You might have a more complex or simple financial plan based on your situation. But the 50/30/20 Rule is the more versatile and adaptable tool you could use. So, it is suitable for most people.
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Stop Wasting Money! Start Budgeting with the 50/30/20 Rule
cosmopolitanmindset.substack.com
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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 Why Does The 50/30/20 Rule Work?
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.
It is a budget rule to help people reach their financial goals. It states that:
Budgeting your money is the cornerstone of a sound financial plan, and seeing all the numbers in black and white can offer valuable perspective on where your mone...
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