how to manage your money 50 30 20 rule

how to manage your money 50 30 20 rule

in this video i present a high level overview on how to manage your money using the 50/30/20 rule.

money management is 90% discipline and 10% knowledge. the 50/30/20 rule will force you to create a budget and understand where every single one of your after-tax dollars is going.

50% of your budget should be spent on needs which are are things that are essential to life and that you literally cannot live without.

30% should be spent on wants which could be classified as things that bring you joy and happiness, but are not essential to living. (dining out, entertainment, hobbies, etc.)
the final 20% should be spent on savings, paying off debt, and retirement planning.

i feel like a lot of people confuse wants for needs, and we know the difference deep down, but we really want the one that we don't have the self-discipline to say no.

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schedule a coaching call with me
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check out my blog:
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follow me on instagram
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instrumental produced by chuki:
http://www.youtube.com/user/chukimusic

about me

in this video i present a high level overview on how to manage your money using the 50/30/20 rule. money management is 90% discipline and 10% knowledge. the 50/30/20 rule will force you to create a budget and understand where every single one of your after-tax dollars is going. 50% of your budget should be spent on needs which are are things that are essential to life and that you literally cannot live without. 30% should be spent on wants which could be classified as things that bring you joy and happiness, but are not essential to living. (dining out, entertainment, hobbies, etc.) the final 20% should be spent on savings, paying off debt, and retirement planning.i feel like a lot of people confuse wants for needs, and we know the difference deep down, but we really want the one that we don't have the self-discipline to say no. wbf university - join my school here► https://whiteboardfinance.com/wbf-university-waitlistexclusive: get 1-3 free stocks valued up to $3500 on moomoo⮕ https://whiteboardfinance.com/go/moomoofundrise - invest in real estate for only $500► https://whiteboardfinance.com/go/fundrisem1 finance - invest for free (yes, really)► https://whiteboardfinance.com/go/m1-financemy free m1 finance training video► https://whiteboardfinance.com/go/m1-finance-trainingmy free stock market for beginners guide► https://whiteboardfinance.com/go/stockmarket4beginnersget my home affordability spreadsheet here► https://www.patreon.com/whiteboardfinanceschedule a coaching call with me► https://whiteboardfinance.com/go/marko-coachinghow to buy & store bitcoin► https://whiteboardfinance.com/go/bitcointhe best credit cards to use right now► https://whiteboardfinance.com/go/best-credit-cardscheck out my blog:► https://whiteboardfinance.comfollow me on instagram► https://www.instagram.com/whiteboardfinanceinstrumental produced by chuki:http://www.youtube.com/user/chukimusicabout me

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in this video i present a high level overview on how to manage your money using the 50/30/20 rule.

money management is 90% discipline and 10% knowledge. the 50/30/20 rule will force you to create a budget and understand where every single one of your after-tax dollars is going.

50% of your budget should be spent on needs which are are things that are essential to life and that you literally cannot live without.

30% should be spent on wants which could be classified as things that bring you joy and happiness, but are not essential to living. (dining out, entertainment, hobbies, etc.)
the final 20% should be spent on savings, paying off debt, and retirement planning.

i feel like a lot of people confuse wants for needs, and we know the difference deep down, but we really want the one that we don't have the self-discipline to say no.

wbf university - join my school here
► https://whiteboardfinance.com/wbf-university-waitlist

exclusive: get 1-3 free stocks valued up to $3500 on moomoo
⮕ https://whiteboardfinance.com/go/moomoo

fundrise - invest in real estate for only $500
► https://whiteboardfinance.com/go/fundrise

m1 finance - invest for free (yes, really)
► https://whiteboardfinance.com/go/m1-finance

my free m1 finance training video
► https://whiteboardfinance.com/go/m1-finance-training

my free stock market for beginners guide
► https://whiteboardfinance.com/go/stockmarket4beginners

get my home affordability spreadsheet here
► https://www.patreon.com/whiteboardfinance

schedule a coaching call with me
► https://whiteboardfinance.com/go/marko-coaching

how to buy & store bitcoin
► https://whiteboardfinance.com/go/bitcoin

the best credit cards to use right now
► https://whiteboardfinance.com/go/best-credit-cards

check out my blog:
► https://whiteboardfinance.com

follow me on instagram
► https://www.instagram.com/whiteboardfinance

instrumental produced by chuki:
http://www.youtube.com/user/chukimusic

about me