According to at least one financial planner, you should spend about five percent of your monthly tax bill on your clothing. So, if you take in $3,500 after taxes, your clothing budget should be $175/month. If you bring home $5,500 a month, then you can bump your budget up to $275/month.
How much should I give my teen for clothes?
A reasonable clothing budget for a teenager can range from $50-$100 a month and should get the necessities needed for everyday life while in school. A monthly clothing allowance ranging from this amount is enough for teenagers to buy most clothes, including sweaters, jeans, and underwear.
What is a reasonable clothing allowance? According to Dunn, you should spend 5% of your monthly income on clothing. To find the exact dollar amount you need to spend per month, multiply your take-home pay by 0. Read also : Does the Queen dress herself?.05. For example, if your monthly salary is $3000, you should spend about $150 per month on clothing.
How much does the average person spend on clothes a month?
The average household spends on clothing per month is about $120 (that’s $1,434 per year). That number includes clothing products, and services such as tailoring. On the same subject : What are the 7 rules of money?.
How much should you budget monthly for clothes? Most financial experts recommend spending no more than 5% of your monthly salary on clothing. Depending on your salary and spending habits, the percentage may seem like too little or too much.