A simple budget framework that divides your after-tax income into three categories: 50% for needs, 30% for wants, and 20% for savings.
Rent, utilities, groceries, transportation, minimum debt payments, insurance
Dining out, entertainment, shopping, travel, hobbies, subscriptions
Emergency fund, retirement, investments, extra debt payments, future goals
Note: This is a general guideline. Adjust percentages as needed for your specific situation. High cost-of-living areas might require spending more on needs.
DISCLAIMER: This 50/30/20 budget visualization is provided for educational and informational purposes only. It is not intended to replace professional financial advice. The percentages suggested may need adjustment based on your personal circumstances, including income level, geographic location, debt obligations, and financial goals.