50/30/20 rule hcol
Urban Finance Is Impossible Now (And We Have The Data)
In high-cost-of-living (HCOL) cities the classic 50/30/20 budgeting rule simply does not work - rent can eat the whole "needs" bucket before you even buy groceries. In 2024, a New York family needs nearly $300,000 per year to live comfortably, which translates to roughly $25,