Mooch in the News: BBC

Key Takeaways

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50/30/20 Rule

A budget structure where 50 percent of income is spent on needs, 30 percent on wants, and 20 percent on savings/paying off debt
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Balanced budget

A budget where spending does not exceed income
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Inflation

A general increase in the prices of goods and services in an economy

Mooch was featured in BBC My World! BBC's video covered how soaring global inflation is impacting lives, and they included a tutorial video from our @amoochlife TikTok on how to do a 50/30/20 budget. As prices continue to increase worldwide, BBC points out that budgeting tips have been trending online and uses Mooch's tutorial as an example of how to create a balanced budget using this simple rule.

Mooch's featured TikTok.

From the reporter's video:

"One budgeting tip that has been trending online is a 50/30/20 rule. The basic rule of thumb is to divide your monthly income into three spending categories: fifty percent for needs (these are things like bills), thirty percent for wants (things you enjoy), and twenty percent for savings or paying off debt.”

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