Money
Yes, you’ve got the option to still go out for drinks with the girls.
Once you decide tostart saving moneyit can feel like your entire social life goes out the window.
If youre looking for a little more wiggle room in your budget, the50/30/20 rulemight be your jam.
Heres everything you oughta know about this budgeting plan.
But what a budget looks like will be different for everyone.
For some, having a budget might mean focusing on saving.
For others, it might mean focusing on necessities.
The 50/30/20 plan considers these important factors, too, but leaves a good chunk left over.
This rule allows for flexibility because it sets aside a portion of your income for wants, says ONeill.
Twenty percent isnt a ton of money to stash in savings, but its not nothing.
According to Cisneros, this plan is also wonderfully simple.
Its easy to understand and implement, whichmakes budgeting less daunting, she says.
Simply divvy up your paycheck and distribute accordingly.
Including the 30% category makes the budget more sustainable in the long term, says Cisneros.
This balance can help prevent feelings of deprivation and reduce the likelihood of abandoning the budget altogether.
Thirty percent is alsojustenough to have fun without putting yourself in a tight financial spot.
Its likely your monthly needs category like your rent, utilities, car payment, etc.
Do you have a girls trip thats coming up?
Is your favorite artist announcing a tour?
Give this budget a try for a few months to see if it works for you.
Its also good to keep in mind that budgeting hacks are just guidelines.
Things may come up where you’re gonna wanna adjust your categories, says ONeill.
Or if you havemultiple weddings to attend, your spending in the wants category may be slightly higher.
