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50-30-20

Olivia

Olivia

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Do you follow the 50-30-20 budgeting method?

This method is pretty straightforward. You simply portion your income into three categories and allot a certain percentage to each.

Here's how it works:
  • 50% of your income will be spent on needs, such as utilities, rent, insurance, transportation,
  • 30% to your wants — this is your fun money for shopping, dining out, and more.
  • 20% of your cash will be for savings and paying off debt.
If you don't do this, do you think its a good idea?
 
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