How should I divide my income — is there a traditional guideline?

the Bhāgavata suggests five shares — for dharma, reputation, growth, enjoyment and family; and avoid debt.

In the Bhāgavata Purāṇa's story of King Bali, wealth is said to be best divided into five parts: for dharma (worship and giving), for yaśas (good name and public good), for artha (savings and investment that let wealth grow), for kāma (one's own reasonable enjoyment) and for svajana (family and dependants). It is not a rigid budget, but a reminder that money has several rightful claims.

Many families also follow the custom of setting aside a tenth or some fixed share for dāna. The Gītā calls a gift sāttvic when it is given as a duty, at the right time and place, to a worthy person, expecting nothing back (17.20).

The tradition is wary of debt. In the Yakṣa's questions in the Mahābhārata, Yudhiṣṭhira says a happy person is one who, even eating simple greens at home, owes nothing to anyone. Live within your means, save steadily, and give cheerfully.

Source: Bhāgavata Purāṇa, Book 8; Bhagavad Gītā 17.20 · Yakṣa-praśna: Mahābhārata, Vana Parva

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