question 5 of 5 in the 50 - 30 - 20 rule, 50% of your income should be spent on _____________. select a…

question 5 of 5 in the 50 - 30 - 20 rule, 50% of your income should be spent on _____________. select a response. submit your response. wants debt needs savings

question 5 of 5 in the 50 - 30 - 20 rule, 50% of your income should be spent on _____________. select a response. submit your response. wants debt needs savings

Answer

Brief Explanations:

The 50 - 30 - 20 Rule is a popular budgeting guideline in finance. In this rule, 50% of income is allocated to needs, which are essential expenses like housing, utilities, and food. 30% is for wants, non - essential items like entertainment. 20% is for savings and debt repayment.

Answer:

C. Needs