This budgeting method is that is doesn’t give any clear guidelines on HOW to On her car loan to pay it off MUCH quicker! How Do You Pay Off Debt With A 50 / 20 / 30 Budget? Is in line with the 50 / 30 / 20 rule, and she can put more toward debt payoff $150 (more shopping online + Rakuten cash back!) Spending might look like in her life: NEEDSīrittney is currently overspending on her NEEDS and WANTS, and is not puttingĮnough toward her debt payoff and savings to fit the 50 / 30 / 20 rule.Ĭurrent spending to fit the rule, her updated budget would look like this: NEEDS Spending and then ADJUST her life to fit the 50 / 30 / 20 guidelines. Brittney will need to take a look at her current Percentages, Brittney is going to take her $4,000 income, and split it up 3įor SAVINGS / DEBT PAYOFF Step 3: Adjust Your ACTUAL Spending To Fit Step 2: Split your income between the 3 categories Her total monthly income that she will budget based For those paidīi-weekly, this will be the total of 2 paychecks. You need to figure out your total monthly take-home pay. How To Set Up A 50 / 30 / 20 Budget Step 1: Figure out your total monthly income
Paycheck, it makes way more sense to budget on your take-home payĪn example of how this would look in a monthly budget. The 20% for savings, but since your 401k is deducted before you get your According to the book, your 401k should be included in