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This post is in partnership with Lexington Law, thank you for supporting brands who support TCM. As always, all thoughts, opinions, experience, and advice is my own. I like to use the 50/20/30 guideline as a general rule of thumb when teaching people how to budget since everyone’s financial situation is different. It keeps things simple – seriously it boils down to only three numbers you have to remember, versus a million of tiny categories! Plus, it makes it extremely clear where your finances are out of alignment and allows you to tweak accordingly. [RELATED] A Complete Guide To Your Emergency Fund [What, Why, How Much, + Where To Park It?] WTH does 50/20/30 stand for? Basically a super simple three number budget. 50% of your income goes towards “needs,” 20% goes towards “goals,” and 30% goes towards your “lifestyle.” Meaning you only have to remember three numbers versus how much you’ve allotted for smaller categories like “entertainment” or “meals out.” It keeps things easy and allows you to go with the flow throughout your day-to-day life. How To Apply The 50/20/30 Guideline: 1) Start by looking at your total income. For this example I’m going to use the millennial average […]