are you a salaried person then you need to hear this before it's too late what is 50 30/20 Rule and why you need the 50320 rule in your life it's the secret to stress-free budgeting introducing the 50320 rule it's super simple and totally life-changing here's how it works first take your total income got it now split it into three parts 50% goes to your needs these are musthaves like rent groceries and utilities you know the essentials next 30% is for your wants this is your fun money for dining out hobbies and entertainment think of it as your guilt-free spending finally 20% is for savings and debt repayment this is your safety net and future planning it's like taking care of future you by following the 503020 rule you keep your finances balanced and budgeting becomes a breeze daily tip use the 503020 rule for budgeting allocate 50% of your income to needs 30% to wants and 20% to savings and debt repayment follow us for more easy to apply Financial tips and tag someone who needs a budget makeover