Budgeting Tips
The 50/30/20 rule is an easy way to manage your money by dividing your income into three simple categories:
50% Needs: This includes essential expenses like rent, bills, groceries, and insurance.
30% Wants: These are things you enjoy but don’t absolutely need, like eating out, entertainment, and shopping.
20% Savings & Debt Repayment: This goes towards building savings, retirement, or paying off any debt.
It’s a simple method that helps you prioritize your spending while making sure you’re saving and covering essential costs!
Zero-based budgeting is a method where every dollar of your income is given a specific job. You start with $0 left over at the end of the month.
Here’s how it works:
Step 1: Write down all your expenses (needs, wants, savings, debt payments).
Step 2: Assign each dollar of your income to one of those expenses.
Step 3: The goal is to make sure you allocate all your income until there’s nothing left.
The idea is to give every dollar a purpose, whether it’s for bills, savings, or debt. It helps you stay on track with your spending and savings goals!
How it works: When you want to make an impulse purchase, wait 30 days before buying it. If you still want it after a month, then consider purchasing it.
Why it works: It prevents impulse buying and helps you make more thoughtful, intentional purchases.
Debt Management
Snowball: Pay smallest debts first for motivation.
Avalanche: Pay highest interest debts first to save money.
See which one is right for you!
Debt CalculatorPay bills on time – Late payments hurt your score the most. Set up automatic payments if needed
Keep credit card balances low – Aim to use less than 30% of your credit limit to show responsible credit use.
Check your credit report – Look for errors and dispute mistakes. You can get a free report at AnnualCreditReport.com
Investing Basics
Compound interest grows your wealth over time.
Investing just $50/month can grow to over $10,000 in 12 years!.
note: outcome assumes a return rate of 6%
Index funds offer diversified, lower-risk investing compared to individual stocks.
They spread your risk and historically grow steadily over time
Compare your bank account’s interest rate with other High Yield Savings Accounts.
These accounts pay more interest, helping your money grow faster while staying safe and accessible.
As of 2025 the U.S. National Average interest rate is .41% while the average High Yield Savings Account can be over 4%.
A savings account with a balance of $5000 and an interest rate of .41% will generate just over $100 in 5 years without any additional contributions.
The same balance of $5000 in a High Yield Savings account with an interest rate of 4% will generate will generate over $1100 in the same amount of time!
The best money is free money. What are you waiting for?
note: 2025 current average interest rates according to FDIC
This content is for educational and informational purposes only and should not be considered financial or investment advice. Please consult a professional before making any financial decisions.