READER QUESTION
Q I’ve heard people talking about the ‘50:30:20 budget’. What does this mean?
A The idea is that you spend 50% of your income on your ‘needs’, 30% on your ‘wants’ and 20% on savings, and that it helps you plan how much you spend and save. However, it assumes half your income is spare for your wants and savings, and that’s not achievable for a lot of people. When it comes to your cash, it’s important to look at
