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We recommend a simple budgeting rule that applies to most people which is the 50/30/20 budget. This means that 50% of your income is used for necessary expenses, 30% for flexible spending and the remaining 20% for financal goals which includes things like savings, debt payments and investing.
We built this simple tool to help you estimate your budget. With your salary and state of residence we can show you your estimated after tax income and how much you can spend in each section of your budget.