Question

what you know
question 2 of 3
jasmine just received her paycheck. to manage her money, she categorizes spending by needs, wants, and savings and debt. what money management strategy is jasmine following?

• the envelope method
• 50-30-20 rule
• managing money
• pay yourself first

Explanation:

The 50-30-20 rule is a money management strategy that divides income into three categories: 50% for needs, 30% for wants, and 20% for savings/debt repayment, which matches Jasmine's approach. The envelope method uses physical envelopes for allocations, "managing money" is a general term not a specific strategy, and "pay yourself first" prioritizes savings before other expenses.

Answer:

50-30-20 rule