How can you bring your fixed expenses below 50% of your take-home income? The answer lies in part in differentiating between Needs and Wants. Knowing what you absolutely need versus things that you would prefer to have, or things that you want, is essential to...
Now it’s time to take a look at your current fixed expenses. These are the types of expenses you cannot cut back on immediately if you run into financial problems. Use this worksheet of monthly fixed expenses to tabulate the amounts you spend on each...
You can view the entire 50-30-20 MoneyPlan series as one document here. Why Everyone Needs a 50-30-20 MoneyPlan: Americans Spending Too Much on Fixed Expenses In 1972, the average family had only one spouse working, but even with just that one paycheck, they only...
You can view the entire 50-30-20 MoneyPlan series as one document here. If I had to pick one thing as the single most important piece of advice in personal finance today, this would be it: The biggest source of financial distress, of being forced to turn to debt, of...
