What is a good budget for a family of 5?
What is a good budget for a family of 5? Average Monthly Expenses: From a Single Person to a Family of 5. In 2022, average monthly expenses ranged from $3,693 for one person to $8,068 for a family of five or more. Try the 50/30/20 model for your own spending.
What is the 75 15 10 rule?
The 75/15/10 method involves allocating 75% of your earnings for spending, 15% for investing, and 10% for saving, prioritizing building wealth through investments rather than relying on savings.