In this video, we talk about one of the personal finance rules of money management that even the wealthy will use. This is called the 60/30/10 rule and it's an updated version of the 50/30/20 because personally, I think the 50/30/20 rule is dead with most Americans dealing with higher costs of living. However, even though the rule has changed a little bit, I show you with math that we can still get to financial independence, and ultimately try to earn our way into the top 1% Car Affordability Video: Pro-rata Rule: FREE STOCKS: 🏆 Webull Deposit a Minimum of $500 and Get a Guaranteed $50 Free Stock: 🏆 Webull UK: 💸 SoFi Checking & Savings: Get up to % APY, pay no account fees and earn $250 when you sign up and set up direct deposit. Terms apply. 👾 Join our free Discord Community: RESOURCES: 💵 Free Templates: 🐪 Hump Days Newsletter ➭ ▶️ See What I Invest In ➭ 💳 My Favorite Credit Cards ➭ MY SOCIALS: Secret Channel -- @hug Instagram -- Twitter -- TikTok -- @humphreytalks Rickie (Editor) ➭ WHO AM I? Hello 👋 I’m Humphrey, I used to be a financial advisor, worked in gaming/tech, and started my own eCommerce business. I make practical, rational content on investing, personal finance, the news, and much more with a data-backed approach. My goal is to help you with financial literacy and creating wealth. PS: I am no longer a current Financial Advisor, any investment commentary are my opinions only. Some of the links in this description are affiliate links that I do receive a commission for & they help support the channel! ⏱️ Timestamps: 0:00 - Start Here 0:33 - The 50/30/20 Rule Is Outdated 2:51 - Introducing the 60/30/10 & Needs 5:35 - Wants 7:00 - Why 10% Is Still Sufficient 10:13 - Habits of the Wealthy