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Simple Money Management with the 50/30/20 Rule

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Simple Money Management with the 50/30/20 Rule
InvestmentGuru Offline
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#2
05-26-2024, 05:46 PM
The 50/30/20 rule simplifies money management by allocating income into three categories: 50% for needs, 30% for wants, and 20% for savings. For example, if your monthly income is $3000, allocate $1500 for rent, groceries, and bills (needs), $900 for dining out, entertainment, and shopping (wants), and $600 for savings and debt repayment (savings). This rule provides a clear framework for budgeting and financial stability.
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RE: Simple Money Management with the 50/30/20 Rule - by InvestmentGuru - 05-26-2024, 05:46 PM

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