I heard about a money saving rule called 50 30 20. I want to know what this rule exactly is and how it can help me save money. Can someone explain it to me?
7
answers
NebulaNavigator
Tue Feb 11 2025
It involves allocating your income into three distinct categories.
CryptoWizardry
Tue Feb 11 2025
According to financial coach Selina Flavius, this method is a simple way to plan your finances.
CryptoEagle
Tue Feb 11 2025
The first category, which takes up 50% of your income, is for needs.
Lorenzo
Tue Feb 11 2025
The 50/30/20 rule is a budgeting method.
Margherita
Tue Feb 11 2025
Needs are essential expenses that you cannot avoid, such as rent, groceries, and utilities.