The quick and dirty on budgeting

Yahoo! finance expert Farnoosh Torabi breaks down how much of your money should be going to each of your expenses.

Torabi suggested about 20 percent stored away into savings and up to 30 percent for rent or mortgage payments. She also recommended a budget of 15 percent for transportation, auto insurance and gas.

How much money do you put away for savings, auto insurance and other expenses? Tell us in the comments.

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