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1 answer:

6 0

The 50 - 20 - 30 provides a simple and straightforward percentage based method for saving and budgeting expenses. Hence, making it easy to be replicated by newbies.

The 50 - 20 - 30 budgeting structure allots :

50% of take home pay for Mandatory expenses
20% for saving, investment and debt repayment.
30% for discretionary requirements.

The risk associated with the 20% recommendation include :

The three categories are exhaustive and most people will struggle to allot tangible amount to each category.
Low income earners will struggle to fulfill more than one of category.
The amount saved towards retirement or saving will be very small.

Therefore, the 50-20-30 budgeting strategy is simple, however, income earned plays a huge role in the structure being realistic.

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