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Q: How do we cover all our expenses without running dry at the end of every month?

Diana says...
Visualizing your monthly expenses can help remind you of your outputs. Think of a pie chart that’s cut into chunks of expenses. Write down all the major categories you have to cover each month (rent/mortgage, transportation, entertainment, utilities, credit card expenses/personal loans, car and house insurance, groceries, eating out, clothing, vacations, emergency fund). And don’t forget to portion a piece for savings. No more than 30 to 35 percent of your monthly income should go toward rent/mortgage payments, according to some financial experts. So that leaves about 65 percent of the pie left to share with your other expenses.

Diana Cawfield is an award-winning financial writer with more than 10 years experience. Send her your questions here.