Have you heard of the 5️⃣0️⃣/3️⃣0️⃣/2️⃣0️⃣ rule? This formula is a great one for people needing to budget their finances.

50% of your income would be for your needs (housing, other bills, groceries, transport, and healthcare).

30% would go towards your wants. Examples: Dining out, shopping, traveling, Netflix, or entertainment.

20% is for “the future you” (emergency fund, debt payment, retirement, and investing).