Learn the 50/30/20 rule

IT'S NICE TO SHARE:

This rule of thumb says that of your monthly income 50% should go toward your fixed expenses, 30% toward lifestyle expenses such as food, clothing, entertainment and travel and 20% toward savings and debt reduction. Run the numbers to determine what your financial picture should look like. Remember, you can spend less than this, and it’s encouraged, just make sure you’re not spending more.   

IT'S NICE TO SHARE: