What is the 50/30/30 rule?

Alright, let’s talk finances and budgeting, baby! The 50/30/20 Budget Rule is your ticket to money management success. Here’s the scoop:

50% of your monthly cash flow goes towards necessities, like rent or mortgage payments, food, transportation, and insurance. These are the must-haves to keep your life rollin’.

30% is your play money! Dining out, shopping, entertainment – this chunk is for the things you love to do. Live a little!

And the final 20% is for savings and paying off debt. This is the key to financial freedom, especially when it comes to owning a home. You need a cushion for unexpected expenses, and you want to make sure you’re paying off debt and securing your future.

Buying a home is a big deal, and your mortgage payment will likely be your largest monthly expense. That’s why it’s so important to think about your budget and make sure you’re not overcommitting. If a home takes up more than 50% of your monthly income, it may be time to re-think and look for a smaller place or consider a different neighborhood.

The 50/30/20 Budget Rule is a great starting point, but make sure to tailor it to your situation. It’s all about making smart financial decisions and owning your money, your budget, and your future.


Alex E. Edwards, self-made real estate mogul and founder of Thumbprint Realty, has helped thousands of people leverage and transform their lives and relationships, break generational patterns of poverty and abuse, and make better choices for their future through strategic real estate investments.

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Whether you're single or dating, secure your financial future before saying, "I do."

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