We’ve all heard the typical budget allocations for the rest of the country — 30% to rent, 20% to transportation, 15% for food. But how does this tie in with New Yorkers who tend to average about 50% of their salary or more on rent? Late last year, CNN posted a budget pie chart to show Americans where they should be allocating their monthly income. But we’re going to take a closer look at how New Yorkers are — or should be — budgeting their money.

This is the followup to our interview with Thrive CEO and Founder, Avi Karnani and Lead Scientist, Matt Wallaert. In our first installment, which you can read here, we talked to them about their work in financial literacy, competition with popular money management site, Mint and how they differ from other financial service companies. In this installment, we’ll find out more on behavioral budgeting and how it works, and how Thrive is working to make banking a better service industry.

We recently sat down with Thrive (a free online personal finance manager) co-founder, Avi Karnani and Lead Scientist, Matt Wallaert to talk about Thrive’s offering to the rapidly evolving world of personal finance. Since we covered a lot of ground, we’re going to publish this interview in two parts: the first of which is below.