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Budgets come in many shapes and sizes.
Don’t be discouraged if your numbers are tight at first. The more you track and keep tabs on your spending, the better you’ll get the most out of your money.
There are countless free or affordable tools out there if you prefer tech solutions, but the 50-30-20 rule can be a quick and easy option for keeping your finances in check.
And it’s quite simple: you divide your money between your needs, your wants and your savings, according to these ratios.
Here is a case study.
CNBC has calculated the numbers and we can give you an idea of what your budget should look like if you make $ 35,000 a year. Watch this video for a step-by-step guide to budgeting that will work for you.
More Investing in you:
What your FICO score means and why you need to be careful
Josh Brown: How I Explain the Stock Market in Relation to the Economy
How insurance premiums and deductibles work
TO VERIFY: I made $ 1,000 taking photos with this easy side activity through Grow with Acorns + CNBC.
Disclosure: NBCUniversal and Comcast Ventures are investors in Tassels.
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