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Use the 50/30/20 rule to create a balanced budget

About 50/30/20

The 50/30/20 rule divides your after-tax income into three categories:

  • 50% Needs: Essential expenses like rent, utilities, groceries
  • 30% Wants: Non-essentials like dining out, entertainment
  • 20% Savings: Emergency fund, retirement, debt payoff

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