The 50/30/20 Rule Budget: How to Allocate Your Income Effectively
The 50/30/20 rule is a popular budgeting strategy that helps individuals allocate their income in a balanced and effective manner. It provides a simple framework for managing finances and achieving financial stability. The rule suggests dividing your after-tax income into three categories: essentials, wants, and savings. Let’s delve into the details of the 50/30/20 rule…