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Monthly Budget Planner
50/30/20 Rule - Needs, Wants, and Savings
50/30/20 Rule: 50% to needs (rent, food, utilities), 30% to wants (dining, entertainment), 20% to savings and debt payoff.
Needs (50%)
Rent/Mortgage, Groceries, Utilities, Insurance, Minimum debt payments, Transportation
Wants (30%)
Dining out, Entertainment, Shopping, Subscriptions, Travel, Hobbies
Savings and Debt (20%)
Emergency fund, 401k, IRA, Extra debt payments, Investments