Glossary
50/30/20 Budget Rule
Splitting income into needs, wants, and savings
The 50/30/20 rule is a simple budgeting principle that splits take-home income into 50% for needs, 30% for wants, and 20% for savings and debt repayment. It helps balance your money at a high level without a complex ledger. Adjust the ratios to your own situation and make them your personal benchmark.