Goally

The "50/30/20budget rule" was popularized by Senator Elizabeth Warren. It is one of the most used budgeting method.

It's simple.

The 50-30-20 rule works like this:

5️⃣0️⃣% of your income goes to things you must have/need to spend on

👉🏻rent, electricity, food, taxes

3️⃣0️⃣% goes to things you want to buy

👉🏻that new iPhone, shopping, eating out, relaxing and watching a movie

2️⃣0️⃣% goes to savings and investments

👉🏻bank savings, insurance, college funds, mutual funds

👩🏻‍💻How to use it?

1. Calculate your monthly income

2. Calculate a spending threshold for each category.

3. Plan your budget around these numbers.

🤔 Why it works?

Figuring out your finances is confusing and it’s often hard to know where to start. That’s why the 50/30/20 rule of thumb works so well. It’s an easy way to get a handle on something that can otherwise be intimidating such as budgeting.

Do you want to start on your 50/30/20 budgeting journey? Send us a DM and we will teach you how. 📩

Be aware 😉 The left is enticing but don’t let it rob you the right .