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The 50 30 20 Rule. A Simple Budgeting Framework You Can Use as a Professional and in Your Business.

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Manage episode 487698281 series 3388020
Content provided by Today’s Focus of Attention. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Today’s Focus of Attention or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://ppacc.player.fm/legal.

Dreading the truth about where all your hard-earned cash is actually going? For many, looking into the eye of the expenses monster is terrifying.

If you’re spending in excess, why not prepare a budget in advance? In this way, you can decide the fate of every penny reaching your wallet. But how to do it with basic financial knowledge? Well, let me introduce you to the 50 30 20 rule.

What is the 50 30 20 rule?

The 50/30/20 rule suggests dividing your after-tax income into three buckets.

50% for needs, or living expenses.

30% for wants, the fun stuff.

And 20% for savings and investments, for your future.

This framework is easy to grasp and implement. You don’t need fancy spreadsheets or accounting skills; just simple maths. This simplicity makes the 50 30 20 rule successful for sticking to a plan. It helps maintain financial discipline without being too strict.

https://todaysfocusofattention.com/the-50-30-20-rule-a-simple-budgeting-framework-you-can-use-as-a-professional-and-in-your-business/

Listen to the full episode...

  continue reading

100 episodes

Artwork
iconShare
 
Manage episode 487698281 series 3388020
Content provided by Today’s Focus of Attention. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Today’s Focus of Attention or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://ppacc.player.fm/legal.

Dreading the truth about where all your hard-earned cash is actually going? For many, looking into the eye of the expenses monster is terrifying.

If you’re spending in excess, why not prepare a budget in advance? In this way, you can decide the fate of every penny reaching your wallet. But how to do it with basic financial knowledge? Well, let me introduce you to the 50 30 20 rule.

What is the 50 30 20 rule?

The 50/30/20 rule suggests dividing your after-tax income into three buckets.

50% for needs, or living expenses.

30% for wants, the fun stuff.

And 20% for savings and investments, for your future.

This framework is easy to grasp and implement. You don’t need fancy spreadsheets or accounting skills; just simple maths. This simplicity makes the 50 30 20 rule successful for sticking to a plan. It helps maintain financial discipline without being too strict.

https://todaysfocusofattention.com/the-50-30-20-rule-a-simple-budgeting-framework-you-can-use-as-a-professional-and-in-your-business/

Listen to the full episode...

  continue reading

100 episodes

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