Unlock Hidden Money Secrets: 5 Budget Hacks No One Tells You Between Jobs
Ideally, never let your housing budget exceed 30 percent of your take-home pay, and for homeowners, that total also counts homeowner’s insurance and property tax. Typical home repairs vary, but it’s wise to budget that in, too, even for renters, who may be responsible for damage they contribute to or cause.
Most don’t live in ideal circumstances. Half of your monthly take-home pay gets put toward the mortgage or rent, especially when between jobs. Try living by the 50/20/30 rule where you still have flexibility but maintain a healthy budget for home and living expenses:
