Is there any ideal % & other categories of salary outgo as a monthly/yearly expenses to meet all needs or to balance all aspects of life
Following is an exmple of salary outgo where it has been try to meet all requirements. % may get changed with person to person but it should be within any given range.
Sr No Text Monthly Part %
1 Home Loan EMI 11000 22.00%
2 Regular Household Expenses 10000 20.00%
3 Term Plan 1000 2.00%
4 Health EMI 1000 2.00%
5 SIP for MF 5000 10.00%
6 Tax Planning 1500 3.00%
7 Contigency Fund 5000 10.00%
8 Parent’s Care 5000 10.00%
9 House Expenses Additional 5000 10.00%
10 Travel & Related 3000 6.00%
11 Holiday 2500 5.00%
Total 100.00%
Monthly Takehome 50000