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The 50/30/20 budgeting rule is a popular financial strategy that allocates 50% of income to necessities, 30% to wants, and 20% to savings and debt repayment. While it can be a helpful tool for some, it's not a one-size-fits-all solution. Critics argue it doesn't account for individual financial goals or emergencies. Understanding its strengths and limitations is key to making it work for you.

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