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50/30/20 Budgeting

50/30/20 Budgeting

Article • 15 min of learning
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Here's how 50/30/20 Budgeting aligns with curriculum standards in Mississippi. Use the filters to change the location, set of standards, and grade level.

Mississippi Personal Finance Standards (2022)

1: Personal Decision-Making

1.1: Define and explain individual wants and needs. DOK1

Standards
Defined by Personal Finance 9th-12th Grades and align with 50/30/20 Budgeting
b: Differentiate between wants and needs.

4: Budgeting

4.3: Discuss and create a budget. DOK3

Standards
Defined by Personal Finance 9th-12th Grades and align with 50/30/20 Budgeting
b: Identify various rules for budgeting to determine what percent of income is allocated to each type of expense.
c: Evaluate an example monthly statement/budget and identify income, fixed expenses, variable expenses, and so forth.
d: Create a monthly budget using a given scenario.