What is the 50/30/20 budget rule?

The 50/30/20 rule: 50% of after-tax income on needs (rent, food, utilities, transport, insurance), 30% on wants (dining out, entertainment, subscriptions, clothing), and 20% on savings & debt repayment. It's a simple starting framework popularized by Senator Elizabeth Warren. Adjust percentages based on cost of living — in expensive cities, housing alone may exceed 30%.

How much should I save per month?

Financial experts recommend saving 15–20% of gross income for retirement (including employer match), plus 3–6 months of expenses in an emergency fund. If that's not possible, start with whatever you can — even 5% builds the habit. Automate savings so it happens before you can spend it.

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