Most times, this won’t be the other half of the income. So, you could calculate the 60% and 40% on the remaining money for wants and savings.
34
208 reads
CURATED FROM
Stop Wasting Money! Start Budgeting with the 50/30/20 Rule
cosmopolitanmindset.substack.com
22 ideas
·4.4K reads
IDEAS CURATED BY
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
“
Similar ideas to 4 — Divide the remaining money in 30/20.
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.
Finally, try to allocate 20% of your net income to savings and investments. This includes adding money to an emergency fund in a bank savings account, making IRA contributions to a
Read & Learn
20x Faster
without
deepstash
with
deepstash
with
deepstash
Personalized microlearning
—
100+ Learning Journeys
—
Access to 200,000+ ideas
—
Access to the mobile app
—
Unlimited idea saving
—
—
Unlimited history
—
—
Unlimited listening to ideas
—
—
Downloading & offline access
—
—
Supercharge your mind with one idea per day
Enter your email and spend 1 minute every day to learn something new.
I agree to receive email updates