Want to learn about The 50/30/20 Budget Rule,. Tis video will give you everthing you need. The 50 percent category needs is half of your income which is for essentials - the things you absolutely can't live. Next up is 30 percent of your income and includes anything that isn't essential but makes life more enjoyable i.e. Dining out Netflix hobbies new clothes travel anything that adds a little extra joy to your life. Last but not least 20 percent goes towards savings and debt repayment. This includes putting money into your emergency fund saving for retirement or paying off high-interest debt. This category is all about setting yourself up for a better financial future If you have high-interest debt prioritize paying that off first then focus on building an emergency fund and long-term savings. For example, if you bring home $3,000.00 a month after taxes, the breakdown will be $1.500.00, for needs $900.00 for wants, and $600.00 for savings and debt repayment. Breaking your spending into these categories makes it easier to understand where your money is going and helps you stay in control.

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