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About what percentage of your income do you spend on housing?
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[QUOTE="Learners Quest, post: 9399, member: 250"] When it comes to budgeting your money, one of the most important factors to consider is how much of your income goes towards housing. Housing costs can vary widely depending on where you live, your lifestyle, and the type of housing you choose. So, what percentage of your income should you be spending on housing? The general rule of thumb is that you should not spend more than 30 percent of your gross income on housing costs. This includes rent or mortgage payments, insurance, taxes, and any other housing-related expenses. This rule is often referred to as the “30 percent rule.” However, it is important to note that this is only a general guideline. Your individual situation may require you to spend more or less than 30 percent of your income on housing. For example, if you live in an expensive city or have a large family, you may need to spend more than 30 percent of your income on housing. On the other hand, if you live in a rural area or have a smaller family, you may be able to spend less than 30 percent of your income on housing. [/QUOTE]
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