Question

What is the maximum percentage of net spendable income that should be set aside for food?

Answer 1

The maximum percentage of net spendable income that should be set aside for food is around 10-15%.

Step-by-step explanation:

In terms of budgeting, a common guideline is to allocate about 10-15% of your net spendable income for food expenses. This percentage allows for a reasonable amount to be spent on food while leaving enough to cover other essential expenses. For example, if your net spendable income is $2,000 per month, you should aim to spend around $200-300 on food.

It's important to note that this guideline is flexible and can vary depending on individual circumstances, such as personal preferences, dietary needs, and financial goals. Some people may choose to spend more or less on food, but allocating around 10-15% is a good starting point.

Answer 2

The maximum percentage of net spendable income that should be set aside for food is approximately 15%. It can vary from person to person but for mot people this percentage should be the standard. The budget allocation for every spending is required for making a savings from the gross monthly income.