#50 30 20 rule calculator tv
However, our internet, cable TV and phone bills are also included in this portion. They can include spending on new shoes, eating out at restaurants, and vacationing in Hawaii. These expenses are related to personal lifestyle and entertainment choices. Our most favorite expense! But this fun can sometimes spill over onto your other obligations and bills, and this is where these kinds of budgeting practices can interfere. At the same time, 20% of the income we receive should be set aside for this type of expenditure. If there are no debts to repay, this is where we make contributions to savings or pension funds however, this is if we have decided to manage and maintain them. Include the repayment of accumulated debts such as credit card bills and student loans. These payments should be directed not only towards planning for future budgets but also towards taking care of present ones. The 50% of our monthly income that we receive should also be allocated to this set of needs.Ģ0% for savings and debt repayment. Transportation costs can also be included in this group, given the need to be able to travel in order to not only receive our salary, but also to acquire our basic needs. For example, food, water, shelter, and heat fall into this particular category, which should contain only expenses essential to our existence. Basic expenses (50%)Įveryone needs necessities to survive. The 50/20/30 rule is about dividing your spending habits into percentages and keeping goals tied to those numbers.Įach category gets a certain percentage of your income allocated to it.ĥ0% for necessities such as housing, utilities, food and transportationģ0% for discretionary spending such as entertainment, dining out and hobbies.Įach category is relatively flexible, depending on the needs of you or your family.
It is a quick and straightforward way to calculate needs versus wants and where the money from our monthly income goes. There are many rules for family budgeting, but one of the fundamental ones is the 50/30/20 rule.
0 kommentar(er)
