Everybody raves about the 50-30-20 rule but it made saving harder for me

I hit $15,000 in savings last month by ignoring that whole 30% wants category. I aimed for 15% wants and put the rest toward my emergency fund and it actually worked because I live in Austin where rent is insane.

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pat_perry3mo ago

Man, that 50-30-20 rule never worked for me either. It assumes you have enough leftover after fixed costs to even get to 20% for savings. I'm in Denver and my rent eats up way more than 50% of my take-home if I'm being honest. Cutting wants down to 15% is the only way I could make any real progress too, glad to hear someone else found a similar hack.

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shane_moore873mo ago

Felt that Denver rent, @pat_perry. I had to cut wants to 10% just to breathe.

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