Let’s say your gross income is $50,000. That means as a married person using the standard deduction your federal tax bill is about $2672. You also pay $3,825 in FICA and perhaps minor state payroll taxes and possibly state income tax. Let’s say that adds up to another $2,500.
So, what you actually earn is about $41,003 and then there is savings of at least 10% so take off another $5,000 and your standard of living should be based on cash in hand of $36,003 per year. You can boost that a bit by saving on a pre-tax basis.
An income of $36,003 should determine how you live and spend. And most important what debt you use to do it.