1
What does 50 stand for in the 50/30/20 rule?
Essentials/Needs
What are examples of the 30 in the 50/30/20 rule?
Vacation, Going out to eat, Concert
What does the 20 mean in 50/30/20?
Savings
What is the pay called before taxes come out of your paycheck?
Gross Pay
What is the other saving strategies involving numbers?
70/20/10
Whats the time frame for how much you should save for the emergency account?
3-6 months
What does "pay yourself" mean?
It helps you try to save your money
Can low income people use the 50/30/20 rule? If so, why?
Yes, but need to adjust the % to fit their reduced income.