The 50/30/20 Rule is a famous budgeting strategy that divides your income into needs, wants, and savings.
According to this rule, you should need 50% of your income to live your life. You may dedicate 30% of what you gain to buy things you wish. And you should save the remaining 20%.
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Stop Wasting Money! Start Budgeting with the 50/30/20 Rule
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Passionate about self-improvement, personal growth, finance, and creativity. I love to inspire people to become the better version of themselves. Author @ www.cosmopolitanmindset.com
Stop Wasting Money: Master the 50/30/20 Budget Rule for Financial Freedom – Simple Steps to Take Control of Your Finances, Save More, and Achieve Your Long-Term Goals
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Similar ideas to What Is The 50/30/20 Rule
It breaks down your budget categories into three broad segments:
It is a budget rule to help people reach their financial goals. It states that:
Under this method, 50 percent goes to expenses, 30 percent goes to wants, and 20 percent goes to a combination of debt and savings.
A person with a healthy amount of disposable income but loads of debt could probably benefit more from the 50:30:20 method.
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