Question

question 2 of 6
jasmine just received her paycheck. to manage her money, she categorizes spending by needs, wants, and savings and debt. what money management strategy is jasmine following?
select a response.
○ the envelope method
○ 50-30-20 rule
○ managing money
○ pay yourself first

Explanation:

The 50 - 30 - 20 rule for money management suggests allocating 50% of income to needs, 30% to wants, and 20% to savings and debt. Jasmine categorizes her spending into these three categories (needs, wants, savings and debt), which aligns with the 50 - 30 - 20 rule. The envelope method involves using physical envelopes for different spending categories, “managing money” is a general term, and “pay yourself first” focuses on saving first before other expenses, which do not match Jasmine's approach here.

Answer:

B. 50 - 30 - 20 rule