50 30 20 rule

What is a budget?

• A plan for spending and saving money

• A way to spend all your money quickly

• A list of things you want to buy

• A rule for shopping

What does the 50-30-20 rule help with?

• Spending all your money quickly

• Creating a balanced budget

• Avoiding all expenses

• Only spending on fun activities

What percentage of income should go to "Needs" in the 50-30-20 rule?

• 20%

• 30%

• 50%

• 70%

Which is an example of a "Need"?

• A new phone

• Monthly rent

• Concert tickets

• Video games

In the 50-30-20 rule, what does 30% of your income go to?

• Needs

• Wants

• Savings

• Debt

Which of the following is a "Want"?

• Rent

• Groceries

• Movie tickets

• Medical bills

If you earn RM 500, how much should you save using the 50-30-20 rule?

• RM50

• RM100

• RM200

• RM300

Why is saving 20% of your income important?

• To buy more expensive things

• To prepare for emergencies and future goals

• To increase spending on entertainment

• To avoid paying bills

If you earn RM 2,000 a month, how much should go into savings?

• RM200

• RM400

• RM600

• RM1000

Which category should you spend the least amount on?

• Needs

• Wants

• Savings

• None-spend equally on all