{"id":27290,"date":"2023-05-04T06:57:37","date_gmt":"2023-05-04T05:57:37","guid":{"rendered":"https:\/\/www.lendingstream.co.uk\/blog\/?p=27290"},"modified":"2023-09-07T10:11:13","modified_gmt":"2023-09-07T10:11:13","slug":"50-30-20-rule","status":"publish","type":"post","link":"https:\/\/www.lendingstream.co.uk\/blog\/50-30-20-rule\/","title":{"rendered":"50\/30\/20 Rule &#8211; A Detailed Guide to Manage Your Budget"},"content":{"rendered":"\n<p><strong>The 50\/30\/20 rule is a common budgeting method <\/strong>to manage your finances. It allows you to allocate the spending categories in your personal or household budget. This budgeting strategy is divided in three categories. <strong>50% for necessities<\/strong>. <strong>30% for discretionary spending<\/strong>. <strong>20% for savings and debt repayment<\/strong>.<\/p>\n\n\n\n<p>This article thoroughly explores the 50\/30\/20 budget rule. And provides tips on implementing it successfully.<\/p>\n\n\n\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_82_2 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-69f2ac67f0857\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-69f2ac67f0857\"  aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/www.lendingstream.co.uk\/blog\/50-30-20-rule\/#50_for_necessities\" >50% for necessities<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/www.lendingstream.co.uk\/blog\/50-30-20-rule\/#30_for_wants\" >30% for wants<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/www.lendingstream.co.uk\/blog\/50-30-20-rule\/#20_for_savings\" >20% for savings<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/www.lendingstream.co.uk\/blog\/50-30-20-rule\/#why_do_you_need_a_personal_budget\" >Why do you Need a Personal Budget?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/www.lendingstream.co.uk\/blog\/50-30-20-rule\/#methods_of_personal_budgeting\" >Methods of Personal Budgeting<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/www.lendingstream.co.uk\/blog\/50-30-20-rule\/#50_30_20_budgeting_method\" >50 30 20 budgeting method<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/www.lendingstream.co.uk\/blog\/50-30-20-rule\/#cash-only_or_envelope_budgeting\" >Cash-only or envelope budgeting<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/www.lendingstream.co.uk\/blog\/50-30-20-rule\/#zero-based_budgeting\" >Zero-based budgeting<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/www.lendingstream.co.uk\/blog\/50-30-20-rule\/#the_60_budgeting_method\" >The 60% budgeting method<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/www.lendingstream.co.uk\/blog\/50-30-20-rule\/#spending_limitcap_budget\" >Spending limit\/Cap budget<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/www.lendingstream.co.uk\/blog\/50-30-20-rule\/#how_can_the_50-30-20_rule_save_you_more\" >How can the 50-30-20 rule save you more?<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/www.lendingstream.co.uk\/blog\/50-30-20-rule\/#make_adjustments\" >Make adjustments<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/www.lendingstream.co.uk\/blog\/50-30-20-rule\/#cut_down_your_wants\" >Cut down your wants&nbsp;<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/www.lendingstream.co.uk\/blog\/50-30-20-rule\/#a_retirement_bonus\" >A retirement bonus<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/www.lendingstream.co.uk\/blog\/50-30-20-rule\/#put_more_money_aside\" >Put more money aside<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-16\" href=\"https:\/\/www.lendingstream.co.uk\/blog\/50-30-20-rule\/#pay_your_debts_faster\" >Pay your debts faster<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-17\" href=\"https:\/\/www.lendingstream.co.uk\/blog\/50-30-20-rule\/#final_thoughts\" >Final Thoughts<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"50_for_necessities\"><\/span><strong>50% for necessities<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>You can divide 50% of your monthly after tax income into your needs. You should spend no more than half of your income on essential expenses. These expenses must be necessary for your survival and well-being.<\/p>\n\n\n\n<p><strong>It includes expenses from different categories, such as:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Housing<\/strong>: Rent or mortgage payments, <\/li>\n\n\n\n<li><strong>Utilities:<\/strong> Gas and Electric, Council Tax, <strong><a href=\"https:\/\/www.lendingstream.co.uk\/blog\/how-to-save-money-on-water-bill\/\" target=\"_blank\" rel=\"noreferrer noopener\">water<\/a><\/strong>, internet, etc.<\/li>\n\n\n\n<li><strong>Food<\/strong>: Groceries, household supplies, and toiletries.<\/li>\n\n\n\n<li><strong>Transportation<\/strong>: Car payments, gas, insurance, and maintenance costs.<\/li>\n\n\n\n<li><strong>Healthcare<\/strong>: Health insurance, prescriptions, and other health care expenses.<\/li>\n\n\n\n<li><strong>Debt payments<\/strong>: Minimum payments on credit card debt, <strong><a href=\"https:\/\/www.lendingstream.co.uk\/loans\/payday-loans\/\" target=\"_blank\" rel=\"noreferrer noopener\">payday loans<\/a><\/strong>, <strong><a href=\"https:\/\/www.lendingstream.co.uk\/loans\/short-term-loans\/\" target=\"_blank\" rel=\"noreferrer noopener\">short term loans<\/a><\/strong>, and other debts.<\/li>\n<\/ul>\n\n\n\n<p>You must be honest when allocating your income to the needs category. While a gym membership may be great for your health. Is it a want rather than a need? Instead of going to the gym, you can do other types of exercise.<\/p>\n\n\n\n<p>A large house or expensive car may be desirable. But could a cheaper to run one do the same job?<\/p>\n\n\n\n<p>Allocating 50% of income to needs ensures you have money for essential expenses. This saves you from overspending. It can help you avoid financial stress. It contributes towards your monthly targets. You can even save the extra money towards your individual pension.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"30_for_wants\"><\/span><strong>30% for wants<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Allocate 30% of your income towards wants. This means that you are dedicating a smaller portion of your available resources. Such as money, time, or energy, to things that are not strictly necessary for survival or basic needs. This includes entertainment, hobbies, travel, luxury items, and other non-essential expenses.<\/p>\n\n\n\n<p>There are a few reasons why someone might choose to allocate 30% of their resources towards wants:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Savings: <\/strong>Allocating a smaller percentage towards wants can help you save more money. Whether for emergencies or future goals. Prioritising your needs over your wants, can ensure you have enough money to cover basic expenses. And also put some money aside for the future.<\/li>\n\n\n\n<li><strong>Responsibility:<\/strong> By dedicating a smaller percentage towards wants, you take responsibility for your financial situation. It helps ensure you are <strong><a href=\"https:\/\/www.lendingstream.co.uk\/blog\/how-to-stop-spending-money-on-unnecessary-things\/\" target=\"_blank\" rel=\"noreferrer noopener\">not overspending on unnecessary items<\/a><\/strong>. This can help you avoid debt and financial stress in the long run.<\/li>\n\n\n\n<li><strong>Prioritisation: <\/strong>By allocating 30% towards wants, you prioritise your basic needs over your desires. This can help you stay focused on what is truly important. You can avoid impulse buying or overspending on things you don&#8217;t need.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"20_for_savings\"><\/span><strong>20% for savings<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Allocate 20% of your resources towards savings. This means dedicating a portion of your available resources, such as money, time, or energy, towards building a financial cushion for the future. This can include saving for emergencies, retirement contributions, pension fund, or other long-term goals.<\/p>\n\n\n\n<p>There are a few reasons why someone might choose to allocate 20% of their resources towards savings:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.lendingstream.co.uk\/blog\/emergency-fund\/\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>Emergency fund<\/strong><\/a>: Building an emergency fund is one of the most important reasons to save money. A cushion of savings can help you cover unexpected expenses. Be it medical bills or car repairs, without relying on credit card debt or loans.<\/li>\n\n\n\n<li><strong>Retirement: <\/strong>Saving for retirement is essential to ensure you can live comfortably in your golden years. Allocating some of your resources towards pension savings can help you build a backup. This will support you when you&#8217;re no longer working.<\/li>\n\n\n\n<li><a href=\"https:\/\/www.lendingstream.co.uk\/blog\/how-to-set-financial-goals\/\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>Long-term financial goals<\/strong><\/a>: Putting money into savings can also help you achieve long-term goals. Such as: buying a home. Starting a business. Or paying for your children&#8217;s education. By dedicating towards these goals, you can progress steadily over time and achieve financial independence.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"why_do_you_need_a_personal_budget\"><\/span><strong>Why do you Need a Personal Budget?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"532\" height=\"399\" src=\"https:\/\/www.lendingstream.co.uk\/blog\/wp-content\/uploads\/2023\/05\/Why-do-you-Need-a-Personal-Budget.jpg\" alt=\"Why do you Need a Personal Budget\" class=\"wp-image-27291\" srcset=\"https:\/\/www.lendingstream.co.uk\/blog\/wp-content\/uploads\/2023\/05\/Why-do-you-Need-a-Personal-Budget.jpg 532w, https:\/\/www.lendingstream.co.uk\/blog\/wp-content\/uploads\/2023\/05\/Why-do-you-Need-a-Personal-Budget-300x225.jpg 300w, https:\/\/www.lendingstream.co.uk\/blog\/wp-content\/uploads\/2023\/05\/Why-do-you-Need-a-Personal-Budget-80x60.jpg 80w, https:\/\/www.lendingstream.co.uk\/blog\/wp-content\/uploads\/2023\/05\/Why-do-you-Need-a-Personal-Budget-265x198.jpg 265w\" sizes=\"(max-width: 532px) 100vw, 532px\" \/><\/figure>\n\n\n\n<p>The purpose of creating a personal budget is to keep track of your spending. Be that shopping habits or income tax. This helps decide which expenses are necessary and which ones are optional. It helps create savings for larger expenses like holidays or provision for expenses after retirement.<\/p>\n\n\n\n<p>There are <strong><a href=\"https:\/\/www.lendingstream.co.uk\/blog\/top-four-free-budgeting-apps\/\" target=\"_blank\" rel=\"noreferrer noopener\">free budgeting apps<\/a><\/strong> that can help you monitor existing debt and disposable income.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"methods_of_personal_budgeting\"><\/span><strong>Methods of Personal Budgeting<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"50_30_20_budgeting_method\"><\/span><strong>50 30 20 budgeting method<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p><strong>This method divides expenses into needs, wants, and savings. 50% of the monthly income is allotted for needs, 30% for wants, and 20% for savings.<\/strong> This is also known as the balanced money formula.&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"cash-only_or_envelope_budgeting\"><\/span><strong>Cash-only or envelope budgeting<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>This advice is about physically withdrawing money. Then splitting it into various envelopes based on your expenses. Expenditure for a particular purpose must only be made from the corresponding envelope. This will help control overspending across categories and help you stick to your budget.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"zero-based_budgeting\"><\/span><strong>Zero-based budgeting<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>In zero-based budgeting, you allocate every penny of your take-home income for something. So, in other words, your income precisely matches your account&#8217;s outflow. The excess income in your savings account will be considered consumption and will be budgeted accordingly.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"the_60_budgeting_method\"><\/span><strong>The 60% budgeting method<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>This method suggests allocating 60% of your income towards all necessary spending. Categories like groceries, basic clothes, insurance, and utilities. The balance of 40% is divided into 4 equal categories of 10% each.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Retirement\/ultimate lifetime money plan<\/li>\n\n\n\n<li>Long-term savings in your savings account<\/li>\n\n\n\n<li>Short-term savings&nbsp;<\/li>\n\n\n\n<li>Fun money<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"spending_limitcap_budget\"><\/span><strong>Spending limit\/Cap budget<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>As the name suggests, the spending limit or cap budget restricts what you can spend in a month. This restricted spending includes everything you want to put towards savings for the future or spend on routine expenses.<\/p>\n\n\n\n<p>For example, if you are earning 5000 pounds a month, you may set your spending limit to 4500. Do so you don\u2019t allow yourselves to use your money after the 4,500 pounds are exhausted.&nbsp;&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"how_can_the_50-30-20_rule_save_you_more\"><\/span><strong>How can the 50-30-20 rule save you more?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The most significant advantage of the 50-30-20 rule is it gives you a clear direction on how to live within your means and save more with proper money management.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"make_adjustments\"><\/span><strong>Make adjustments<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>The 50-30 20 rule gives a picture that clarifies when you need to take charge of your bank account. For example, if you notice you are spending too much on <strong><a href=\"https:\/\/www.lendingstream.co.uk\/blog\/how-to-save-money-on-food\/\" target=\"_blank\" rel=\"noreferrer noopener\">groceries<\/a><\/strong>, you may consider buying groceries required for a few months at once and avail discounts.<\/p>\n\n\n\n<p>You may also consider curtailing some of the impulsive purchases. 50 30 20 rule gives you this transparency in your spending patterns and helps you adjust accordingly.&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"cut_down_your_wants\"><\/span><strong>Cut down your wants&nbsp;<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>If your expenses in the wants category are going beyond their assigned 30% level, it is an indication to keep a check on your spending patterns. Reduce the number of times you go out, party with your friends, order food or plan to purchase items that can be avoided, such as the iPhone.<\/p>\n\n\n\n<p>A little bit of a change can have a significant impact on your spending patterns. Simple habits like making your coffee or cooking your food at home can add to huge savings over a considerable period.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"a_retirement_bonus\"><\/span><strong>A retirement bonus<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>You can skyrocket your savings without impacting the 50% and 30% categories if your employer has an employee retirement account or pension plan. Some employers match your retirement savings contributions, and you receive an automatic bonus.&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"put_more_money_aside\"><\/span><strong>Put more money aside<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Savings are extremely important. Some monthly expenses can otherwise leave you struggling with <strong><a href=\"https:\/\/www.lendingstream.co.uk\/blog\/bad-credit-score\/\" target=\"_blank\" rel=\"noreferrer noopener\">bad debt<\/a><\/strong>. Look for ways to cut expenses and <strong><a href=\"https:\/\/www.lendingstream.co.uk\/blog\/how-to-save-money-each-month\/\" target=\"_blank\" rel=\"noreferrer noopener\">save more<\/a><\/strong> if you realise you are not saving sufficiently.&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"pay_your_debts_faster\"><\/span>Pay your debts faster<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>After establishing the emergency fund, consider paying off credit card debts and other debts like <strong><a href=\"https:\/\/www.lendingstream.co.uk\/loans\/cash-loans\/\" target=\"_blank\" rel=\"noreferrer noopener\">cash loans<\/a><\/strong>, <strong><a href=\"https:\/\/www.lendingstream.co.uk\/loans\/unsecured-loans\/\" target=\"_blank\" rel=\"noreferrer noopener\">unsecured loans<\/a><\/strong>, etc., as quickly as possible. This will help you put more money aside for investments and <strong><a href=\"https:\/\/www.lendingstream.co.uk\/blog\/best-ways-to-save-money\/\" target=\"_blank\" rel=\"noreferrer noopener\">savings for the future<\/a><\/strong>.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"final_thoughts\"><\/span>Final Thoughts<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p><strong>The primary aim of the 50-30-20 budgeting rule is to create a financial cushion.<\/strong> It provides for unforeseen emergencies and future retirement needs. The 50-30-20 rule is a popular and effective method for managing finances. It helps establish a clear and achievable financial plan.<\/p>\n\n\n\n<p>This budgeting approach provides a balanced way to manage your money. It ensures you meet basic needs while enjoying life\u2019s luxuries and saving for the future.&nbsp;<\/p>\n\n\n\n<p>The principles of the 50-30-20 rule remain sound. But the exact allocation may vary depending on your personal financial goals. This helps you take control of your finances and achieve <a href=\"https:\/\/www.lendingstream.co.uk\/blog\/financial-stability\/\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>financial security<\/strong><\/a>.<\/p>\n\n\n\n<p>You can build a solid financial foundation by sticking to this budgeting approach. This will help you achieve your long-term financial goals. But you\u2019ll have to review and adjust your finances as needed.<\/p>\n\n\n\n<p><strong>Disclaimer:<\/strong> The information given above is provided for reference only. This is not financial advice.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The 50\/30\/20 rule is a common budgeting method to manage your finances. It allows you to allocate the spending categories in your personal or household budget. This budgeting strategy is divided in three categories. 50% for necessities. 30% for discretionary spending. 20% for savings and debt repayment. This article thoroughly explores the 50\/30\/20 budget rule. [&hellip;]<\/p>\n","protected":false},"author":48,"featured_media":27293,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[139],"tags":[],"class_list":["post-27290","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-money"],"_links":{"self":[{"href":"https:\/\/www.lendingstream.co.uk\/blog\/wp-json\/wp\/v2\/posts\/27290"}],"collection":[{"href":"https:\/\/www.lendingstream.co.uk\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.lendingstream.co.uk\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.lendingstream.co.uk\/blog\/wp-json\/wp\/v2\/users\/48"}],"replies":[{"embeddable":true,"href":"https:\/\/www.lendingstream.co.uk\/blog\/wp-json\/wp\/v2\/comments?post=27290"}],"version-history":[{"count":4,"href":"https:\/\/www.lendingstream.co.uk\/blog\/wp-json\/wp\/v2\/posts\/27290\/revisions"}],"predecessor-version":[{"id":27648,"href":"https:\/\/www.lendingstream.co.uk\/blog\/wp-json\/wp\/v2\/posts\/27290\/revisions\/27648"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.lendingstream.co.uk\/blog\/wp-json\/wp\/v2\/media\/27293"}],"wp:attachment":[{"href":"https:\/\/www.lendingstream.co.uk\/blog\/wp-json\/wp\/v2\/media?parent=27290"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.lendingstream.co.uk\/blog\/wp-json\/wp\/v2\/categories?post=27290"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.lendingstream.co.uk\/blog\/wp-json\/wp\/v2\/tags?post=27290"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}