NEEDS 50%
- Housing
- Food
- Transportation
- Medical
- Expenses
- Essential Debt
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Similar ideas to NEEDS 50%
The 50/30/20 Rule
It breaks down your budget categories into three broad segments:
- 50%: Essential Expenses like housing, automobile expenses, groceries, insurance, utilities, etc.
- 30%: Discretionary Expenses (Non-essential) like Dining out, entertainment, drinks, etc.
Allocating expenses
The most common buckets are:
- Expenses, or your needs: housing, food, transportation, clothing, insurance, childcare, etc.
- Debt - monthly debt obligations: personal loan, student loan, auto loan, and credit card payments etc.
- Savings, including fund...
50%: Needs
Needs are those bills that you absolutely must pay and are the things necessary for survival. These include rent or mortgage payments, car payments, groceries, insurance, health care,
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