Budgeting

Budgeting doesn’t have to be complicated — the 50/30/20 rule is one of the simplest and most effective ways to manage your money. It’s perfect for beginners, students, or anyone who wants to stop living paycheck to paycheck.

🧠 What Is the 50/30/20 Budget Rule?

It’s a budgeting method that divides your monthly after-tax income into three clear categories:

50% Needs – Rent, groceries, utilities, car payments, insurance

30% Wants – Eating out, entertainment, travel, shopping

20% Savings & Debt Repayment – Emergency fund, student loans, credit card debt, retirement savings

Example: If you take home $2,000/month:

$1,000 goes to needs

$600 goes to wants

$400 goes to savings or deb

✅ Why It Works

Simple: No spreadsheets needed

Flexible: Adjusts as your income changes

Realistic: You don’t have to give up all your fun spending

🔥 Pro Tips

Use auto-transfer to move 20% to savings on payday

Track spending with apps like Rocket Money or Goodbudget

Review and adjust monthly — your priorities will shift

The 50/30/20 rule is a great starting point that creates financial structure without micromanaging every dollar.