Are You Breaking The Bank?
Are you a heavy spender on clothing?
Do you think you spend more than you should?
Are you curious to know how much you should be spending a month on clothing?
If so, this is the post for you!
According to Pete Dunn, an award winning financial planner, a person should spend 5% of their monthly budget on clothing. To find this number, multiply your take-home pay for the month by .05
For example, if your monthly income is $2,000, you should spend $100 a month on clothes.
However, everyone’s financial stability is different, some can afford to spend more and some may not. But having this 5% in mind gives you a roundabout idea of what you should be spending a month on your clothing goodies.
We don’t want you to break the bank!