Having a budget is important. A budget can help you pay off debt faster, save more money, and let you know where you money is being spent. The 50/30/20 budget is a simple budget that will help you keep track of your finances
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7 comments
No one is traveling anytime soon my trip to Switzerland had been canceled
I love this rule! If anybody asks me for personal finance advice, this is the rule I go to. Great video man!
This is exactly what I did when I was in the military. Never inflated my lifestyle either. Once I got out I reset my lifestyle and have slowing transitioned to 50% saving, 20% needs and 30% wants. It’s an awesome feeling. Would not have made it here without staying with the 20/30/50 though.
Great refresher. I use this budget as a guideline but I try very hard to allocate the 30% to savings and 20% to wants. Some months that isnt possible, but as a goal I try to save more. It's my way of being comfortable when I want to purchase something spontaneously.
Helpful video, thank you. Certainly a nice change from all the Lemming You Tubers' who parrot "Stimulus Updates" which most people know about. Good to take a different path.
Given the current time, this is a great video topic. Maybe this will push people to get on a budget after all this is over and we get back to work. Take care Dustin and stay safe!
Budgeting is something not talked about in the point and miles game, but is necessary for playing it.