Ep 51 - Use The 50-30-20 Rule To Be Smarter/Successful With Your Money

<p>In this episode, we talk about the 50-30-20 Rule To Be Smarter/Successful With Your Money</p> <p>Help support us by joining our Patreon! (<a href='https://www.patreon.com/BrokeMillennialFinance'>https://www.patreon.com/BrokeMillennialFinance</a>)</p> <p>Check out our website for more content: (<a href='https://brokemillennialfinance.net'>https://brokemillennialfinance.net</a>) </p> <p>Subscribe To Our YouTube Channel: (<a href='https://www.youtube.com/c/brokemillennialfinance'>https://www.youtube.com/c/brokemillennialfinance</a>)</p> <p>Here are the referral links for you to join to get your free stocks:</p> <p>Webull: (<a href='https://act.webull.com/i/QNmo8WB8Yzc2/74x/'>https://act.webull.com/i/QNmo8WB8Yzc2/ufl/</a>)</p> <p>Robinhood: (<a href='https://join.robinhood.com/naveras-a23246'>https://join.robinhood.com/naveras-a23246</a>)</p> <p>Coinbase: (<a href='http://coinbase.com/join/khan_st?src=ios-link'>http://coinbase.com/join/khan_st?src=ios-link)</a></p> <p> </p> <p>Want to reach out to us? Email us at <a href='mailto:contact@brokemillennialfinance.net'>contact@brokemillennialfinance.net</a></p> <p> </p> <p>What is this rule and should you follow it?</p> <ul><li>50% of your paycheck should go toward things you need</li> </ul> <ul><li> <ul><li> <ul><li style="font-weight:400;">Rent/Mortgage </li> <li style="font-weight:400;">Food/Health/Utilities</li> <li style="font-weight:400;">Debt Payments (not including mortgage)</li> </ul> </li> </ul> </li> </ul> <ul><li>20% of your paycheck should go toward savings and investments</li> </ul> <ul><li> <ul><li> <ul><li style="font-weight:400;">Roth IRA / 401K</li> <li style="font-weight:400;">Emergency fund (6 months)</li> <li style="font-weight:400;">Stocks/Real estate</li> </ul> </li> </ul> </li> </ul> <ul><li>30% of your paycheck should go toward things you want</li> </ul> <ul><li> <ul><li style="font-weight:400;">Vacation/Travel</li> <li style="font-weight:400;">Entertainment (like movies, sports, etc)</li> <li style="font-weight:400;"