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Tried the 50/30/20 rule for 6 months in Austin, my rent ate everything
I split my take home pay into needs, wants, and savings back in February, but my $1,400 one bedroom left me with $40 for fun stuff each month. Ended up using a credit card for groceries twice and realized the percentages just don't work when your rent is half your income. Anybody else in a high cost city find a budgeting method that actually fits?
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grace_gonzalez4611d ago
You track every dollar down to the cent? The 50/30/20 thing broke me too. I switched to a "pay your fixed costs first" method. Rent, utilities, groceries, then whatever is left is my fun money.
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