This video shows an overview on how to manage money using the 50/30/20 Rule. Money management is 90% discipline and 10% knowledge. The 50/30/20 rule will force a person to create a budget and understand where tax dollars are going. Use 50% of your budget to spend on needs that are essential to life. Use 30% to spend on wants which could be classified as things that bring joy and happiness. The final 20% can be spent on savings, paying off debt, and retirement planning.
By Alex Stevens
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