Which money management strategy does Jasmine implement by categorizing her spending?

Jasmine's strategy of categorizing her spending aligns with the 50-30-20 Rule, which is a popular framework for budgeting and managing personal finances. This rule divides income into three main categories: needs, wants, and savings or debt repayment. Specifically, it suggests that 50% of one’s income should go towards essential needs such as housing and food, 30% towards wants like entertainment or dining out, and 20% towards savings or paying off debt.

By categorizing her spending, Jasmine is effectively identifying how much of her income is allocated towards each of these categories. This method not only helps in tracking expenses but also ensures that she is living within her means while also saving for the future. This structured approach makes it easier to adjust spending and savings habits as needed, ultimately leading to better financial health and stability.