During our first meeting, we discussed all of my finances.

With all of this and more in mind, his recommendation of the 60/20/20 budget made perfect sense.

How Does the 60/20/20 Budget Work?

Budgeting illustration

Lets say your monthly take-home pay is $4,000.

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This is a rule-of-thumb guideline to start out with and visualize, Zanoni said.

Whether its 50/30 or 60/20, its really just splitting hairs in a lot of ways.

Did you know?

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Write down everymonthly expenseyou can think of and keep track of them in a spreadsheet.

Then look at how much youre spending through the lens of the 60/20/20 budget.

More often than not, most individuals are not aware of all of the things they spend money on.

That would shift the 60/20/20 budget to 60/25/15, and youd be saving more.

Budgeting is all about finding ways to set yourself up for financial freedom.

Starting now can really make a difference in the future.

Nicholas Verard Zanoni is an insurance agent of NM.

Probably not as good as youd like.

It always seems like an uphill battle to build (and keep) a decent amount in savings.

But what if your car breaks down, or you have a sudden medical bill?

Ask one of these companies to help…