{"id":1417,"date":"2021-10-11T00:15:38","date_gmt":"2021-10-11T00:15:38","guid":{"rendered":"https:\/\/readyretiree.com\/?p=1417"},"modified":"2021-10-11T00:24:48","modified_gmt":"2021-10-11T00:24:48","slug":"50-20-30-budget-rule-making-the-most-of-your-budget","status":"publish","type":"post","link":"https:\/\/readyretiree.com\/50-20-30-budget-rule-making-the-most-of-your-budget\/","title":{"rendered":"50\/20\/30 Budget Rule: Making the Most of Your Budget"},"content":{"rendered":"
The 50\/20\/30 Budget Rule is a simple and effective way to manage your finances. This rule divides the money that you have available for spending into three categories: 50% on necessities, 20% on savings, and 30% on wants. It’s not just about budgeting money; it also helps you make smarter decisions when deciding how to spend your hard-earned cash.<\/p>\n\n\n\n
The 50\/20\/30 Budgeting Rule is a great way to organize your finances and make the most of what you earn. By tracking how much money goes towards necessities, wants, and save each month, can help you make better purchasing decisions when shopping for clothes or going out with friends. The rule also encourages people to save more because they see their hard-earned cash go further than ever before by applying this simple budgeting plan!<\/p>\n\n\n\n
Writing about numbers in sentences? It’s not necessary here since we’re talking about just one topic – but if there are multiple items that need numbering then I would recommend using bullet points instead. If that doesn’t work well either then try rewriting the post to including any number lists at all<\/p>\n\n\n\n
The 50\/20\/30 Rule of Thumb is a simple and effective way to manage your finances. Here’s how it works:<\/p>\n\n\n\n
Things like rent, transportation costs, groceries, etc. This category should cover the essentials! Sometimes people lower this percentage because they intend to get even more serious about saving money by reducing their expenses or earning extra income through side jobs.<\/p>\n\n\n\n
One could argue that only saving 20% of your finances isn’t enough, but in reality, this is probably higher than the average person currently saves in a year. It’s an achievable percentage that should be possible for just about anyone. Really consider what you can cut out of your budget and think about how much your going to watch that money compound<\/a> over the next several years!<\/p>\n\n\n\n This includes clothes, entertainment (movies\/dinners out), new technology items that you want but don’t need right away; basically all discretionary spending for the fun stuff! Some people raise this percentage if they find themselves having leftover cash after meeting their monthly needs and goals — perhaps they can afford some luxury purchases without feeling guilty.<\/p>\n\n\n\n <\/p>\n\n\n\n30% on Wants <\/h3>\n\n\n\n