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Guidelines for Reducing debt
Written by Azhar Laher   
Thursday, 25 February 2010 20:30

Guidelines for Reducing Debt

Getting, and keeping, your debt in line with recommended budgeting guidelines, is an important step when reducing debt. Here are some recommended budgeting guidelines:   

  • Housing 35%: Mortgage or rent, taxes, repairs, improvements, insurance, and utilities.
  • Transportation 20%: Monthly payments, gas, oil, repairs, insurance, parking & public transportation.
  • Debt 15%: Credit cards, personal loans, student loans & other debt payments.
  • Other expenses 20%: Food, insurance, medical and dental bills, clothing & personal.
  • Investments & Savings 10%: Real Estate,Stocks, bonds, cash reserves, retirement

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Last Updated on Sunday, 02 May 2010 14:44