The 50/20/30 budgeting method - Deepstash

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The 50/20/30 budgeting method

The 50/20/30 budgeting method

With the 50/20/30 budgeting method:

  • 50% of your monthly spending goes toward essentials - your home, your food, etc.
  • 20% of your monthly spending goes toward savings goals. It also includes paying down debts as it helps you build savings later.
  • 30% of your monthly spending goes toward everything else. That might include travel, gifts, and dining.

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MORE IDEAS FROM THE SAME ARTICLE

Play around with your monthly budget to see where you can reduce your monthly spending:

Debt payments may look confusing when you add it to the savings column. But the easiest way to build up a savings balance is not to have your money go toward debt. Once your debt is paid off, you can increase the savings.

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