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50-30-20 rule
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[QUOTE="Josemendez, post: 69086, member: 25665"] Have you heard about the 50-30-20 rule ? It is a rule proposed and popularized by Senator Elizabeth Warren in his famous book called , All Your Worth. The rule focussed on setting out the right percentage of ones income to needs , wants and savings. The rule says that 50% should be used for our needs , 30% should be used for our wants and then the remaining 20% should be used for Savings. The rule to be is quite good because it has given high priority to needs . most people do not know the difference between wants and needs. Many people are still using this rule up till now . [/QUOTE]
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