How To Manage Your Money (50, 30, 20 Rule)

In this video I present a high level overview on how to manage your money using the 50, 30, 20 Rule. Money management is 90 discipline and 10 knowledge. The 50, 30, 20 rule will force you to create a budget and understand where every single one of your aftertax dollars is going. 50 of your budget should be spent on needs which are are things that are essential to life and that you literally cannot live without. 30 should be spent on wants which could be classified as things that bring you joy and happiness, but are NOT essential to living. (Dining out, entertainment, hobbies, etc. ) The final 20 should be spent on savings, paying off debt, and retirement planning. I feel like a lot of people confuse wants for needs, and we know the difference deep down, but we really want the one that we don t have the selfdiscipline to say no. WBF UNIVERSITY JOIN MY SCHOOL HERE EXCLUSIVE: Get 13 FREE Stocks valued up to 3500 On MooMoo whiteboa