The 50/30/20 Rule: A Simple Formula for Financial Freedom
Basic Allocation of Income Basic Allocation of Income (image credits: flickr) The 50/30/20 rule is a practical approach to managing your finances by dividing your after-tax income into three distinct categories. First, 50% of your income should be allocated to necessities. These are essential expenses like housing, utilities, groceries, and transportation. These are the things ...
