3 curated prompts for personal finance
Create a simple monthly budget plan based on the 50/30/20 rule for a net monthly income of [Amount]. Allocate 50% to Needs, 30% to Wants, and 20% to Savings/Debt Repayment. Provide examples for each category.
I have the following debts: [List debts with amount and interest rate]. Compare the Debt Snowball and Debt Avalanche methods for repayment. Outline the step-by-step plan for the method you recommend.
Explain the concept of '[complex financial term, e.g., compounding interest, ETF, Roth IRA]' to someone who has no financial background. Use simple analogies and real-world examples.