In this episode, we dive into what happens when your needs consume more than 50% of your income and how it can strain your budget. We'll explore smart spending strategies like zero-based budgeting and the 50/30/20 rule to help you balance essentials while still saving for the future. Tune in to learn how to navigate this common financial challenge and come out on top!

In this episode of "Freshman in Finance" we explore practical budgeting strategies that go beyond the 50/30/20 rule, especially when your needs exceed 50% of your income. Learn the 7 simple steps to create an effective budget: setting realistic goals, identifying income and expenses, separating needs and wants, designing your budget, putting your plan into action, managing seasonal expenses, and planning ahead. Tune in for tips to take control of your finances and achieve financial freedom!

Welcome to the Freshman in Finance Podcast