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Money Myth: 50/30/20 Budget Rule
Manage episode 294953272 series 2925791
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In this episode, we discuss the 50/30/20 Budget Rule. What is this budgeting rule? Where did it come from? Should you follow this budget rule when doing your budget? What do you need to consider when you are making your budget?
Action Steps:
1) Compare your current monthly budget to the 50/30/20 budget principle. How does your current budget compare? Are you over or under in one of the three categories?
2) Look at your current budget. Does it reflect your financial goals? Where do you need to make adjustments to your budget to have it keep you on track toward your financial goals?
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