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\ninvesting in stocks\nthe categories method\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\ninvesting in stocks\nthe categories method\npay yourself first

Answer

Brief Explanations:

The 50 - 30 - 20 method suggests allocating 50% of income to needs, 30% to wants, and 20% to savings or debt repayment. Noah's $1000 for rent etc. is 50% of $2000, $650 for entertainment is close to 30% ($600 exactly would be 30%), and $350 for savings and debt is close to 20%.

Answer:

The 50-30-20 Method