If you’re looking for a little more simplicity in your life, or are brand new to the idea of living on a budget, you may want to consider the 50/30/20 rule. The 50/30/20 rule tries to make budgeting easier. Instead of 20 or 30 different budget categories, you divide your income into three buckets: needs, savings and debt, and “wants.” As long as you don’t spend more than 50 percent on needs, 20 percent on savings, and 30 percent on everything else, you can spend your money however you like.

If you’re looking for a little more simplicity in your life, or are brand new to the idea of living on a budget, you may want to consider the 50/30/20 rule. The 50/30/20 rule tries to make budgeting easier. Instead of 20 or 30 different budget categories, you divide your income into three buckets: needs, savings and debt, and “wants.” As long as you don’t spend more than 50 percent on needs, 20 percent on savings, and 30 percent on everything else, you can spend your money however you like.

from Michelle Schroeder-Gardner at Making Sense of Cents https://ift.tt/2OccEvE
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