Personal Finance

The 50/20/30 Rule and How to Do Better (Part 1: Tracking)

In one of my earlier posts, I discussed the 50/20/30 Rule and why we must do better. I will continue to build on that post by expanding on the steps to do this. I'm a restoration ecologist. I live in my truck. Why would any of my financial advice be relevant? My financial cred is… Continue reading The 50/20/30 Rule and How to Do Better (Part 1: Tracking)

Personal Finance

The 50/20/30 Rule and Why You Must Do Better

What is the 50/20/30 Rule? This is a popular modern financial guideline that dictates how to distribute your after-tax income. 50% fixed costs (bills, transportation, groceries, needs) 20% savings (savings account, retirement) 30% flexible costs (dining out, entertainment, wants) The problem with the 50/20/30 Rule is that it is not designed to get you out… Continue reading The 50/20/30 Rule and Why You Must Do Better