Your Biggest Money Problems, Solved

Two Tips for Living Within Your Means

"The key for any couple trying to save money is that you have to spend less than you make," says financial planner Michael B. Rubin. Here are two quick rules of thumb.

  • Your housing expenses, which include rent/mortgage, real estate taxes, and homeowner's insurance, should not exceed 28 percent of your gross monthly income.
  • Your debt, including your mortgage, credit cards, student loans, car loans, etc., shouldn't exceed more than 36 percent of your gross monthly income.

Originally published in the June 2008 issue of American Baby magazine.

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