What we think

What Does a Realistic Budget Look Like?

by Peter J. Creedon

The 50/30/20 rule is a budgeting technique that divides your take-home income into three categories by percentages. It’s a simple way to track your spending. Split your budget into Needs which take up 50%, your wants which take up 30%, and lastly your savings or debt for 20%. Here are what goes into each category:


  • Rent or mortgage
  • Car payment
  • Utilities
  • Groceries


  • Streaming services
  • Shopping
  • Vacations

Savings or Debt:

  • Emergency fund
  • Retirement
  • Child’s education
  • Credit card payments