9 Smart Ways to Use Your Tax Refund
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What Is the 50-30-20 Rule?
3 min read
Last Updated: November 20, 2024
Key Takeaways
- The 50-30-20 budgeting method divides your monthly income into three categories: necessities, savings, and personal spending.
- Half of your budget should go to basic needs (rent, groceries). The other half can pay off debt, create savings, and spend how you wish.
- A 50-30-20 budget gives you predictable goals that are easy to reach.
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