Do you believe that this rule, in today’s context, supersedes the traditional 50-30-20 rule for budgeting?
1 Like
Given the shifting priorities for savings and spending, the new regulation may be more appropriate for the current state of the economy. For many, nevertheless, the conventional 50-30-20 ratio continues to be a reliable guideline. It’s critical to modify budgeting guidelines to meet individual financial objectives and circumstances. To handle finances effectively, flexibility is essential.
Wow. thanks for the tip. I’ve been struggling with saving and paying bills.
Just researched the 70-20-10 rule and it makes sense.
I’ve never set aside money for donations or emergencies because I always tend to overspend no matter how much I vow to change my ways