This Simple Money Rule Will Change Your Life FOREVER

#MoneySaving tips, #50/30/20BudgetRule, #50/30/20BudgetTips #youtube,#trending #budgetingWant to learn about the The 50/30/20 Budget Rule. This Podcast explains the The 50/30/20 Budget Rule. Simply it is a budgeting guideline that divides your after-tax income into 3 main categories 50 percent for needs 30 percent for wants and 20 percent for savings and debt repayment. The 50 percent category needs is half of your income. Last but not least 20 percent goes towards savings and debt repayment. This includes putting money into your emergency fund saving for retirement or paying off high-interest debt. For example if you bring home $3,000.00 a month after taxes , break down will be $1.500.00, for needs $900.00 for wants , $600.00 for savings and debt repayment. Breaking your spending into these categories makes it easier to understand where your money is going and helps you stay in control. Adjustments may be necessary to keep spending within these percentages but the goal is to ensure each category receives a consistent amount of attention improving overall financial balance. Why the 50/30/20 rule works - The beauty of this rule is its simplicity It's easy to follow flexible and helps you focus on your financial priorities without overwhelming you with too much detail. What if my needs are more than 50 percent. If your needs exceed 50 percent try to find ways to cut costs in other areas or reduce your wants budget. You can also aim to gradually bring your expenses down over time. The important part is to use it as a foundation for building healthy spending and saving habits. Use Automation tools like setting up automatic transfers for savings can ensure regular contributions. Also re-evaluate the distribution periodically to match income .changes or major financial goals such as paying off debt or building an emergency fund Tailoring the rule to fit your lifestyle can enhance its impact on your financial health making. It is a sustainable personalized budgeting solution with Quick tips to stick to the 50/30/20 rule. Tips to help you stick to the 50/30/20 rule - use a budgeting app Apps like Plum ,Chip and Monzo can help you track each category easily. The 50/30/20 rule explained It's a simple and effective way to manage your money without feeling overwhelmed. Subscribe below:    / @moneymovesmadeeasytv   WATCH OTHER VIDEOS HERE: How to Start Investing for Beginners:    • If you Want to Begin Investing in 202...   How to Build an Emergency Fund:    • Stop Living Paycheck to Paycheck! - 7...   50/30/20 Budge Rule Explained:    • Take Control Of Your MONEY With The 5...   30 Simple Frugal Living:    • Frugal Living Made Easy 30 Life-Chang...   Understanding Your Credit Score:    • Boost Your CREDIT SCORE FAST With The...   10 Best Side Hustle/Passive Income:    • If You Want to Earn Passive Income in...   10 Best Money Saving Apps:    • 10 Proven Budgeting Apps to Boost You...   How to Create a Budget Simple 8 Steps:    • Everything You Need to Know About Bud...   RESOURCES 1 Click on this link to get your FREE Personal Monthly Budget Tracker Template Guide below: https://tinyurl.com/2mm5592j Click on this link to get your FREE How to Create a Budget: Step-by-Step Guide: https://tinyurl.com/22bffs68 RESOURCES 2 Best Money Saving Apps Guide: https://tinyurl.com/3nrcjd83 Top Side Hustles: https://tinyurl.com/mry7p3kd Simple Frugal Living: https://tinyurl.com/29ehtx4u LINKS: (When available, we use affiliate links and may earn a commission!) ✋ Disclaimer: This video is not sponsored. Some links are affiliate links which means if you buy something Money Moves Made Easy TV may make a small commission at no additional cost to you. As an Amazon Associate, Money Moves Made Easy TV earn from qualifying purchases. Amazon Associates Program Policies: ► https://affiliate-program.amazon.com/ → GET MY FAVOURITE PERSONAL FINANCE BOOKS- AMAZON LINKS: • Personal Finance For Dummies: https://amzn.to/3BNXrgq • Master The Art Of Money- Phil Bellamy: https://amzn.to/3BXuqyP • Rich Dad Poor Dad" by Robert Kiyosaki: https://amzn.to/3VYd6kg • Broke Millennia by Erin Lowry: https://amzn.to/3BMhV9s • The Total Money Makeover by Dave Ramsey: https://amzn.to/3PjeVo9 • I Will Teach You to Be Rich by Ramit Sethi: https://amzn.to/3ZZnV6C • Your Money or Your Life by Vicki Robin and Joe Dominguez: https://amzn.to/4jalQ0L • The Simple Path to Wealth by JL Collins: https://amzn.to/49YuGdF • Stock market investing for beginners: William Bradford: https://amzn.to/49VUmYi FOLLOW SOCIAL MEDIA LINKS BELOW: Instagram:   / moneymovesmadeeasytv   Twitter: https://x.com/MoneyMoves_TV TikTok: https://www.tiktok.com/@moneymovesmad... Pinterest:   / moneymovesmadeasy   Facebook:   / moneymovesmadeeasytv   Email: [email protected]