The 50/30/20 rule describes how much a person should be budgeting for their needs, wants, and savings. Which of the following expenses is a need according to the 50/30/20 rule? Choose 1 answer: A travel fund B gym membership (B) C cable TV subscription D rent or mortgage

## Step 1: Understand the 50/30/20 rule### The rule is a budgeting guideline stating that 50% of income should go towards needs, 30% towards wants, and 20% towards savings.## Step 2: Categorize the expenses### Identify which category (needs, wants, or savings) each option falls into:- Travel fund is a want.- Gym membership is a want.- Cable TV subscription is a want.- Rent or mortgage is a need.