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Budgeting involves estimating financial activity over a specified future period of time. Budgets are usually established and re-evaluated on a periodic basis.| Investopedia
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The 50/30/20 budget rule is a simple and effective plan for personal money management and wealth creation. It balances paying for necessities with saving and investing.| Investopedia
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Lifestyle creep is when your standard of living rises alongside your discretionary income—and soon enough, former luxuries become new necessities. It happens slowly, without you really realizing it.| Investopedia
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An interest rate is the percentage of interest relative to the principal. It is either what lenders charge borrowers or what is earned from deposit accounts.| Investopedia