{"id":8181,"date":"2023-09-19T11:27:15","date_gmt":"2023-09-19T15:27:15","guid":{"rendered":"https:\/\/solofunds.com\/?p=8181"},"modified":"2024-05-20T15:31:33","modified_gmt":"2024-05-20T19:31:33","slug":"get-money-with-solo-using-the-50-30-20-budgeting-method","status":"publish","type":"post","link":"https:\/\/solofunds.com\/blog\/get-money-with-solo-using-the-50-30-20-budgeting-method\/","title":{"rendered":"Get Money with SoLo: Using the 50\/30\/20 Budgeting Method"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">Anyone who relies on a paycheck knows that budgeting is crucial. Inflation and the looming student loan repayments mean we need to know exactly how much money we have and where it\u2019s going. <\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\">Our fave \u2013 the <\/span><a href=\"https:\/\/docs.google.com\/spreadsheets\/d\/1jwQ1qOAJNBTUz2tDQIXFHdCaqw2HPgs52DJC-GJ0XzU\/edit?usp=sharing\"><span style=\"font-weight: 400;\">50\/30\/20 budgeting method<\/span><\/a><span style=\"font-weight: 400;\"> \u2013 is a simple yet effective approach to taking charge of your money matters. Whether you\u2019re a seasoned budgeter or just dipping your toes into financial planning, this method offers a clear way to track your funds and achieve your goals. <\/span><span style=\"font-weight: 400;\"><\/p>\n<p><\/span><\/p>\n<p><span style=\"font-weight: 400;\">Here\u2019s how to get started:<\/span><\/p>\n<p>&nbsp;<\/p>\n<h4><b>Step 1: Download and Make a Copy<\/b><\/h4>\n<p>&nbsp;<br \/>\n<img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-8182\" src=\"https:\/\/solofunds.com\/wp-content\/uploads\/2023\/09\/Screenshot-2023-09-19-at-10.48.03-AM.png\" alt=\"How to make a copy of our 50\/30\/20 budgeting template.\" width=\"292\" height=\"186\" srcset=\"https:\/\/solofunds.com\/wp-content\/uploads\/2023\/09\/Screenshot-2023-09-19-at-10.48.03-AM.png 752w, https:\/\/solofunds.com\/wp-content\/uploads\/2023\/09\/Screenshot-2023-09-19-at-10.48.03-AM-450x287.png 450w, https:\/\/solofunds.com\/wp-content\/uploads\/2023\/09\/Screenshot-2023-09-19-at-10.48.03-AM-1x1.png 1w\" sizes=\"auto, (max-width: 292px) 100vw, 292px\" \/><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><a href=\"https:\/\/docs.google.com\/spreadsheets\/d\/1jwQ1qOAJNBTUz2tDQIXFHdCaqw2HPgs52DJC-GJ0XzU\/edit?usp=sharing\"><span style=\"font-weight: 400;\">Download our Budget Template (link)<\/span><\/a><span style=\"font-weight: 400;\">.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Once the template opens, click &#8220;File&#8221; in the top-left corner.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Select &#8220;Make a Copy&#8221; from the dropdown menu.\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Rename the copy to personalize it \u2013 something like &#8220;My 50\/30\/20 Budget.&#8221;<\/span><\/li>\n<\/ul>\n<h4><b>Step 2: Add Your Income<\/b><\/h4>\n<p>&nbsp;<br \/>\n<img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-8183\" src=\"https:\/\/solofunds.com\/wp-content\/uploads\/2023\/09\/Screenshot-2023-09-19-at-10.50.40-AM.png\" alt=\"Add your income into our monthly budgeting template to automatically have your spending calculated with the 50\/30\/20 budgeting method. \" width=\"363\" height=\"147\" srcset=\"https:\/\/solofunds.com\/wp-content\/uploads\/2023\/09\/Screenshot-2023-09-19-at-10.50.40-AM.png 1186w, https:\/\/solofunds.com\/wp-content\/uploads\/2023\/09\/Screenshot-2023-09-19-at-10.50.40-AM-450x182.png 450w, https:\/\/solofunds.com\/wp-content\/uploads\/2023\/09\/Screenshot-2023-09-19-at-10.50.40-AM-1x1.png 1w\" sizes=\"auto, (max-width: 363px) 100vw, 363px\" \/><\/p>\n<ul>\n<li aria-level=\"1\"><span style=\"font-weight: 400;\">In the Income section, you\u2019ll find rows to input multiple income streams.<\/span><\/li>\n<li aria-level=\"1\"><span style=\"font-weight: 400;\">Notice each section\u2019s &#8220;Projected&#8221; and &#8220;Actual&#8221; tabs. In the &#8220;Projected&#8221; tab, you can estimate your income\/expenses for the month. Update the &#8220;Actual&#8221; tab with the real figures as the month progresses. This helps you track how closely your estimates match reality.<\/span><\/li>\n<\/ul>\n<p><b>Note: <\/b><span style=\"font-weight: 400;\">You don&#8217;t need to worry about crunching the numbers yourself. The magic of our template lies in its automated calculations. It&#8217;ll calculate the differences between the projected and actual columns, letting you know exactly how much you have made\/spent for your needs, wants, and savings\/debts.<\/span><\/p>\n<h4><b>Step 3: Add Your Expenses<\/b><\/h4>\n<p>&nbsp;<br \/>\n<img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-8185\" src=\"https:\/\/solofunds.com\/wp-content\/uploads\/2023\/09\/Screenshot-2023-09-19-at-11.09.48-AM.png\" alt=\"Add in your expenses into our budget tracker and watch it automatically calculate your monthly spending.\" width=\"354\" height=\"220\" srcset=\"https:\/\/solofunds.com\/wp-content\/uploads\/2023\/09\/Screenshot-2023-09-19-at-11.09.48-AM.png 786w, https:\/\/solofunds.com\/wp-content\/uploads\/2023\/09\/Screenshot-2023-09-19-at-11.09.48-AM-450x280.png 450w, https:\/\/solofunds.com\/wp-content\/uploads\/2023\/09\/Screenshot-2023-09-19-at-11.09.48-AM-1x1.png 1w\" sizes=\"auto, (max-width: 354px) 100vw, 354px\" \/><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Add your expenses to their respective sections (needs, wants, savings\/debts).\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Have an expense that doesn\u2019t fit into the predefined categories? Use \u201cOther\u201d.<\/span><\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<p><b>Note: <\/b><span style=\"font-weight: 400;\">As you populate the expenses, keep an eye on the budget summary at the top of the template. This section instantly calculates and displays how much of your budget you&#8217;ve allocated.<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\">This template takes the guesswork out of managing your finances, ensuring you&#8217;re always on top of your financial health. As you proceed through the month, remember to regularly update your income and expenses in the template to get the most accurate picture of your financial progress.<\/span><\/p>\n<h3><b>Why Persistence Pays Off in Budgeting<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">Starting the budgeting journey can sometimes feel like taming a wild beast, but don&#8217;t let initial challenges discourage you. Budgeting is a tool that empowers you to take control of your financial destiny. The 50\/30\/20 method is designed to simplify this process, guiding you toward financial success without making it overly complex.<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\">The path to financial stability is a marathon, not a sprint. Every dollar you allocate, every expense you track, and every goal you set brings you closer to the future you envision.\u00a0<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><b><i>Ready to Achieve Your Money Goals? <\/i><\/b><span style=\"font-weight: 400;\">Download our <\/span><a href=\"https:\/\/docs.google.com\/spreadsheets\/d\/1jwQ1qOAJNBTUz2tDQIXFHdCaqw2HPgs52DJC-GJ0XzU\/edit?usp=sharing\"><span style=\"font-weight: 400;\">50\/30\/20 budgeting template<\/span><\/a><span style=\"font-weight: 400;\"> now and pave your way to financial freedom.<\/span><\/p>\n<style>\n        \/* Style for the button *\/\n        .download-button {\n            background-color: #F5873A; \/* Button background color *\/\n            color: #FFFFFF; \/* Button text color *\/\n            border: none;\n            border-radius: 4px; \/* Rounded corners *\/\n            padding: 10px 20px; \/* Padding for the button *\/\n            font-family: Helvetica, Arial, sans-serif; \/* Font family *\/\n            font-weight: bold; \/* Bold text *\/\n            text-decoration: none; \/* Remove underline from the link *\/\n            cursor: pointer;\n        }\n    <\/style>\n<p><\/head><br \/>\n<body><br \/>\n    <a href=\"https:\/\/docs.google.com\/spreadsheets\/d\/1jwQ1qOAJNBTUz2tDQIXFHdCaqw2HPgs52DJC-GJ0XzU\/edit#gid=0\" target=\"_blank\" class=\"download-button\" rel=\"noopener\">Download Budget Template<\/a><br \/>\n<\/body><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Anyone who relies on a paycheck knows that budgeting is crucial. Inflation and the looming student loan repayments mean we need to know exactly how much money we have and where it\u2019s going. Our fave \u2013 the 50\/30\/20 budgeting method \u2013 is a simple yet effective approach to taking charge of your money matters. Whether [&hellip;]<\/p>\n","protected":false},"author":8,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"class_list":["post-8181","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"acf":[],"_links":{"self":[{"href":"https:\/\/solofunds.com\/wp-json\/wp\/v2\/posts\/8181","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/solofunds.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/solofunds.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/solofunds.com\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/solofunds.com\/wp-json\/wp\/v2\/comments?post=8181"}],"version-history":[{"count":5,"href":"https:\/\/solofunds.com\/wp-json\/wp\/v2\/posts\/8181\/revisions"}],"predecessor-version":[{"id":8190,"href":"https:\/\/solofunds.com\/wp-json\/wp\/v2\/posts\/8181\/revisions\/8190"}],"wp:attachment":[{"href":"https:\/\/solofunds.com\/wp-json\/wp\/v2\/media?parent=8181"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/solofunds.com\/wp-json\/wp\/v2\/categories?post=8181"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}