If I have take-home pay of, say, $3,000 a month, how can I pay for housing, food, insurance, health care, debt repayment and fun without running out of money? Thats a lot to cover with a limited amount, and this is a zero-sum game.
The answer is to make a budget.
What is a budget? A budget is a plan for every dollar you have. Its not magic, but it represents more financial freedom and a life with much less stress. Heres how to set up and then manage your budget.
How to budget money
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Calculate your monthly income, pick a budgeting method and monitor your progress.
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Try the 50/30/20 rule as a simple budgeting framework.
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Allow up to 50% of your income for needs, including debt minimums.
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Leave 30% of your income for wan…
Read the full article at: https://www.nerdwallet.com/article/finance/how-to-budget