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Transcript

Remember that you can calculate percentages by changing the percent to a decimal and multiplying by the take-home income.50% = 0.5030% = 0.3020% = 0.20 If your total take-home pay is $1,000, then 50% = 0.50*1000=$500

Another strategy that helps quantify and encourage savings is the 50/30/20 method for budgeting, where 20% of your take-home income should go to savings and debt repayment.Use the pie chart to learn more about the 50/30/20 budget strategy:

graph: how do people pay for stuff?

Study the graph to learn more about the different ways people pay for the things they buy.

graph: the 50-30-20 rule

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