10/1/2024 – How to Know if the 50/30/20 Budget Will Work for You

How to Know if the 50/30/20 Budget Will Work for You

September 23, 2024 | money.usnews.com

 

Credit: Image by finanzgorillas from Pixabay

 

The 50/30/20 method is a budgeting framework that suggests spending after-tax earnings as follows:

· 50% on needs and obligations such as rent, groceries and bills

· 30% on wants and discretionary spending

· 20% on savings and debt reduction

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