Take our business and investing quiz to test your recall for the week ending June 30
The 50/30/20 rule is a common budgeting system. What are the allocations?
a. A 50 per cent is allocated for necessities, 30 per cent for things you want and 20 per cent for savings and debt repayment. b. 50 per cent is allocated for savings and debt repayment, 30 per cent for things you want and 20 per cent for necessities. c. 50 per cent is allocated for things you want, 30 per cent for savings and debt repayment and 20 per cent for necessities.where 50 per cent of your income is allocated for necessities like food and rent, 30 per cent for things you want, and 20 per cent for savings and debt repayment. It’s common method of allocating money because it’s simple and less constraining than other techniques.
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