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Question
The 30% in the rule of budgeting represents which of the following options?
The 30% in the rule of budgeting represents which of the following options?
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Solution
The correct option is B Wants
The 50-30-20 rule of budgeting is a popular method used by all.
According to this rule, 50% of the income should be used for necessary requirements like food, clothing, and shelter. 30% should be used for wants like an occasional travel trip or a dinner at your favourite restaurant. The remaining 20% should be saved and kept for emergencies.
The 50-30-20 rule of budgeting is a popular method used by all.
According to this rule, 50% of the income should be used for necessary requirements like food, clothing, and shelter. 30% should be used for wants like an occasional travel trip or a dinner at your favourite restaurant. The remaining 20% should be saved and kept for emergencies.
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