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Which of the following expenses is a need according to the 50/30/20 rule?a. Travelb. Rentc. Smart TVd. Gym fees

Question

Which of the following expenses is a need according to the 50/30/20 rule?a. Travelb. Rentc. Smart TVd. Gym fees
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Solution 1

The 50/30/20 rule is a simple, practical rule of thumb for individuals who want a budget that is easy, yet effective, to implement.

The rule states that you should spend up to:

  • 50% of your after-tax income on needs
  • 30% on wants
  • 20% on savings and debt repayment

We categorize expenses into " Knowee AI is a powerful AI-powered study tool designed to help you to solve study problem.

Knowee AI  is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI  is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI  is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI  is a powerful AI-powered study tool designed to help you to solve study problem.
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