The 50/20/30 Rule is a principle developed by the financial gurus at LearnVest to help you maintain your budget.
How does the rule work?
Out of each monthly pay period, 50% of your earnings (after tax) should go toward essentials (such as food, utilities and transportation to and from work), 20% should go to priorities (such as emergency savings and retirement) and 30% should go into a lifestyle fund (for activities such as travel and entertainment).
The LearnVest My Money Center membership is free, allowing you to monitor your spending, set goals and know exactly where you’re money is going so that you can develop habits to help your budget stay on track.
How do you manage your personal budget?