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6. Entertainment – $3,500
New electronical equipment, subscriptions and entertainment services
This probably isn’t news to you, but the biggest expense for singles, married couples and couples with kids is housing at $2,025 per month. Keeping a roof over your head costs a lot of dough. And this category doesn’t just include rent and mortgage payments. It also includes property taxes, homeowners insurance, repairs, gas and electric bills, and furniture. To avoid being house poor (aka spending too much money on housing), keep your rent or mortgage (plus insurance, taxes and any HOA fees) at no more than 25% of your take-home pay.
