Budgeting doesn’t have to be complicated.
This one simple rule changes everything!<\/p>\n\n\n\n
WHAT IS THE 50\/30\/20 RULE?<\/p>\n\n\n\n
Split your after-tax income like this:<\/p>\n\n\n\n
50% \u2192 NEEDS
30% \u2192 WANTS
20% \u2192 SAVINGS & DEBT PAYOFF<\/p>\n\n\n\n
EXAMPLE FOR $4,000\/MONTH:<\/p>\n\n\n\n
NEEDS ($2,000):
\u2192 Rent\/mortgage: $1,200
\u2192 Groceries: $300
\u2192 Utilities: $150
\u2192 Car payment: $200
\u2192 Insurance: $150<\/p>\n\n\n\n
WANTS ($1,200):
\u2192 Eating out: $300
\u2192 Entertainment: $200
\u2192 Shopping: $300
\u2192 Subscriptions: $100
\u2192 Misc fun: $300<\/p>\n\n\n\n
SAVINGS ($800):
\u2192 Emergency fund: $200
\u2192 401k contribution: $300
\u2192 Roth IRA: $200
\u2192 Extra debt payment: $100<\/p>\n\n\n\n
HOW TO START TODAY:<\/p>\n\n\n\n
Step 1 \u2192 Calculate your monthly take home pay
Step 2 \u2192 Calculate 50% 30% 20% amounts
Step 3 \u2192 Track spending in each category
Step 4 \u2192 Adjust if overspending
Step 5 \u2192 Review every month<\/p>\n\n\n\n
BEST FREE BUDGETING APPS:
\u2192 Mint (free, tracks everything)
\u2192 YNAB (best but $14\/month)
\u2192 Personal Capital (free, great for investing)
\u2192 EveryDollar (free basic version)<\/p>\n\n\n\n
WHAT IF 50% IS NOT ENOUGH FOR NEEDS?
\u2192 Your rent might be too high
\u2192 Consider roommate to cut costs
\u2192 Look for cheaper area to live
\u2192 Increase income with side hustle<\/p>\n\n\n\n
This budget works for ANY income level.
The percentages stay the same!<\/p>\n\n\n\n
Start your 50\/30\/20 budget this weekend! 💪<\/p>\n","protected":false},"excerpt":{"rendered":"
Budgeting doesn’t have to be complicated.This one simple rule changes everything! WHAT IS THE 50\/30\/20 RULE? Split your after-tax income like this: 50% \u2192 NEEDS30% \u2192 WANTS20% \u2192 SAVINGS & DEBT PAYOFF EXAMPLE FOR $4,000\/MONTH: NEEDS ($2,000):\u2192 Rent\/mortgage: $1,200\u2192 Groceries: $300\u2192 Utilities: $150\u2192 Car payment: $200\u2192 Insurance: $150 WANTS ($1,200):\u2192 Eating out: $300\u2192 Entertainment: $200\u2192 … <\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[],"class_list":["post-96","post","type-post","status-publish","format-standard","hentry","category-budgeting","grid-sizer"],"_links":{"self":[{"href":"https:\/\/getrichunder30.com\/index.php?rest_route=\/wp\/v2\/posts\/96","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/getrichunder30.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/getrichunder30.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/getrichunder30.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/getrichunder30.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=96"}],"version-history":[{"count":1,"href":"https:\/\/getrichunder30.com\/index.php?rest_route=\/wp\/v2\/posts\/96\/revisions"}],"predecessor-version":[{"id":97,"href":"https:\/\/getrichunder30.com\/index.php?rest_route=\/wp\/v2\/posts\/96\/revisions\/97"}],"wp:attachment":[{"href":"https:\/\/getrichunder30.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=96"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/getrichunder30.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=96"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/getrichunder30.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=96"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}