This question is about average monthly expenses.

What is a reasonable monthly budget?

By Zippia Team - Sep. 1, 2023

A reasonable monthly budget should follow the 50-30-20 rule. This rule is a budgeting plan where 50% of your income is spent on needs, 30% on wants, and 20% goes into your savings.

This plan would put you well above the pack when it comes to savings, as only 16% of Americans save more than 15% of their annual income. For example, if you made $50,000 per year, this plan would allow you to save $10,000 in that same year.

It also helps you manage your expenses, so you can determine whether or not you're spending too much and if you need to trim down what you're spending.

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