Video - Master Your Finances: The 50-30-20 Rule

Today, let’s dive into a simple yet powerful financial strategy—the 50-30-20 rule. Ready to take control of your finances? Let’s go!” “First up, 50% of your income goes to needs. These are essential expenses like rent, groceries, and utilities. Make sure these are covered first!” Next, 30% of your income is for wants. This includes things like dining out, hobbies, and entertainment. It’s important to enjoy life, but remember to keep it within this budget!” Finally, 20% should go towards savings or paying off debt. This helps you build a financial cushion and reduce liabilities. Think of it as investing in your future!”