Question

multiple choice 1 point
the 50/30/20 rule suggests that you budget your money into___
○ 50% savings, 30% needs, 20% wants
○ 50% wants, 30% savings, 20% needs
○ 50% needs, 30% debt repayment, 20% savings
○ 50% needs, 30% wants, 20% savings

3
multiple choice 1 point
most savings strategies focus on these two actions:
○ spend less money and change where you do your banking
○ spend less money and make saving a higher priority in your budget
○ keep a tight budget and eliminate fun temporarily
○ earn more income and donate more to charity

Explanation:

1. For the 50/30/20 Rule, this is a standard budgeting framework where 50% of income goes to essential needs, 30% to non-essential wants, and 20% to savings/debt repayment.
2. For savings strategies, the core actions to increase savings are reducing spending and prioritizing savings in your budget.

Answer:

1. 50% needs, 30% wants, 20% savings
2. Spend less money and make saving a higher priority in your budget