The 50/30/20 budget is a way to allocate your after-tax income, it uses 3 principles to do this.
If you’re new to budgeting and want a simple way to organize your money the 50/30/20 budget can be a great way to start.
Needs are what they say on the tin they are what you absolutely cannot live without. On your needs budget you might find the following: - Rent - Utility Bills - Essential Travel Costs - Insurance
The financial goals section covers 2 main areas: – Any saving goals you have – Debt repayment (not the minimum amounts but additional payments to save you money in the long term on hefty interest)