Managing Your Money Using The 50-30-20 Rule

[@McKnightCutkosky]

just sold a property in Portland and I'm thinking to put the cash in stocks, I know everyone is saying its ripe enough, but Is this a good time to buy stocks? How long until a full recovery? How are other people in the same market raking in over $200k gains with months, I'm really just confused at this point.

[@adelineChulack]

Yes, a good number of folks are raking in huge 6 figure gains in this downtrend, but such strategies are mostly successfully executed by folks with in depth market knowledge

[@GeorgeWilliamSinclair]

Very true. Despite having no prior investing knowledge, I started investing before the pandemic and pulled in a profit of approximately $950k that same year. In reality, all I was doing was getting professional advice.

[@MonaghanMLOUISE]

How can I participate in this? I sincerely aspire to establish a secure financial future and I am eager to participate. Who is the driving force behind your success?

[@GeorgeWilliamSinclair]

Her name is "Dianne Sarah Olson" just research the name, You'd find necessary details to work with a correspondence to set up an appointment.

[@lihuabenchen]

she appears to be well-educated and well-read. I ran an online search on her name and came across her website, thank you for sharing.

[@silverlina]

Both your channel and Betterment Boss has really helped me with my finances. Thank you so much! Great Video. Love from the Caribbean

[@Talkinglife]

The 50/20/30 thats interesting ...

[@PracticalWisdom]

Happy to help!

[@kimsohyun4010]

What is the context of this topic?

[@ritahermit4815]

There is no other better way to manage your funds than creating a side hustle which earns you while you still do your normal job. Plan B is always essential in one's life. I invest heavily since 9months now and its been the best 9months of my life.. Forex is a good investment

[@ritahermit4815]

@Oren Markus I don't really have much knowledge on that, rather I have a commercial expert that does all the trading for me and sends me profits every 7 days.if you must be successful in Forex trading,you must have a trader with the best methods like my trader mrs Catherine. she is very reliable

[@morganphiliproy9857]

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[@ritahermit4815]

@@morganphiliproy9857 sure,, you can reach her through WhatsApp with this number 👇👇

[@ritahermit4815]

+1,323) 920.0062

[@morganphiliproy9857]

@@ritahermit4815 thanks, I will write her right away

[@Education-Edge]

Oh wow. I was creating a video on this as we speak. Hahaha. But yes, love that we are spreading great information that will help people with their finances!! ❤️🤙🏽

[@PracticalWisdom]

Haha I'll check it out!

[@modernadulting6857]

The basic rule is to divide up after-tax income and allocate it to spend: 50% on needs, 30% on wants, and socking away 20% to savings. The ultimate lifetime money plan.

[@angelalicea4753]

I think that should be: needs, debts and saving. Paying housing is a need, but pay others things like personal loans and student loans can be in a separate category, because you can live with out pay those. You will have a bad credit history if you do so, but you won't die. Debts: personal loans, student loans, data plan and other monthly payments. Clothes and mechanic are not monthly payments so you can move that money to saving until it is necessary in that way you can earn interest if your saving account have some.

[@aidan.m4p63]

For me since I'll be getting my first job soon I'm going to save 70% and have 30% to spend on stuff I like to do or want since I don't have to pay any bills yet but this sounds like a great way to save money in the future and I'm definitely going to use it

[@elliotramos4495]

Good luck, how's it going?

[@jesussaves9913]

I would like to know too.

[@jdonez8347]

How's it going loser? You get you a job yet? 😅😂😂

[@kiran3555]

Extraordinary video bro , you've should me the way to become rich

[@PracticalWisdom]

Haha glad you like it!

[@natag8010]

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[@РасселКроу-о7и]

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[@bensonrakitic9061]

Damn! daily income is way too important. Money is attracted to those who celebrate it. money follows value. the more value you provide the more m thy oney comes your way. whether someone becomes rich by teaching how to be rich or by learning. i celebrate every broker out there, thank you for adding value to customers. Initially deposited $3,500 to get a return of $10k, but i had access to only a 75% of my profit and the other 25% as commission for expertise.

[@kendethar]

Y'all making these 50/30/20 rules need to elaborate more in depth. How does one know he/she is going over or under on a budgeted want category (i.e. fast food)? If you are over/under on percentage for a need/want, you should adjust either your budget or spending habits. You should be setting up allotments (automatic transfers) in accordance with your budget. Debt payment/savings is more important than wants and should be 30% and wants should be 20%, because the more you tribulation when your young, the better off you'll be when your 40 or retiring. How do you track your money to stay within your budget? Are balancing checkbooks really an effective way? (It's not, because its not real-time for making spending decisions, and so much more.) Is a budget even feasible if your not going to track your money? What does tracking money or budgeting even mean if you don't have your money flow toward a financial goal over time? Do you have a purpose behind why you're using the 50/30/20 rule - do you have financial goals beside just knowing where your money is going? ... there's so much to finances that these videos don't really help on.

[@quentinmenager922]

Love the way you present this budget rule

[@asiborjackilyn3872]

Such great info. Thank you po.

[@vernasinclair2318]

Thank you!💙👍

[@anselmolinero4983]

really this content is very good I used your method and it worked

[@Gorondus]

I think the hardest thing is to decide which is a need and which is a want

[@olimabdanov]

very good tanks iam from uzbekiston

[@elmershort2329]

Mrs Lisa is one of the best fx account managers i can actually vouch for as being honest

[@ayosheyi1587]

i consider it as opportunity to have come across her sHe can help you too only if you are willing to follow what she says

[@abubakaralhassan1695]

what a flourishing coincidence so you invested with lisa_upfx also? this woman is really dominating the trading zone and making things easy for her investors, keep the good works .

[@johnpeter6940]

I think lisa_upfx o'n l'G is a genius for people to come up here and give good reviews about their gains and her profitable strategies, will give a trial and see how it goes then.

[@lapay5545]

Sana all naiintindihan Ang English 😁

[@fanapnansar3036]

50-30-20 rules i really appreciate

[@tramhuynh7883]

Great video with informative content. I can learn more manage finance and saving money through your tutorial. That's great

[@future4407]

Besides home and car what needs include?

[@blgdinger3]

lmao "john's an average guy making $4,500 a month after tax"

[@aaronjackson3217]

ikr that's exactly what i was thinking lol

[@Raymond.Gan25]

@@aaronjackson3217 wait what’s wrong i don’t get it lol

[@AdultingShouldntSuck]

I wonder how many young adults who are just getting started are making as much money as “John the average guy?”

[@vcashout4166]

I make like 2500 a month ..:before taxes

[@squire_squad]

4500? Where can i find that?...

[@techfarm9629]

great video about 50-30-20 money rule"

[@claudiajlc10]

Not sure I can even do that living in Hawaii - cause here is hella expensive..

[@j.ts.2570]

Hey I'd just like to ask what you used to edit this video

[@marymungai4429]

50 % 30% 20 % rule divide your needs wants and saving or paying off debt. great idea 1.. limit your needs to the minimum. adjust your needs 2.difine your wants, 3. save up or pay debt open an emergency account.

[@chucalissa9231]

No!!! Here in the south avarage is 12 $- 15 $ and rent going up 1,000..,you need to evaluate this video to people like US !!

[@theoclarke7564]

Thanks for this going to true it today

[@jordanbrown1337]

Starting today 🔥🔥🙏

[@riunikii]

Love your channel. Such great info. Thanks

[@PracticalWisdom]

Thanks for watching!

[@abdulhakeemhamad9115]

Thanks for the information

[@forever_rockout2.0]

thank u for this

[@trance1986]

In my case is more like 30/10/60 rule. Needs wants save/invest.

[@SeanMusumba]

Thanks for this financial prudence. I'll sure implement it when I earn my first salary. You've earned yourself a new subscriber.

[@alibaltschun2302]

how about vehicle annually tax? is that on saving/dept ?

[@ovolockz5897]

Good Video 😆

[@sebastianbarnhill9990]

Now days I think internet and phone is a need. People need the internet for work and school, and also your mobile device for, once again, work and school. So what are other wants that can be listed? For me my plan is pretty much needs and savings lol

[@kimsohyun4010]

What is the context of this topic?

[@xtremezone4027]

This is great

[@Tmac90-c7n]

I would make my wants my twenty percent and my savings my thirty percent

[@clydedadrumma]

Thats how i do it. Im 22 and im on track to have 6 figures in my savings by the time im 30 and i started with zero lmao

[@adkhamabduvakhidov6891]

Which category does “charity” go???

[@coloradoliving18]

Up to you. For some people charity is a need for others its a want.

[@eyadbouhamdan7107]

Hey is monthly subscription like Netflix a want?

[@user-mn8hb2dh2q]

Yes it is

[@MsRavenousWolf]

Yeah that doesn't work when you make a little over $500 a month. Thankfully my budget plan works but there's not really 3 categories of separation in my plan but two because I only have $13 after setting aside bill money.

[@PracticalWisdom]

Yeah it's not exactly a size fits all, but using it as a model and tailoring it around your personal needs will work wonders.

[@AdultingShouldntSuck]

the 50/30/20 rule doesnt work when youre first starting out and/or don't make a lot of money. Try the 70/10/10/10 Rule. It's a lot more realistic.

[@amiyaanthony2319]

@@AdultingShouldntSuck that’s where I was confused he makes a small 4500 like umm that’s a lot of money when you barely can make a 1000 a month

[@SunkissNia]

Please get into the Hotel business. They start at 15$ and up.

[@gameslacker2711]

@@AdultingShouldntSuck what is the 70/10/10/10 stand for? There's 4 sections to that

[@taylorlee2147]

Smashed the like button on this . Several intelligent people are terrible investors because they face the market with untrained psychology and untamed emotions. . You need to keep raw, irrational emotion under control.

[@logansmith9152]

Really wish I knew what I know now several years ago in my early 20's. Investing today is priceless because tomorrow isn't promised, trading bit-coins, gold, silver and crypto secures a better future financially.

[@schimdtbouchard5484]

This is very true. How many wealthy people or billionaires became wealthy by wages and salaries or by saving in a bank account? You don't even know one right?

[@moorejane4527]

@@schimdtbouchard5484 funny enough they don't know how the fiat money keeps losing value. Our global economic value just keeps declining. Dollar will soon not be the safe haven.

[@heartswillie2658]

Money is like a seed. It doesn't turn into a fruit if you don't sow it. That's the only way it will grow. Keeping your seeds in your barn will only make you poor during the next harvest. With that said. I guess I've explained it all.

[@jackowens6070]

I understand the fact that tomorrow isn't promised to anyone. I've been really interested in making profitable investments this year. But investing today is a hard thing to do because i have no idea of how and where to invest in. There are just several options. Don't know which is the best. Great insight, this is really helpful at times like this.

[@kiran3555]

Can you make a video on Ambani They are Indian billionaire family

[@PracticalWisdom]

I will look into it.

[@grammynominationartistfans7886]

Tell me how to make mindmap WITH THISSSS VIDEO I HATE SCHOOL

[@darude-sandstorm4031]

What do u mean between 4:42 - 4:46

[@darude-sandstorm4031]

Would this method work in the UK also?

[@pompoms]

what should you do with your savings after you have built your emergency fund and invest regularly already

[@coloradoliving18]

Keep investing

[@MrEOM41]

John’s not average 😅 that’s pretty good income.

[@raisufiyan4155]

I want to know how he edit his videos. Can anyone help me? Which software he is using ? And any website or tutorials where i can learn this kind editing ?

[@svetlanikolova2108]

Your needs are food water air shelter Your wants are everything else You buy your wants in cash if you can afford it. Americans think they are entitled and most are in debt because if it

[@PRINCESSGEMINI1987]

Maslow’s hierarchy of needs. Luckily I live in the UK so have national health care. So my health care expense isn’t as expensive as it is for Americans.

[@pumpkingamebox]

“If that amount exceeds 50%, something is wrong” Me, looking at inflation and predatory work/housing in the country: You don’t say.

[@JVLAUTube]

Need to check the video as you switch back and forth from 50-30-20 to 50-20-30.

[@henryrovira5673]

Is 6k/month after taxes a low income?

[@caramellove3946]

No

[@shutupnvibe]

not at all

[@alipetuniashow]

That’s average

[@davidblu9374]

the crypto/stock market is like a roller coaster of emotions, what goes up comes down only to go back again on a daily basis. Many have investments sitting stagnant in their portfolio, accruing absolutely no profits because of inexperience which is why i rather delegate the responsibility of being hi-jacked in the market to an expert sec licensed broker, instead of blowing up my account or making the same mistakes over a serious investment. I have amassed above $56k profit this passed weeks, taking advantage of the BULL and i'm ready to dabble for more!📈

[@amandabynes8929]

Not for nothing is the aphorism. "losses are normal" - at least that's what i thought before i began to realize how genius professionals are in managing risks... Congrats on your achievements..

[@ivadaquino2244]

Hi Willie, I totally agree with your point of view, this pandemic made it clear to me that living off different paychecks will leave me unsettled should i be laid off work. i am sick and tired of working endless night shifts just to meet up my financial obligations and i really need some insights on how to clean up in the financial market. earning $10s of thousands is my short term goal.

[@davidblu9374]

@@ivadaquino2244 you could try reading some books. "the inteligent investor" by Benjamin Graham was insightful to me. i have been with my advisor Maria Giovanna Lupu for 2 years... I started relatively small but we've consistently nurtured a $460k account even with the downturns and trivial thrives during upward cycles.

[@ivadaquino2244]

@@davidblu9374 sure, thanks for recommending.

[@ivb125]

I'm confused on the 30 and 20 because they keep changing it around throughout the video. So is it save 20% and wants are 30? or the other way around?

[@coloradoliving18]

Wants are 30 (Max). However, as others have mentioned you can make the wants as low as possible depending on your indivdual circumstances.

[@metapixusion]

basically as long as you can keep your needs at 50% is the most important rule. The other two categories you can decide to fit your lifestyle. So if your trying to pay off debt then maybe 30% saving/debt will help you more and you can lower your wants to only 20% of your income.

[@skiney]

What if i don't have needs?

[@coloradoliving18]

Then your a mooch ;)

[@michaeladegbenro3075]

People watching in 2024🎉

[@mariadelourdesdasilva3958]

Não sei porque minha professora indicou esse link , só tem inglês aqui, eu não entendo nada😔

[@iphonememes2857]

Am a student how can I used the 50 20 30 rule

[@AdultingShouldntSuck]

the 50/30/20 rule doesnt work when youre first starting out and/or don't make a lot of money. Try the 70/10/10/10 Rule. It's a lot more realistic.

[@turbotonic27]

the 502030 rule is not always applicable

[@audiolego]

Wow.. I'm only at 3700.00 after tax. California tax is.....?

[@StiTchEvidence]

"John's an average guy making 4.5k a month after tax" Yeah nice try. Come up with a new rule for when your needs automatically account for well over 50% of your income. Methinks this channel doesn't understand people and money as much as it thinks it does.

[@AdultingShouldntSuck]

I 1,000% agree with you. The 50/30/20 rule doesn't work when you're first starting out and/or don't make a lot of money. Try the 70/10/10/10 Rule. It's a lot more realistic.

[@alipetuniashow]

That’s how much an average person makes

[@twentynine5846]

John paid after tax

[@weizhenkok5763]

What have you learnt from this video? Who can teach me please?

[@wlbrtsmth3]

Now make a similar rule that helps wen you pay $1000 a month in child support

[@sheasheak2666]

How much do you make a year." "2 million." "Ok spend 1 million on needs."

[@linda283]

Don't you know that rent fees takes already 50% my salary 😒🙄

[@AdultingShouldntSuck]

the 50/30/20 rule doesnt work when youre first starting out and/or don't make a lot of money. Try the 70/10/10/10 Rule. It's a lot more realistic.

[@georgevavoulis4758]

It be easy if we're all paid more than minimum wage

[@marcusjones2961]

😂 learn all this in 9th grade intro to business class 💯

[@dblev2019]

How about you scrap the 50/30/20 nonsense and skip to the 2:03 mark where your encouraged to create a budget!

[@martindejong6496]

50% on needs? This is not a budget for the average person. Most people cant afford to live like that, especially John in this video. That's just rent to start with, making 30-20 nearly impossible in this example.

[@martindejong6496]

Internet and data are wants?!? For majority of people nowadays those are necessary for business. This video is ridiculous. Hard to believe it was made only 4 years ago

[@martindejong6496]

50-30-20 or 50-20-30. The video contradicted itself

[@97boundless]

If more people were like John making $4500 net a month, you wouldn't need to make this video

[@PracticalWisdom]

@Amit Deo haha yeah probably, but none the less, a large paycheck doesn't necessarily mean good money management.

[@wezichirwa5398]

I know people who make a lot of money but have no savings and are living month to month. These videos are more helpful than you would think.

[@AdultingShouldntSuck]

@@PracticalWisdom 100% true

[@fortinawheatley4144]

anyone here from school and just bored 😂

[@harveylewis9285]

Invest in bitcoin and start earning daily.

[@harveylewis9285]

Bitcoin has changed life's including mine

[@harveylewis9285]

With the help of bitcoin investment. I have been doing charity without complain.

[@strangergranger10]

My name is John, but I am not making $4,500 in a month😂😂😂

[@kimsohyun4010]

What is the context of this topic?

[@strangergranger10]

@@kimsohyun4010 The sample name on the video is John and my name is John as welll. In short sarcasm.

[@skabentertainment1763]

👍

[@PracticalWisdom]

Glad you like it!

[@understanding-why]

Poor people mindset.

[@PracticalWisdom]

I guess in away, we all see things differently.

[@jazcelynwilliams1413]

4500 a month average guy 🥴

[@dumspirospero9724]

Really?? 30% on wants??? Worst advice possible

[@AdultingShouldntSuck]

Check out the 70/10/10/10 Rule. It's a lot more realistic for today's economy.

[@coloradoliving18]

30 percent is maximum. Its for people who spend their whole paychecks on things like toys and eating out and then complain they don't make enough to "live"

[@jeremycbarnhart2305]

How is that skinny jean, bearded, hipster, millennial making $4500 a MONTH!??

[@samnate22]

His indie band is doing really well

[@coloradoliving18]

Probably an engineer

[@jdonez8347]

😂😂 anyone still live by this rule? Id be homeless if i did, oh wait i am, welcome to modern day America. I barley scrape by w 50k yearly pre tax. Hate life

[@frankpace5510]

If you mean that you rent, then that's exactly what your income can afford in a major city. However, you could try and find a roommate situation. When I made 50k, I had PhD student roommates who were a lot of fun and very responsible. The rule is really more of a suggestion for how best to live your life. The thing they don't cover is that you have to try really hard. You might have to live off rice and beans. You might have to trade into a cheaper car. Shop car insurance. Get rid of your smart phone or take the bus. It might suck at first, but you'll have a nice retirement nest egg one day or be wealthy. The sooner you do this, the sooner you will become financially independent. One more thing they don't talk about is earning more. If you can't get your budget down and you're too good for the bus, then you need to do whatever it takes to make more. The best benefit from this is if you get laid off for some reason, it will not be a big deal. Unemployment provides about 50% of your income. If that's all you need, then you'll be completely fine during the ups and downs of any economy.

[@ilikestuff7194]

You lost me as soon as you referenced Warren.

[@Ask1twob1]

Nope, I stop watching as soon as it mentioned Warren, bad example.

[@asiborjackilyn3872]

Such a great info. Thank you po.