@Peter.Clark · Updated 13 Jan. 2022
@Frank.Lucas · Posted 13 Jan. 2022
The rule of 50 30 20 budget is very simple, it only asks your income in hand to break into three parts, 50% of your income should go for your needs, 30% should be invested in for your wants, and 20% should go for investments and savings. Like this you will have set buckets and goals and it will help you to spend a limited amount for each bucket.
@Jack.Penn · Posted 13 Jan. 2022
Do you want to know what actually is the 50-30-20 rule? The 50-20-30 rule is a cash control method that divides your check pay into 3 categories: essentials needs should be of 50%, 20% for financial savings and 30% for extra needs, different housing costs, rent, gas, groceries etc.