How do you allocate a budget?
Try the 50/30/20 rule as a simple budgeting framework. Allow up to 50% of your income for needs. Leave 30% of your income for wants. Commit 20% of your income to savings and debt repayment.
References
https://finmark.com/budget-allocation/
- Determine Your Total Spending Requirements.
- Identify Funding Methods
- Allocate Budget by Department
- Design a System For Monitoring Spend
- Budget Reallocation: Making Adjustments
- Allocate Your Budget More Efficiently
References
https://finmark.com/budget-allocation/
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