Have you ever wondered how how your spending and saving stack up against the 50/30/20 “rule”?
Grab your FREE Financial Fit Check today to find out!
Have you ever heard of the 50-30-20 “rule”? Are you wondering what it's all about and how your spending and saving compare? Well, you’re in the right place my friend!
The 50-30-20 “rule” isn’t actually a rule. It’s more of a guideline to follow so that you can be sure that you are:
living within your means and
setting aside money to reach your financial goals.
It simply means that a maximum of 50% of your income should go to your “needs”, a maximum of 30% of your income should go to your “wants”, and at least 20% of your income should go to your “goals” (extra debt payments, savings, and/or investments combined).
I’ve created a free tool called the Financial Fit Check that you can use to see how close your spending and saving is to the 50/30/20 rule.
The Financial Fit Check is an easy-to-use spreadsheet that you can use to see how your spending and saving compare to the 50/30/20 rule. The tool will provide you totally clarity on this important component of your financial health.
Simply plug in your numbers and then check the “Your Results” tab. There is absolutely no math or formulas to use! You can even put in weekly, bi-weekly, or yearly amounts.
Use to tool to:
see if you are spending more than your would like to on your “needs” or “wants”
decide where you can make adjustments so that you are not spending more than you are earning
figure out how much you can put towards your credit card debt
play around with different future scenarios (like buying a new car or saving for a trip)