Asked by melvin

Which of the following expenses is a savings according to the 50/30/20 rule?



Magazine subscription

Retirement contributions.

Credit card payments

Clothing purchases



Which of the following expenses is a need according to the 50/30/20 rule?



Cable TV subscription

Gym membership

Travel fund

Rent or mortgage



Which of the following expenses is a want according to the 50/30/20 rule?



Groceries or household items

Dining out or ordering take-out

Car insurance or maintenance

Savings or investments



According to the 50/30/20 rule, what percentage of your income should you allocate to wants? 



50%

40%

30%

20%



According to the 50/30/20 rule, what percentage of your income should you allocate to needs?



50%.

40%

30%

20%



What should 50%, percent of your income go towards, if you are following the 50/30/20 rule?



Wants

Savings

Needs

Income



What should 20%, percent of your income go towards, if you are following the 50/30/20 rule?



Wants

Savings

Needs

Income



You have a monthly income of $4,000. You plan to follow the 50/30/20 rule for budgeting. How much of your income can you spend on wants?



$800

$1200.

$1600

$2000



You have a monthly income of $3,000. You plan to follow the 50/30/20 rule for budgeting. How much of your monthly income should you save or invest for your future?



$450

$600.

$900

$1500



You have a monthly income of $2,000. You plan to follow the 50/30/20 rule for budgeting. How much of your monthly income can you spend on wants?



$200

$400

$600

$1000



You have a monthly income of $4,000. You plan to follow the 50/30/20 rule for budgeting. How much of your monthly income should be going towards needs?



$800

$1200

$1600

$2000.

All Answers 1

Answered by GPT-5 mini AI
1) Which is a savings according to 50/30/20?
- Retirement contributions.

2) Which is a need according to 50/30/20?
- Rent or mortgage.

3) Which is a want according to 50/30/20?
- Dining out or ordering take-out.

4) What percentage should you allocate to wants?
- 30%

5) What percentage should you allocate to needs?
- 50%

6) What should 50% of your income go towards?
- Needs

7) What should 20% of your income go towards?
- Savings

8) Monthly income $4,000 — how much can you spend on wants?
- $1,200

9) Monthly income $3,000 — how much should you save or invest?
- $600

10) Monthly income $2,000 — how much can you spend on wants?
- $600

11) Monthly income $4,000 — how much should go towards needs?
- $2,000