Cryptocurrency Q&A
Does 50/30/20 work in London?
Does 50/30/20 work in London?
Martino
Mon Feb 10 2025
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5
answers
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I'm wondering if the 50/30/20 budgeting rule, where 50% of income goes to needs, 30% to wants, and 20% to savings, would be effective in London. Considering the city's cost of living, can this approach still work?
5 answers
Margherita
Wed Feb 12 2025
London, for instance, is notorious for its high rental costs, which can make it difficult to allocate 50% of income towards necessities like housing.
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Michele
Wed Feb 12 2025
Achieving the 50-30-20 rule may be challenging, especially for those renting in pricey locations within the UK.
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Eleonora
Tue Feb 11 2025
Parents who are responsible for childcare expenses might also struggle to adhere to this budgeting strategy, as these costs can be significant.
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Caterina
Tue Feb 11 2025
Additionally, the overall cost of living in the UK can vary greatly, affecting one's ability to follow the 50-30-20 rule.
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Caterina
Tue Feb 11 2025
If you find that the 50-30-20 rule doesn't align with your financial situation, it's important to be flexible and adjust the percentages accordingly.
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