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The 50/30/20 rule is a simple way to allocate your money and use it wisely. Following this rule can be helpful for someone who is just starting to learn how to manage their money. 

50% – Needs (Groceries, Housing, Etc)

30% – Wants (Hobbies, Shopping, Entertainment)

20% – Savings (For Financial Goals, Passive Income, Etc)

Want to learn how millionaires vs everyday people invest their money, check out How Millionaires Budget Here.

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