What is the 4-30-10 method?

The 4-30-10 method is a budgeting technique that involves allocating a specific percentage of your income to different financial goals. The method recommends putting 40% of your income towards fixed expenses (such as rent, utilities, and insurance), 30% towards variable expenses (such as groceries, entertainment, and clothing), and 30% towards financial goals (such as savings, investments, and debt repayment).

This method can help individuals prioritize their spending and saving, ultimately leading to better financial stability and security. It also encourages individuals to live within their means and avoid overspending on non-essential items.