adjustments for your situation. If you spend less on housing, for example, you can put the extra money from that category toward paying down debt. The dollar figures in parentheses are based on our above example of a $35,000 gross salary with a monthly take-home pay of $2,110 per month after taxes and other deductions.
In terms of dollar figures, this actually breaks down pretty close to the lines of what things will actually cost you. Housing, of course, will vary depending on your location and also on whether you live alone or with roommates. Debt repayment is another wild card for which you may have to make adjustments. But for now, let’s take a closer look at the utilities and household expenses categories.