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The 50/30/20budgetingrule has long been the gold standard.
However, many Americans do not actually stick to this rule.
Heres why Americans are ditching the 50/30/20 budgeting rule andwhy this might be a mistake.
Is the 50/30/20 Budget Still the Ideal?
While the 50/30/20 budget may be a helpful guide, it wont work for everyones budget.
The biggest issue, however, is that many Americans are having todevote too much of their budgetsto needs.
The question for each person is: How do you define needs?
Could they pull just 4% into the savings bucket?
If not, could they aim to do 1% more each month until they get to 20%?
However, Rebell acknowledges that the 50/30/20 budgetmay simply not be feasible for everyone.
It [might] make sense to reframe some needs.
A good example might be a gym membership.
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