50/30/20 RULE

The 50/30/20 rule is a simple way to allocate your money and use it wisely. Following this rule can be helpful for someone who is just starting to learn how to manage their money. 

• Research shows that 66% of Americans do not set a budget for themselves, but setting a budget is important for long-term financial health. 
• According to the 50/30/20 rule, you should divide your money into three categories upon receiving a paycheck: Your essential NEEDS, WANTS and SAVINGS & INVESTMENTS.

• Housing 
• Food 
• Transportation 
• Medical 
• Expenses 
• Essential Debt