6: The 50/30/20 Rule Explained | How To Manage Your Monthly Cash Flow

Financial Footprints

In this episode Kolin talks about the popular 50/30/20 rule when it comes to managing your monthly cash flow. Kolin shares the different categories and how to determine what falls into the 50% vs 30% vs 20% category for your monthly expenses. Kolin shares an example of how you can quickly start to manage your monthly cash flow by using the 50/30/20 rule. It is important to note that this is just a rule of thumb & is not an end all be all rule. It will change as your financial goals, income, family, etc. changes. However if you are just starting out, following this rule can be a great start.
Disclaimer: Financial Footprints is not intended to provide personalized financial advice. The information shared on this podcast is for general educational and entertainment purposes only. While we aim to share helpful tips and insights, every individual’s financial situation is unique, and what works for one person may not be right for another. Always do your own research and consult with a qualified financial professional before making any major financial decisions. We’re here to share ideas and spark conversations—but when it comes to your money, make sure you get advice tailored to your specific circumstances.