Budgeting

[emilyvg]

Has anyone used the 50-20-30 budgeting method and how has it worked for you?

I’ve never heard of it. Do tell more :)

www.thebalance.com/the-50-30-20-rule-of-thumb-453922

Thank you! Just had a look. If nothing else, at least this approach can help you appreciate how much you blow on 'wants'. But it also could be a good way to get going for someone who isn't used to budgeting, saving/investing.

It wouldn’t work for us as it would’ve impossible to get the needs element under 50% due to high mortgage and childcare, especially if I include gas, elec, water, council tax, car, travel, food as needs