10 min listen
1079 - What Is The 50/30/20 Budget Rule? by Ashley Friedman
1079 - What Is The 50/30/20 Budget Rule? by Ashley Friedman
ratings:
Length:
14 minutes
Released:
Sep 28, 2023
Format:
Podcast episode
Description
If you’re not into traditional budgeting, where you place all of your spending into rigid categories, then the 50/30/20 budget rule might be for you.
This financial management budgeting method is broken into three main categories: 50% needs, 30% wants, and 20% savings and investing. It’s designed to take a full picture of one’s monthly living expenses in the simplest way possible and remove the nitty gritty details that can bog someone’s bank account down with complications.
So, in theory, if your after-tax income is $5,000 a month, $2,500 should go to your needs, $1,500 to your wants, and $1,000 to your savings and investing goals. Let’s talk more about how this all works.
Learn more about your ad choices. Visit megaphone.fm/adchoices
This financial management budgeting method is broken into three main categories: 50% needs, 30% wants, and 20% savings and investing. It’s designed to take a full picture of one’s monthly living expenses in the simplest way possible and remove the nitty gritty details that can bog someone’s bank account down with complications.
So, in theory, if your after-tax income is $5,000 a month, $2,500 should go to your needs, $1,500 to your wants, and $1,000 to your savings and investing goals. Let’s talk more about how this all works.
Learn more about your ad choices. Visit megaphone.fm/adchoices
Released:
Sep 28, 2023
Format:
Podcast episode
Titles in the series (100)
727 - Stop Relying On Airbnb and VRBO and Build A Business You Control by Alex Jarbo by BiggerPockets Daily