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What does the 50-30-20 rule?

What is the 50-30-20 rule? One particular tool that can be extremely useful in terms of those individuals who may not have the patience when it comes to tracking spending in certain categories is a tool known as the 50/30/20 rule budget.

While the 50/30/20 rule budget is a tool that may actually be great for some people, it’s important to note that whether or not it’s right for you will depend on your own specific set of circumstances. For instance, while having only three specific categories to help keep track of your finances may be a great way to prevent you from getting too bogged down in terms of categorizing expenses individually, there is also the chance that the overall lack of structure could potentially make it more difficult to find ways in which you can improve your spending habits.  

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