6) The 20-5-10 rule recommends that we should be spending no more than 10% of our monthly gross income. So we should answer the question: 10% of what is our estimated monthly vehicle expense? For example, if our estimated monthly vehicle expense is $400, then you must make at least $4,000 a month to safely afford your vehicle since 10% of $4,000 is $400). Make sure that your answer is correct, by verifying that 10% of your answer is equal to your estimated monthly vehicle expense. (k) Multiply your answer from the previous part by 12 to determine what your gross income for the year should be. For example, if your monthly gross income needs to be $4,000, then you must gross $18,000 a year to afford your car. (1) Refer back to question 1; what was your annual gross income and your monthly gross income? (m) The all important question! Did the car you choose fit within the budget constraints of the profession you would like to have? 6) The 20-5-10 rule recommends that we should be spending no more than 10% of our monthly gross income. So we should answer the question: 10% of what is our estimated monthly vehicle expense? For example, if our estimated monthly vehicle expense is $400, then you must make at least $4,000 a month to safely afford your vehicle since 10% of $4,000 is $400). Make sure that your answer is correct, by verifying that 10% of your answer is equal to your estimated monthly vehicle expense. (k) Multiply your answer from the previous part by 12 to determine what your gross income for the year should be. For example, if your monthly gross income needs to be $4,000, then you must gross $18,000 a year to afford your car. (1) Refer back to question 1; what was your annual gross income and your monthly gross income? (m) The all important question! Did the car you choose fit within the budget constraints of the profession you would like to have