Cryptocurrency Q&A
How to work out 50/30/20 rule in the UK?
How to work out 50/30/20 rule in the UK?
CryptoAlchemist
Sun Feb 09 2025
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7
answers
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I'm trying to understand and apply the 50/30/20 budgeting rule in the context of the UK. Could someone explain how this rule works and how I can adapt it to my financial situation in the UK?
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7 answers
Lucia
Tue Feb 11 2025
Ideally, you should spend around 50% of your income on essential items such as rent, groceries, and utilities.
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Caterina
Tue Feb 11 2025
Another 30% should be dedicated to your wants, which may include entertainment, dining out, and shopping.
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mia_rose_painter
Tue Feb 11 2025
By doing so, you will ideally have 20% of your income left over for savings.
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Carlo
Tue Feb 11 2025
Managing your finances effectively is crucial to achieving financial stability.
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Michele
Tue Feb 11 2025
For instance, if your monthly income is £1,800, you should aim to save £360 each month.
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