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    Budget KH El

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    api-295310833
    The document outlines a 50/20/30 budgeting rule where 50% of monthly income goes to fixed expenses like rent and bills, 20% goes to financial goals like debt repayment and savings, and 30% is for flexible spending like food and entertainment. The author's monthly income is $967.50. Following the rule, they allocate $559.20 to fixed expenses, $774 to financial goals including $400 for student loans, and $580.50 for flexible spending including $250 for food.

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    Budget KH El

    Uploaded by

    api-295310833
    11 views2 pages
    The document outlines a 50/20/30 budgeting rule where 50% of monthly income goes to fixed expenses like rent and bills, 20% goes to financial goals like debt repayment and savings, and 30% is for flexible spending like food and entertainment. The author's monthly income is $967.50. Following the rule, they allocate $559.20 to fixed expenses, $774 to financial goals including $400 for student loans, and $580.50 for flexible spending including $250 for food.

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    The document outlines a 50/20/30 budgeting rule where 50% of monthly income goes to fixed expenses like rent and bills, 20% goes to financial goals like debt repayment and savings, and 30% is for flexible spending like food and entertainment. The author's monthly income is $967.50. Following the rule, they allocate $559.20 to fixed expenses, $774 to financial goals including $400 for student loans, and $580.50 for flexible spending including $250 for food.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as docx, pdf, or txt
    11 views2 pages

    Budget KH El

    Uploaded by

    api-295310833
    The document outlines a 50/20/30 budgeting rule where 50% of monthly income goes to fixed expenses like rent and bills, 20% goes to financial goals like debt repayment and savings, and 30% is for flexible spending like food and entertainment. The author's monthly income is $967.50. Following the rule, they allocate $559.20 to fixed expenses, $774 to financial goals including $400 for student loans, and $580.50 for flexible spending including $250 for food.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
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    Download as docx, pdf, or txt
    of 2

    Name: Elijah-Kaikea

    Date: 9/24/15

    Budgeting - the 50/20/30 rule


    From LearnVe$t
    Monthly income =

    $967.50

    Envelope 1 Fixed
    50%
    Bills, bills, bills.
    Monthly income X 0.50 = $1935 x 0.50 = $967.50
    Rent roommates = $675 / 2 = $337.50
    Car insurance =

    $115

    Bus pass = $0
    W/S/G roommates = $0
    Electricity: $62.14 roommates = $62.14 / 2 = $31.07
    TV: $55.76 roommates = $55.76 / 2 =$27.88
    Internet: $54.97 roommates = $54.97 / 2 = $27.49
    Cell phone =

    $68.48

    Netflix: $8.74 roommates = $8.74 / 2 = $4.37


    Gym =

    $15.89

    Total =

    $559.20

    Envelope 2 Financial Goals


    20%
    Pay off your debts,
    and save for your future.
    Monthly income X 0.20 = $3870 x 0.20 = 774
    Late credit card payments = $0
    Student loans = $400
    Savings =

    $0

    Emergency fund = $100


    Total = $500

    Envelope 3 Flexible Spending


    30%
    Make it rain.
    Monthly income X 0.30 = $1935 x 0.30 = $580.50
    Food = $250
    Gas =

    $0

    Clothes = $50
    Game stop $80
    gum $.50

    Total $

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