What is the 50/20/30 Budget Rule: How to Use the 50/30/20 Rule for Your Budget

Debt2Riches > Money Budgeting > What is the 50/20/30 Budget Rule: How to Use the 50/30/20 Rule for Your Budget
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Are you trying to find out what the 50/20/30 budget rule is? We will define this budgeting rule and how you can use it with your own budget to make sure you are budgeting your money effectively. 

What is the 50/20/30 Budget Rule?

The 50/20/30 budget rule is a budgeting rule that Elizabeth Warren shared with the world in her book entitled, “All Your Worth: The Ultimate Lifetime Money Plan.” 

The rule states that you should spend 50% of your monthly income on needs, place 20% into your savings, and spend 30% on your wants.

 

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