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What is a 60/30/10 rule budget?

That’s money you can use to put towards your recession rainy day fund. What Is The 60/30/10 Rule Budget? The 60/30/10 rule budget is a strategy where you devote 60% of your income to savings, 30% to needs, and 10% to wants.

What is the 60/30/10 rule?

The 60/30/10 rule budget uses 3 categories of spending to manage your finances. The specific percentages are used to determine what portion of your current income will be applied to which category. First, 60% of your after-tax income will be dedicated to savings, investing, or debt payoff.

Is the 60/30/10 rule suitable for all consumers?

"The 60/30/10 rule may be suitable for all consumers depending on their individual goals and situations but may appeal more to younger generations who can adjust their contributions as their income increases.

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