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What is the maximum percentage of net spendable income that should be set aside for housing? A) 25% B) 38% C) 36% D) 28%

Blair Lewis

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Theresa Perry on July 4, 2018

Response;-38 %Explanation;-Budget busters are the large potential problem areas that can destroy a budget. The failure to control even one of these problems can result in a financial disaster.-The house has about 38 percent of your monthly budget. Housing decisions should be based on the need and financial capacity, not by internal or external pressure.-Foods account for 12 percent of your monthly budget. The reduction of a family's food bill requires quantity and quality planning.-Transportation (purchase and maintenance), takes 15 percent of your monthly budget, Debts takes 5 percent of Net Available Income, Insurance takes 5 percent of Net Available Income assuming an employer provides medical insurance, Recreation/Entertainment takes a 5 percent Net Available Income, Clothing takes 5 percent of Net Available Income, the Medical and dental takes 5 percent of Net Available Income and Savings to take 5 percent of Net Available Income.


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