4 Reasons the 50/20/30 Budget Doesn’t Work

4 Reasons the 50/20/30 Budget Doesn’t Work
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[@nataliaflores9579]

Honestly the 50/30/20 rule has opened my eyes to this point.. 50/30/20 is 100% so if you adjust to whatever percentages that equal 100% you’ll be fine so I’m my case rn I do 60% needs 10% wants and 30% savings/debt and as time goes on I can adjust that to whatever my life looks then.

[@XanderGaming]

Great advice

[@wiseman4160]

If 75% of your net income or less pays for both fixed expenses and variable expenses. And Irregular Expenses. Then your doing good. If it's less than 75% of your net income is very good to excellent!

[@Bluponi]

I can see the points that Rachel is making, but a lot of people don't budget at all, so the 50 / 20 /30 budget is good place to start... Its better than no budget at all, and wondering where your money went...

[@pricilla2076]

Exactly what I was thinking!

[@texasbound7089]

“Giving” is in the 30%… if you WANT to “give” then take it out of the 30% ❤

[@BRExteriorPro]

The 50/30/20 budget is awesome! I use it all the time

[@trina3811]

The 50/30/20 budget works perfect for me. I feel that it is no different than the Dave Ramsey zero based budget. I also felt that the Dave Ramsey zero based budget was to complicated and took up way to much of my time.

[@Mysticbladegod]

Yes! This is a great budget.

[@hddub90]

I understand where she is coming from however I have tried both and for ME, the 50/30/20 helps. It gives me a fixed amount to work with each month. If I know bills may be high I will switch up the percentages but my wants are always the lower percentage. For my wants I have categories and I have a budget for each. It has been working well so far and really makes me think more about where I spend my money.

[@livingunashamed4869]

Amen! For me currently its 65 needs 30 savings/debt 5 wants. 30 for wants is insane!

[@ah383]

50 20 30 is a very reasonable beginners budget. YOU get to define your wants, and you are at least putting 20% to savings or debt payments. You want to do more? That’s a want. I sense Rachel is just knocking other ideas down to make a video….

[@JosephDickson]

Exactly. It's apparent she didn't read the book. It's flexible to the individual. - 20% to savings includes debt payoff, emergency fund building. After that is done you can move to investing. 30% lets be honest, donating to a cause is a want. 50% living expenses. Not debt, not a car payment, it's for housing, food, utilities, and medical insurance. If donating to a cause is a need for you. Well, that means reducing your needs to fit it in. Let's not forget that Elizabeth Warren was a co-author of All Your Wealth. A liberal, and direct competition to The Total Money Makeover.

[@rileygshep7606]

I feel like 50/20/30 is a baseline starter for budgeting and you should adjust these percentages to suit your needs

[@TheMan8719ttv]

I took this 50-30-20 as a guide not my master, I also incorporate the zero based budget when I'm not depressed/anxious lol. I prefer to take a bit of good from many sources rather than all my knowledge from one source...unless it's God knowledge ! Love you Rachel, the world needs more women like you!

[@Gundam-bruh]

Giving is a “need”, paying off debt is a “need”.. this is a great way to begin budgeting, then adjust the parameters throughout time, it can “live and breathe”, what doesn’t she understand.

[@alessiaclark8120]

I remember starting my first Investment with 100k which I'd saved in the bank . It was a risk I took but there is "no gain without pain". After 3 years I made a $1m ROI. I am planning my retirement which will happen by February next year, totally debt free and I'm glad to have secured a good life for my kids. The two things I've learnt when it comes to investing: 1.Don't let anyone stop you from trying. 2. Try it no matter the outcome.

[@basiawojcik8732]

Your comment is so inspiring, this is really what I wanted to hear . I want to start investing, but, I don't know how and what to invest. Can you share some tips as I am willing to listen to whatever you suggest.

[@alessiaclark8120]

@@basiawojcik8732 Thanks for the compliment. When it comes to Investing, You should have these three basics in mind . 1. Set aside a good capital ( the bigger the amount the more profits you make) 2. Never procrastinate 3. Seek advise from an investment Adviser(they have more experience).

[@alessiaclark8120]

@@basiawojcik8732 Honestly, if you have these three things in mind before Investing, you are heading for a successful Investment.

[@nicolasbrown7164]

You are correct about the third one . Many people neglect the importance and role of an investment Adviser. Last year my colleague lost 600k buying a stock from a wrong company. These kinds of mistakes happens a lot and many are still making these mistakes over and over again. In order to make a good investment, IA comes in handy due to their experience's in the field.

[@basiawojcik8732]

@@alessiaclark8120 I appreciate these information. I would like a recommendation?

[@ninjastormy]

By definition, 'needs' are a fixed dollar amount, not a percentage. If you make more money, your 'needs' should not increase, so they should become a smaller percentage of your income.

[@shelbylengwenat3774]

I disagree, as life goes on, your needs change and that changes on the amounts.

[@ninjastormy]

@@shelbylengwenat3774 Exactly. My point is that your needs are an amount depending on your situation in life, not on your income. So for a budget to change the dollar amount that provides for your 'needs' depending on how much you make is silly.

[@shelbylengwenat3774]

@@ninjastormy Okay, Sorry for misunderstanding.

[@ninjastormy]

@@shelbylengwenat3774 No worries. I should've been more clear. Thanks for pointing it out.

[@KS-cl8br]

Yes but you can upgrade your needs. You can go entirely organic which costs more but is much healthier.

[@AmanSheT84]

When i first started out, a young single mother, this one worked when they were young. But now, the zero base budget works 100 %. Yet, saying that, i use a combination of zero base and a variable budget, which works much better.

[@NurseMoneyGrowWealth]

10-10-30-50 works well for me along with cash stuffing, automation and focusing on the baby steps. I use every dollar to track expenses

[@browneyes39]

This is a good budget if you are starting from zero. 50% of our income does not cover our current necessities.

[@joelamaro9171]

50/30/20 is the name for it because it is based on 50/30/20 split. But anyone who teaches it always tells you your split can change as you make less or more money. It IS flexible… plus the 20 category for me includes tithing at church 10% and giving the other 10 percent to investments and debt. That can change but that’s what works for me right now. Every dollar is accounted for. It is very flexible.

[@cameronrutan6922]

I kinda altered this rule and I normally do 40% savings 10% wants and 50% needs sometimes I spurge and spend on wants every now and then but most times I don’t

[@BRExteriorPro]

Point #2. Wouldnt the 30 ( wants) be part of giving? Its literally the extra where you can do as you please....

[@Mathieu_Matheow_Benoit]

While you are right, you got the idea of 50/30/20 wrong. 50/30/20 is about getting started with your first budget. Bring order to a rule less budget.

[@DB-fx5oo]

This video is gold. Thanks for sharing!

[@brentkillian]

Seems like after you reach baby step 4 you should have a certain percentage for saving one for giving and one for wants. Otherwise you get out of balance.

[@andrewlee5237]

I find this formula flexible depending on my current situation with my income versus my outgoings. My split at present is 44/28/28 and as I said this is flexible and will change over time, but it helps me to highlight key areas of my budget that requires more of my attention such as my debt level should that percentage start to creep up.

[@the_m1sa]

In debt? No emergency fund? You don’t qualify for this.

[@lexieharrelson8848]

I do a modified 50 30 20 budget. 50 is needs and wants. 30 is debt, and 20 is savings. Most of my bills are consistent, so there no need to calculate each month. I leave my autopay monthly bills in my main account plus a $500 buffer. Pi but the rest of the 50 percent in a spending account for food, gas, shopping etc bc i am a varied spender. The other 50 does out of the account towards investing/ debt immediately. I adjust, according if im low on money or have a higher bank balance

[@nirmalasari3802]

I agree with you, but I also wanna explain something. I learn about 50 30 20 budgeting in the year 2009 and it's work for me. 50% for living, 30% for paying debt 20% for giving and insurance. I have no saving whatsoever. After all my debit are gone, 50% for living, 20% for giving and insurance, 20% for my parents, And last 10% for saving. By continuesly giving to other and giving to your parents, your income will increase amazingly. That's is what I feel 🙏❤️ SFMBE

[@justinlindholm2679]

My understanding of the 50/30/20 rule is Your needs should be no more then 50% of your income. Your wants should be no more then 30% of your income. You should save no less then 20% of your income,. As for giving/tithing, that would be part of your 30% wants category, because you don't have to give/tithe your money. That something you wants to do. The 50/30/20 budget is a rule of thumb to help people that have never budget before.

[@CloudslnMyCoffee]

Last time I was this early Dave was still yelling at callers

[@bingesquad1]

Its actually the 50/20/30 rule where 50 is needs, 20 is wants and 30 is savings. After seeing the video I like the 50/20/30 rule more than what you blabbed in the whole video 😂

[@doughty_performance]

Yup I think you missed the point as many others have stated. This is a great beginner budget plan that can be adjusted by income/debt.

[@jaredbills72]

This budget concept just helps people make estimates of about how much they should be spending on needs, wants, and savings. The zero based budget just doesn't give much direction as to what is an expense. I define an expense as a need. If my net income minus my expenses is zero, then I'm not doing good at all. If my net income minus my expenses (aka my needs such as the 4 walls as Rachel mentions) leaves money left over for savings, debt, investments or fun money then great. But I think it is important for people to keep things flexible. There may be a season where your needs go up in price and you may need to spend 55% or more on them and take away from the wants.

[@vickieclark5931]

Yeah, if you have debt and no emergency fund, your wants should be at 0%. But if you are out of debt and have a fully funded emergency fund, your wants can be a much higher percentage. It all depends on where you are. Cause where does that 50% fit into debt payoff? Many people can barely survive off 50% of their income to live, let alone trying to pay off debt with that. The math is not correct for those that want to get out of debt, build a strong emergency fund, & retire early.

[@yodaflyz]

With propane cost being so high right now, filling my tank full is now more expensive then my mortgage. Last mouth I only had them do a partial fill as it's what I could afford. Living on 50% of my income right now just isn't possible.

[@giainto5564]

Time to ditch the car and walk everywhere haha

[@MoneywithDan]

I found the same issue with this type of budget approach. Very well articulated and couldn’t explain it any better myself. Also, where is the allocation to retirement accounts with this approach?

[@XeRo333]

The 50/30/20 is definitely a good starter for those who're very new to budgetting and getting started. Yes, adjust if needed, that's why you hzve a savings account. It can still apply to the "Ramsey way" it's just more simple for beginners. It's the same thingas zero based budgetting. You're just shortening that LONG list if specific wants, needs, and savings into just three categories

[@co9971]

this is ridiculous. 50/30/20 works very very well. i paid off my student loans like this. now i have no debt and still use it to save for trips

[@jaook99]

Is everydollar app only available for people living in US?

[@circularpizzabox2134]

Is this similar to the “budget by paycheck” method Kumiko Love uses, does anyone know if this is a good way to budget? My wife is reading her books and wanting to implement it. Thanks in advance.

[@brennenhrebeniuk9661]

Here's my response to each reason: 1. "It is the same regardless." This is much less a rule as much as it's a guideline for the average person. If you want 60% to your needs, adjust it if you want 30% toward your savings and debt. The percentage system makes it easier to get a broad, easy way of budgeting as opposed to the much more difficult detailed per dollar budget (ive used every dollar for detailed budgeting but it burns you out over time) 2. "Doesn't include giving" Not true. Giving comes out immediately once you get your check. Simply tithe and then do the 50/30/20 on the remaining amount after tithe. 3. "Not focused on goals and progress" You can change each percentage according to your goals but you do have a point that it is not as detailed or specific as zero based budgeting but it offers a bigger picture more easy, simplistic way to budget that saves time as opposed to 1-2 hours every two weeks. 4. "To focused on your wants" This one I might actually agree on if it was a hard set rule. But the 50/30/20 is completely adjustable to your needs/wants/goals. Conclusion: The 50/30/20 is not a hardset rule but rather a guideline that provides an adjustable easy to allocate percentage based budget for people that might not need or want to be so Detailed in their budgeting. It might not be the most efficient or effective budget on the market, but it sure is a great start for people who get burnt out by details.

[@Mysticbladegod]

I disagree with including giving in the budget if you don't want to. The simpler something is, the more likely a person is to stick to it. I use the a variation of the 50/30/20 budget and a variation of the the baby steps and I smash debt and savings with virtually no stress.

[@TheElysian7]

Wow I love this content!

[@Je.rone_]

There more one values money the less they'll want to trade it for items that don't need or barely want

[@craigb4449]

I flip the 30 and 20 and save 30%. Duh

[@s.sumbrella7616]

Love that

[@Kunyazaforever]

I think the biggest question is why are the “wants” category greater than saving/investing/debt category? As with anything there are no absolutes and this is merely a guide for those who may need the discipline. You can adjust the percentages to suit what works best accordingly including adding a category for giving. Mine is 60% needs 15% investments(dca and auto withdrawal) 20% saving(for various purposes like 8 month emergency fund/travel/sinking fund) also a month ahead on bills and 5% donation.

[@Brovillion559]

I tried using the 50/20/30 and it’s to “open” there are to many cracks in the system for money to escape. It’s a general way to SAY I budget. It’s a rocking chair system.

[@Ok-uc5in]

If I had to live off of half I made, I’d be living under a bridge. I can’t even afford heat and air conditioning to be fixed. No new car, just trying to make it.

[@brianvargas5432]

What’s wrong with you’re ac maybe I can help . I’m an HVAC tech lmk

[@jarrongreen218]

Just make more money

[@haidemarzan3797]

I was looking for a good video to helps my Son in his young age to save money,and I really like the concept of this video,thanks

[@keekee8760]

Great video, thank you for sharing.

[@Karmiangod]

Then what do we do with that overtime budget?

[@jaikumarsivalingam]

Thanks, Rachel! ❤

[@annatattersall249]

Sure, but if giving is a want or a need for you, fit it in there anyway :)

[@lizvisage]

Also, I hope all these "budgeting" channels will stop shaming those who spend 30% of their income to wants

[@oppie11]

It took me a couple months to really fine tune my budget, and be disciplined. Once I did, I was off and running.

[@cerebralvision]

Agreed. 50/30/20 budget also doesn't work well when you live in an area with a higher cost of living. You might find yourself spending a little bit more than 50% on needs, based on your income and end up having to adjust the others based on it.

[@cerebralvision]

@@VETERANPREPPER1 that is definitely an option. It depends on what industry you work in and if there is a lot of availability for it.

[@nathanieljb666]

The 50/30/20 rule is for beginners who have a hard time spending too much money. It can be a descent first goal. 20 percent goes to savings or investment not to debt. Giving is a want it goes in that category. This is a really good rule for beginners, after they get out of debt.

[@ringrealtorryan]

My understanding of the 50/30/20 is 50% bills, 30% wants and 20% investing... obviously someone would want to be debt free before doing this for it to be most effective. Thoughts anyone?

[@jackiem9460]

For a household that makes under $40,000 the needs category would be higher than 50%. This is definitely not for everyone.

[@BronzeGirl]

@@jackiem9460 that’s where I am

[@otgenius]

​@@jackiem9460yes...But if that is the case, it reveals theb you need to increase your income...❤

[@davidmckesey7119]

I just started on the 50/30/20 rule and I put my tithe and offering as a need

[@KayBeLuvzFashun]

Idk. I kind of feel like there is always room to adjust and is a good starting point

[@inea-fijourney22]

Completely agree, I use the zero based budget.

[@XeRo333]

It's the same thing, just simpler!

[@THEKillerRyan96]

Didn’t realize what I’ve been doing is called a zero based budget. It definitely works better than anything else but you HAVE to track it with excel or google sheets or something. As soon as you get paid, move money around and only allow yourself X amount to spend freely

[@lizvisage]

zero based budget is too much work for me. 50/30/20 works for me since I dont want to spend an hour trying to budget my money. And no i'm not living paycheck to paycheck and not broke using this budget for a year now LOL

[@mariesaver7184]

Such a good video, like the content and it is so true. Wish I could have the App over here to unfortunately not available in Germany 😭. I do Excel like it too. A budget gives me freedom and unforseen things comming may way are now only an inconvenience and not anymore a reason to stress about at night. Thanks to you Rachel and your Dad. Finding you guys was the second best thing in my life. 🤗 Best are my kids.

[@tom7914]

Just google every dollar app apk. Download the app and just out a random usa postal code that's all you need me and then just treat collars like its euros anddo your budgeting like you would normally

[@aupairs1]

In the UK you can use every dollar on a computer but not a phone. It just won't let you, which is a pity. I am not sure why Dave Ramsey decided to limit its use to the USA. It has worldwide potential to be a blessing.@@tom7914

[@aimercab8630]

Great advice; Nice outfit!!!

[@StephanieZander]

This is the reason why I haven't tried the 50/20/30 budget method yet! I like to try different budgets in my videos, but I can't justify only putting 20% of my income towards debt. It needs to be gone like yesterday, and I'm not cool with just putting a little bit towards it. However, I am excited to try this once I am debt free!

[@retrojay86]

My version of 50/20/30 currently is 50% living needs, 20% savings and 30% investing. Hope your debt free journey has gone well over the past 2 years @Stephanie Zander 🙂

[@blazingphoenix1000]

My wants are super cheap and if there's something pricey that I want I save up for!

[@voteogaga7561]

What you've said makes no sense. Those figures in that budget rule give you a target and build your self discipline on your approach to money. It's like a guide. It's help you to track your money well. It's the best way to help careless people like me. It helps me to save the money I used in building my first website. The figures controls you and help you to stay focus. The zero budget is not a good thing to me.

[@sharondorival8853]

Is it true that it is not good to invest your money into savings account and CD savings money market savings and all other kinds of savings because of inflation?

[@ooohnawww]

that’s not always the case though. the 50/20/30 method the way you described it doesn’t always have to apply, oh, my needs are always 50, savings are 20, and my wants are 30. people have different perspectives on the way they work their budget. so say you put more hours into the job you work in or if you have your personal business. you can use the method differently if you get paid varied on on that information or just how your lifestyle is. 50 could be wants, 20 will be savings, and 30 will be needs. just because it’s called the 50/20/30 method, doesn’t mean it has to stick to those percentages of your budget. you could change 50 of your needs to 70. if you need to go lower, you can change it to 30. you’d want to make sure though, of course, that if you change the percentages, you’d still have to equal to 100% of your plan. for example, 70% to my needs, 10% to my savings, and 20% to my wants. again, it just all varies on how people’s lifestyles are, their salaries, and etc. Im very new to this, I’m only 19 and a recent graduate, but it’s not a bad method if you use it to your own advantage, and not by the book.

[@juannavarro3620]

its been working for me.

[@michelarosier1918]

Rachel thank you for explaining the 50/20/30 budget rules, it was confusing for me plus, I personally did not understand it. I been during the everydollar app and it work for me. That's all, I need in my life.

[@makethepenniescount]

The problem with a lot of these things is that they are open to interpretation. What someone ‘wants’ can be what someone else ‘needs’. One could say ‘I want to get out of debt’, while another could say ‘I need to get out of debt’, but they could both be the exact same goal. I also think “giving” is also often misunderstood and misinterpreted. ‘Giving’ doesn’t always have to be in cash. You can give your time, and that’s still noble and generous. We all say “time is money”. So someone who doesn’t earn very much may feel like they aren’t giving enough if they don’t give money to charity, but they could be the person who spends their entire weekend at the soup kitchen, cooking and feeding the homeless, etc. Isn’t that a form of ‘giving’? I really enjoyed the talk and reading other people’s comments. It’s always interesting to hear other people’s thoughts. 😊

[@iwantcheesypuffs]

I 100% agree. The 50/30/20 is not for those who are still "consumer addicts". 50/30/20 might be a great goal for people after the DR steps. Though if you finish all the DR steps you're probably 50 Savings/Invest, 30 Expenses, 20 Quality of life stuff -- because you have no debt. Also agree your budget should be somewhat flexible -- as you plan and prepare for those changes.

[@TheDevilsAccountant]

Surely most people's bills come to more than 50% of their wage??

[@tater4ever]

It’s always if it’s not way it’s the high way or doesn’t work . It does work . If I know $50 is my needs right . That 30 I want to get out of debt then I’ll Put it towards that . It’s a guidelines but your wants can be whatever you so choose .

[@olympushealer9551]

Thank you, You saved my life right now, My rent is almost half my salary and I was dying of not being able to do 50 30 20, You saved me Thaanks, I handle the rest of money to my Food, Wants and saving, its not much but yeah I dont feel guilty anymore, My salary is 700$

[@jazminlozano5098]

also, when you're not budgeting and want to start, oftentimes your real-life spending is NOT 50/20/30. I remember I was trying to fit my spending into this breakdown when I began to be introduced to budgeting. It was HORRIBLE! So glad I realized what zero-based is!

[@skiddysm]

Ok the 50/30/20 budget is actually a good starting point! Just stay in the 50/30/20 you wanna change it to your needs like right now I'm need 43% and debt extra 27 and 30% wants this is usally used to pay off debt if it reaches a certain amount from not spending it which it does

[@ciannacoleman5125]

See what I don't get is how anyone budgets if it isn't a Zero-base. No matter what you decide to do with your money or what "budget style" you go with, if you decide to do any type of spending plan you need to know what goes where. If you end up having "extra" money at the end of the paycheck/month because you didn't end up spending it you still have to decide where it is going.

[@finance-fix]

Completely agree with Rachel here. Its flawed.

[@calvinmiller3044]

The irony of her commenting that the 50/20/30 budget is inflexible and being part of a program ( the baby steps) that is just as inflexible is hilarious. Save 15% for retirement is the rule and doesn't give you any range. 3-6 months for retirement is the rule but doesn't account for extraneous circumstances when you might need more than that for cash on hand. Don't ever use credit cards, even if you are responsible and you can get some marginal (very marginal) benefits via rewards and cashback. I'm not saying her advice in the video is wrong. I think she brings up a good point. But I do think the same logic should be used in the rest of Ramsey Solution's financial philosophy.

[@tcgtpl]

My thoughts exactly. All her arguments could also be used against the Ramsey system. The end goal for any plan is to get out of debt and make your money work for you, so do what works for you. And: Doesn't include giving? You could easily put that in any of the 3 categories. Doesn't focus on your goals? Same thing. Get out of debt? Pay off that in the invest % & want %.

[@jimroscovius]

I agree - this budget really stinks. And you don't get wants until you are out of debt.

[@blazingphoenix1000]

I like this a lot I never understood the 50/30/20 rule because peoples lives change which means how u budget changes.

[@williamdefo8106]

50/20/30 budget would be a huge improvement for a lot of people. Its better than no budget.

[@JugglingFinance]

😋😂😂 true

[@conureron3792]

Exactly!

[@svetlanikolova2108]

Wrong. Housing food and basic needs are 50 %. Savings should be 30 % Wants 10 % Sink fund 10% Think. Make yourself rich not others. Your wants are making others rich, so it's time to become a total egoist and save for yourself

[@David-fv7zg]

Obviously a Ramsey robot, she has never NEEDED anything.

[@NaNa-lt1po]

Exactly what I did for 18. months starting 2012. No wants column.. everything except 401, food, utilities, goes to debt.. After that 6 months more of saving cash flowing trip for my parents to Alaska.. Every vacation, ever since (big or small).. no cash flow... no vacation. Wonderful..

[@sodaPapa7176]

At the end of the day a budget is a budget no matter how you look at

[@livingonthetyne]

Works well for me I do 50/20/30 though bills/wants/savings. I have no debt.

[@irishcladdagh3]

I never could understand this concept...especially if you are in debt and NEED to get out of it...I stick to my zero lifestyle minimalist and sustainable approach and sacrifice everything to be debt free

[@charletfoster8917]

30% for wants is too high-Agree with you👍🏿

[@conureron3792]

Wouldn’t a “want” be “being debt free”, so that 30% could then be applied to paying down debt.

[@amyschuhmann1814]

Please please PLEASE make EveryDollar accessible for European smartphones

[@sethbender2863]

I think if your debt free this budget is alright. I would just include the giving tithe in the 30% personal.

[@TB-rx1ue]

I did this in my 20s. Challenging myself to do more now that I’m 30 :)))

[@albertobenelli]

I have always thought that the 30% on wants was way too high and way too "fixed" . Finally a reasonable video about this subject . Also agree on focusing on goals at every and differet times (cancelling debts, etc) . Very good . Saluti dall'Italia .

[@ysr.officiel]

Yes but i believe the point is that those numbers (50/30/20) should not be exceeded and not necessarily reached. 30% as “wants” should not go beyond 30% but not necessarily spend them each month. You could look at your 30% and think that for that month, u only have to spend half of it and so 15% will just go to your savings for that month. But once u keep spending and you reach 30%, u know that u can NOT exceed and thats where u draw the line.

[@BrendanEvan]

50/30/20 is too relaxed and not aggressively oriented enough toward investing.

[@wiseman4160]

If your fixed expenses +varible expenses in total are more than 75% of your net income. Your doing something wrong! If it's less than 75% of your net income your doing very good!

[@danielrivera4216]

Is that 20 percent of the budget or 20 percent of the other 50 percent?? Because is not the same 20 percent of $100 and 20 percent of $50 50% of $100= $50 20% of $50 = $10 30% of $50 = $15 AND 50% of $100 =$50 20% of 100 = $20 30% of 100 = $30 How exactly is it divided?

[@jordanhargrove9731]

I write every single day out of the month and just put the day with the bill and that help me save.

[@JK20239]

I do the 50 25 25. 50% goes to expenses. 25% goes to savings. 25% goes to retirement.

[@kaycure8629]

No giving? No wants?

[@JK20239]

@@kaycure8629 "Wants" mean living it up like the joneses and never being out of debt. No purpose in wracking up a bunch of debt to only having to get a job to pay for it. Giving comes from my savings. I can adjust accordingly depending on my financial situation.

[@kalele1997]

@@JK20239 no that’s not at all what wants mean 😂 wayyyy off.

[@atdepaulis]

Hmm that sounds like the dumbest thing ever lol 😂 30% goes to whatever I “want” lol 😂

[@tishagonzalez725]

Passive income has always been the way and has saved by fam for quite a while

[@kloisgooden]

Ooh thanks for this topic Rachel!

[@henryomorodion]

better to have a focus formula . l like structure