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Is the 50-15-5-30 financial planning model the best model?
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[QUOTE="Etini, post: 346715, member: 90141"] People talk so much about saving models that are truly reflective of the reality of living a balanced lifestyle. And it seems like one of the best models for financial planning is the 50-15-5-30 model. Let's break it down. In this model: 50% or your income goes to basic needs like food, shelter and utilities. 15% of your income goes to wants which include your fun stuff. 5% of your income goes to all kinds of savings including that for projects, emergency and retirement savings. 30% of your income goes to repay debts. I feel this budgeting method perfectly captures the major financial expenses that a reasonable human should make to live today, and secure tomorrow. What do you think? [/QUOTE]
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Is the 50-15-5-30 financial planning model the best model?
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