Question 2 of 5 In the 50-30-20 budgeting method, saving for emergency expenses would fall under which category? square 50 30 None; it's part of pay yourself first

In the $50-30-20$ budgeting method, saving for emergency expenses would fall under the category of "None; it's part of pay yourself first."<br /><br />The $50-30-20$ budgeting method divides your after-tax income into three categories:<br /><br />1. Needs (50%): This includes essential expenses such as rent, utilities, groceries, and transportation.<br />2. Wants (30%): This includes discretionary spending such as dining out, entertainment, and hobbies.<br />3. Savings and Debt Repayment (20%): This includes savings for retirement, emergency funds, and debt repayment.<br /><br />In this method, saving for emergency expenses is considered a priority and is typically treated as part of the "pay yourself first" principle. This means that you allocate a portion of your income to savings and debt repayment before spending on needs and wants. Therefore, saving for emergency expenses would not be categorized under the 50%, 30%, or 20% categories but rather as part of the overall strategy of prioritizing savings.