To find the percentage of the total monthly income set aside for savings, we need to find the ratio of the savings amount to the total monthly income and then convert it to a percentage.
Total monthly income = sum of all the expenses
Total monthly income = Utility bills + Savings + Clothing + Transportation + Housing + Food + Miscellaneous + Education
Total monthly income = $350 + $1000 + $200 + $300 + $900 + $500 + $700 + $1200 = $4150
Percentage of total monthly income set aside for savings = (Savings / Total monthly income) * 100
Percentage of total monthly income set aside for savings = ($1000 / $4150) * 100
Percentage of total monthly income set aside for savings ≈ 0.24096 * 100
Percentage of total monthly income set aside for savings ≈ 24.10%
Approximately 24.10% of the total monthly income was set aside for savings.