In this episode of "Freshman in Finance" we explore practical budgeting strategies that go beyond the 50/30/20 rule, especially when your needs exceed 50% of your income. Learn the 7 simple steps to create an effective budget: setting realistic goals, identifying income and expenses, separating needs and wants, designing your budget, putting your plan into action, managing seasonal expenses, and planning ahead. Tune in for tips to take control of your finances and achieve financial freedom!