Welcome back to another episode of the 360 Money Matter Podcast!
With the cost of living and interest rates skyrocketing, we need to strategically manage our cash flow and try to keep a lid on expenses. The 50/30/20 rule of thumb is a way to allocate your budget according to three categories: needs, wants, and financial goals.
It's not a hard-and-fast rule but rather a rough guideline to help you build a financially sound budget. To better understand how to apply the rule, how it works, and its limitations, tune in to this episode.
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This podcast contains information that is general in nature. It does not take into account the objectives, financial situation, or needs of any particular person. You need to consider your financial situation and needs before making any decisions based on this information. This information is provided by Billy Amiridis & Andrew Nicolaou of 360 Financial Strategists Pty Ltd, authorized representatives and credit representatives of AMP Financial Planning – AFSL 232706
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