We get it, budgeting is hard — especially when you\u00a0want\u00a0to indulge in that extra latte or get that\u00a0blowout for your hot date.<\/p>\n
But if you truly consider these purchases to be nonnegotiable expenses, you’re probably a prime\u00a0contender for a savvy budgeting system called the 50\/30\/20 rule.<\/p>\n
This system\u00a0works because it takes into account all those “not necessary but still totally necessary” expenses. And instead of hiding from those shamefully hilarious budget\u00a0cheat days, this one rule asks you to mentally prepare for them and face them head on. Here\u2019s how to make the 50\/30\/20 rule work for your own life:<\/p>\n
Divvy up your spending and savings priorities into three categories: needs, wants, and savings:<\/p>\n
Needs.\u00a0<\/strong>For any given month, half of your earnings will go toward this category — the expenses you absolutely can\u2019t live without. Think: groceries, rent, gas,\u00a0car payments, etc.<\/p>\n Wants.\u00a0<\/b>The next 30% goes towards this category, which include nonessential expenses. Avocado toast, a blowout, that new makeup palette…you name it! Compared to traditional budgeting methods, 30% is actually a pretty high number for these sorts of expenses, which means you won\u2019t have to feel quite as guilty when you\u2019re on your fourth trip to Sephora in any given month.<\/p>\n Savings.\u00a0<\/strong>That leaves 20% for savings as well as anything you\u2019re working on paying off, but don\u2019t necessarily need to pay off within that specific month — like college loans.<\/p>\n Put all 3 together — 50\/30\/20, voila! — and you\u2019ve got yourself a recipe for savings success.<\/p>\n xx, The FabFitFun Team<\/p>\n","protected":false},"excerpt":"We get it, budgeting is hard -- especially when you\u00a0want\u00a0to indulge in that extra latte ...","author":1302382,"featured_media":97025,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[260],"tags":[],"thumbnail_url":"https:\/\/static.fabfitfun.com\/magazine\/wp-content\/uploads\/2017\/01\/17094927\/Screen-Shot-2017-01-17-at-9.50.58-AM-660x400.png","thumbnail_url_middle_card":"https:\/\/static.fabfitfun.com\/magazine\/wp-content\/uploads\/2017\/01\/17094927\/Screen-Shot-2017-01-17-at-9.50.58-AM.png","formated_date":"January 17, 2017","category_name":"Life","category_icon":"https:\/\/d3vodd1ws13xud.cloudfront.net\/magazine\/wp-content\/uploads\/2017\/10\/10113832\/entertainment.svg","author_name":"","trending":false,"sponsored":false,"random_color":"#36ed48","_links":{"self":[{"href":"https:\/\/fabfitfun.com\/magazine\/wp-json\/wp\/v2\/posts\/96715"}],"collection":[{"href":"https:\/\/fabfitfun.com\/magazine\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/fabfitfun.com\/magazine\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/fabfitfun.com\/magazine\/wp-json\/wp\/v2\/users\/1302382"}],"replies":[{"embeddable":true,"href":"https:\/\/fabfitfun.com\/magazine\/wp-json\/wp\/v2\/comments?post=96715"}],"version-history":[{"count":0,"href":"https:\/\/fabfitfun.com\/magazine\/wp-json\/wp\/v2\/posts\/96715\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/fabfitfun.com\/magazine\/wp-json\/wp\/v2\/media\/97025"}],"wp:attachment":[{"href":"https:\/\/fabfitfun.com\/magazine\/wp-json\/wp\/v2\/media?parent=96715"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/fabfitfun.com\/magazine\/wp-json\/wp\/v2\/categories?post=96715"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/fabfitfun.com\/magazine\/wp-json\/wp\/v2\/tags?post=96715"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}