Strategies for Savings

1

100

What does 50 stand for in the 50/30/20 rule?

Essentials/Needs

200

What does the 20 mean in 50/30/20?

Savings

300

What is the other saving strategies involving numbers?

70/20/10

2

100

What are examples of the 30 in the 50/30/20 rule?

Vacation, Going out to eat, Concert

200

What is the pay called before taxes come out of your paycheck?

Gross Pay

300

Whats the time frame for how much you should save for the emergency account?

3-6 months

3

300

What does "pay yourself" mean?

It helps you try to save your money

400

Can low income people use the 50/30/20 rule? If so, why?

Yes, but need to adjust the % to fit their reduced income.