The zero-based budget is another popular budgeting strategy. On the Dashboard of this budget template, you can view the percentage breakdown of your average monthly spending by category to help follow the 50/30/20 rule. With this budgeting method, you target spending 50% of your after-tax income on needs, 30% on wants, and 20% on savings. The 50/30/20 budget is one of the most common percentage-based budgets. With a budget, you typically divide your income and expenses into categories, set a planned monthly amount for that category, and then measure your transactions over time to compare your actual finances against what you planned. The chart will update and show your monthly spending for that category over the course of the year.Ī budget is simply a plan for your personal income, spending, and savings over time.
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