Josemendez
Verified member
Have you heard about the 50-30-20 rule ? It is a rule proposed and popularized by Senator Elizabeth Warren in his famous book called , All Your Worth.
The rule focussed on setting out the right percentage of ones income to needs , wants and savings.
The rule says that 50% should be used for our needs , 30% should be used for our wants and then the remaining 20% should be used for Savings.
The rule to be is quite good because it has given high priority to needs . most people do not know the difference between wants and needs. Many people are still using this rule up till now .
The rule focussed on setting out the right percentage of ones income to needs , wants and savings.
The rule says that 50% should be used for our needs , 30% should be used for our wants and then the remaining 20% should be used for Savings.
The rule to be is quite good because it has given high priority to needs . most people do not know the difference between wants and needs. Many people are still using this rule up till now .