What is the 50/30/20 budget rule and why should you follow it?

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What is the 50/30/20 budget rule and why should you follow it?
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  • 📰 The Independent
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Rule was popularised by US presidential hopeful Elizabeth Warren

, is the money you make in after-tax income that must go towards paying bills such as rent or mortgage payments, insurance, utilities, minimum debt payments, car payments, groceries, transportation to work and health care.

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