7. Fill in the blanks with the correct responses. If you follow the 50-3020 rule of b you'll be putting 50% of your monthly income toward __ 30% ofy income toward __ and 20% of your monthly income toward __ a. Needs, wants savings b. Savings, needs wants c. Needs, savings wants d. Wants, needs savings

The correct answer is a. Needs, wants, savings.<br /><br />According to the 50-30-20 rule of budgeting, you should allocate 50% of your monthly income toward needs, 30% toward wants, and 20% toward savings. Needs refer to essential expenses such as housing, food, and utilities. Wants refer to non-essential expenses such as entertainment and hobbies. Savings refer to the money set aside for future financial goals or emergencies.