Learn to Budget - Deepstash
Learn to Budget

Learn to Budget

Create a plan for your money so you know where it's going every month.

A popular and effective way to budget is with the 50/30/20 rule, where 50% of your income goes towards necessities (bills, food, housing, etc.), 20% of your income goes towards savings and 30% you can use freely.

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"There's no money in poetry, but then there's no poetry in money, either." ~ Robert Graves

These are pretty basic but we would all be far ahead financially if we did a few of them.

The idea is part of this collection:

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The popular 50/30/20 rule states that you should reserve 50 percent of your budget for essentials like rent and food, 30 percent for discretionary spending, and 20 percent for savings.

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The 50/20/30 budgeting method

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With the 50/20/30 budgeting method:

  • 50% of your monthly spending goes toward essentials - your home, your food, etc.
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The 50/30/20 Rule

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.

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