New to Budgeting? Try the 50/20/30 RulePosted by Florida Realty Marketplace on
By Lori Johnston - Trulia
Wondering how to budget your money? This simple formula makes it easy.
Managing your money is imperative to help you find the best home within your budget. And no, back of the napkin math won’t cut it. Not only do you need to organize, but you also have to make difficult budgeting decisions about how to spend your cash. This can be overwhelming, but there’s one smart and simple strategy that makes budgeting a breeze. It’s called the 50/20/30 rule, and it can help you track how much you spend and where you can save more, by bucketing your finances into three categories: living essentials, savings, and personal spending. Here’s how it works.
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