13 Experts Weigh In on Elizabeth Warren’s 50/30/20 Spending Rule
Sen. Elizabeth Warren wants to make fixing the U.S. economy a priority if she becomes president, and she has a plan to do it. But long before she was running for president, Warren was a personal finance expert hoping to help the average American take control of their finances. She even co-authored two books on the subject. Her 2005 New York Times bestseller, “All Your Worth: The Ultimate Lifetime Money Plan,” includes her popular budgeting rule, the 50/30/20 budget. According to the 50/30/20 rule, 50% of your income should be dedicated to monthly expenses that are needed, such as housing, transportation and groceries; 30% can go toward wants or discretionary spending; and 20% should be dedicated to savings.