Many people need help managing their expenses. We recommend using the 50/30/20 method introduced by U.S. Sen. Elizabeth Warren, where spending is divided into three categories:
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50% allocated to Needs(e.g., groceries, health care, mortgage/rent)
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30% allocated to Wants (e.g., entertainment, shopping, travel)
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20% allocated to Savings or paying off debt (e.g., student loans, credit card debt, retirement)
This method works because it prevents overspending while allowing one to enjoy life and prepare for future expenses. However, managing your finances is only efficient once it is all mapped out. Therefore, Avant Tax provides many types of planning for more significant savings