Why 50-30-20 budgeting ain’t for everyone

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Senator Elizabeth Warren is often cited for popularizing the 50-30-20 budgeting rule. Yahoo Finance's Kesley Barberio breaks down why it doesn’t work for many people.
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Me realizing my needs were way over 50% prompted me to find more affordable living. Once I did that I was able to save and purchase my first home. 😇

tonimendez
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All you have to do is switch the 30% wants to 20% wants and 30% savings. That way you have more if you absolutely need it to pull from the savings

justfacts
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more like 80& needs 10% savings and 10% discretionary

MsShawnPhx
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My Rent is Literally one whole paycheck and i grt paid biweekly.

Needs are more like 75% and thats not including food.

nefspeaks
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What is "wants"? I want to shelter, I want to eat.

yayo
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I like that math better. Is it the same? Yes, but it’s like our gas prices (I.e. $2.699/gal we only see $2.69 not $2.70)

maralovelite