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  • 50 30 20 Rule Worksheet 1

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    The 50/30/20 rule recommends dividing your after-tax income into three categories: 50% for needs, 30% for wants, and 20% for savings and debt repayment. Routine bills are considered needs while predictable goals like vacations are wants. Clothing can be both a need and a want depending on the item. One of the best ways to save is to make the process automatic. The 50/30/20 rule may not apply to every budget as needs and costs can vary significantly between individuals.

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    50 30 20 rule worksheet 1

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    The 50/30/20 rule recommends dividing your after-tax income into three categories: 50% for needs, 30% for wants, and 20% for savings and debt repayment. Routine bills are considered needs while predictable goals like vacations are wants. Clothing can be both a need and a want depending on the item. One of the best ways to save is to make the process automatic. The 50/30/20 rule may not apply to every budget as needs and costs can vary significantly between individuals.

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    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
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    61 views1 page

    50 30 20 Rule Worksheet 1

    Uploaded by

    api-663760583
    The 50/30/20 rule recommends dividing your after-tax income into three categories: 50% for needs, 30% for wants, and 20% for savings and debt repayment. Routine bills are considered needs while predictable goals like vacations are wants. Clothing can be both a need and a want depending on the item. One of the best ways to save is to make the process automatic. The 50/30/20 rule may not apply to every budget as needs and costs can vary significantly between individuals.

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    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
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    50/30/20 Rule banzai.

    org

    50/30/20 Rule
    Login to Banzai, click Banzai Teen, and scroll down to the library section.
    Read the 50/30/20 Budgeting article and use it to answer the questions.

    1. The 50/30/20 rule states that your after-tax income should be divided this way:

    50% to

    30% to

    20% to

    2. What’s the difference between routine bills and predictable goals?

    3. Wants are subjective and personal.

    A. True B. False

    4. How can clothing be both a need and a want?

    5. One of the great secrets to saving is finding ways to make it...


    A. Hurt
    B. Automatic
    C. Difficult
    D. Easy

    6. Should the 50/30/20 rule apply to every budget? Why or why not?

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