Investing while paying off debt
Utilize the 50/30/20 Budget
50/30/20 budget divides your take-home income into suggested spending in three categories: 50% of net pay for needs, 30% for wants and 20% for savings and debt repayment
For a more aggressive debt payoff budget you may want to use the 50/10/40 Budget dividing your take-home income into suggested spending in three categories: 50% of net pay for needs, 10% for wants and 40% for savings and debt repayment.
Brief Background on Host:
Ms. Black, the host of Staying in the Black, is a single mom, homeowner, and public-school educator in NYC. She owns two properties and is one mortgage away from being totally debt-free. She loves traveling the world with her family and has over $500,000 in her retirement accounts beyond her pension.
Learn more about Ms. Black: