question 1 of 5\nevery month, noah takes home around $2,000. he uses $1,000 to cover his share of rent…

question 1 of 5\nevery month, noah takes home around $2,000. he uses $1,000 to cover his share of rent, utilities, transportation, and groceries. he uses around $650 on entertainment, eating out with friends, and other incidentals. the other $350, he divides between saving for emergencies and paying his student loans. what money management strategy is noah using?\nthe 50 - 30 - 20 method\nthe categories method\ninvesting in stocks\npay yourself first

question 1 of 5\nevery month, noah takes home around $2,000. he uses $1,000 to cover his share of rent, utilities, transportation, and groceries. he uses around $650 on entertainment, eating out with friends, and other incidentals. the other $350, he divides between saving for emergencies and paying his student loans. what money management strategy is noah using?\nthe 50 - 30 - 20 method\nthe categories method\ninvesting in stocks\npay yourself first

Answer

Brief Explanations:

The 50 - 30 - 20 method divides income into three parts. 50% for needs (like rent, utilities etc. which Noah spends $1000 out of $2000, 50% of $2000), 30% for wants (like entertainment which is $650 out of $2000, close to 30% of $2000), and 20% for savings and debt (the $350 for emergencies and student loans, close to 20% of $2000).

Answer:

The 50-30-20 Method