Keep up the good work! Housing and your transportation together make up about 1/3 of your budget. You can maintain this level of spending on these two things relative to your income. Housing and your transportation together make up a little over 1/3 of your budget. Look for ways to bring down the cost of housing or transportation to improve your financial health. This is putting a lot of stress on your budget. Right now, a lot of your income is going toward your housing and your transportation. Right now, almost half of your income is going toward your housing and your transportation. For optimal health, try keeping this number at 30% or less This is the amount of your take home pay that covers all expenses related to housing. Maintain this level of spending or reduce it more for optimal financial health. Spending less than you earn gives you financial stability. Congratulations! This is the foundation for financial health. You can improve your financial health even more by dedicating less of your money to spending. It provides a cushion for when your income may not be the same as it is now. Congratulations! Spending less than you earn gives you financial stability. You're not spending all of your income-in fact you are likely able to save aboug 10% of your gross income. This will bring you peace of mind and give you a little cushion each month. Find ways to cut your spending or increase your income. You probably know this from just being able to cover your expenses each month. You are spending almost everything you earn. Find ways to cut your spending, increase your income, or get benefits to help bring your budget into balance. You probably know this from not being able to cover all of your expenses every month. For optimal health, you want this number to be less than 1. This is the amount of take home pay you use every month. Remember to build up an emergency fund and save for your goals. You can improve your financial health by dedicating even more of your income to savings. You are saving more than your average American. You are saving at least 1/5 of your income. You're saving about $.10 out of every dollar that you make. Just having $500 to $1000 set aside an emergency fund can make a big, positive difference. If you haven't, make sure you have a dedicated emergency fund, too. Try adding $10 or $20 a week to the amount you are saving. Your financial health would improve by saving more. Try setting aside $5 - $10 a week or month to start. Even saving a small amount for emergencies will make a difference. Your financial health would improve by saving.
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