Question2 of 6 Jasmine just received her paycheck. To manage her money, she categorizes spending by needs, wants , and savings and debt What money management strategy Is Jasmine following? Select a response. the envelope method 50-30-20 rule managing money pay yourself first

## Step 1<br />The problem is asking us to identify the money management strategy that Jasmine is using. She is categorizing her spending into three categories: needs, wants, and savings and debt. <br /><br />## Step 2<br />The 50-30-20 rule is a money management strategy that divides spending into three categories: needs, wants, and savings and debt. <br /><br />### **The 50-30-20 rule:**<br />- 50% of your income should go to needs, which are expenses you must pay such as rent, utilities, and groceries.<br />- 30% of your income should go to wants, which are non-essential expenses such as dining out, entertainment, and vacations.<br />- 20% of your income should go to savings and debt, which includes saving for the future and paying off any debts.<br /><br />## Step 3<br />Comparing Jasmine's method of categorizing her spending with the 50-30-20 rule, we can see that they match. Therefore, Jasmine is following the 50-30-20 rule.