![\"\"](\"https:\/\/acctweb.com.au\/images\/salary-sacrifice.jpg\")
<\/p>\nThis is a great strategy for anyone who wants an easy and structured budgeting method.<\/p>\n
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To achieve our financial goals, we need to know where our money is going. This is why having a budget is so important.<\/p>\n
What\u2019s even more important is to find a budget that matches your personality.<\/p>\n
The 50\/30\/20 budget method is ideal for people who like tracking expenses and want to follow a guideline.<\/p>\n
Although it\u2019s called the 50\/30\/20 method, you can change the percentages so they work for you.<\/p>\n
Think of your money as going into three different buckets.<\/p>\n
Bucket number one is for your needs.\u00a0<\/strong>50% of your take-home pay goes towards your essential expenses like housing, groceries, transportation, utilities and other general expenses. Try your best to keep your needs to around 50% of your budget.<\/p>\n Bucket number two is for your wants.\u00a0<\/strong>30% of your money should go towards travel, subscriptions, and discretionary things like dining out with your family and friends. Try to keep your wants to 30% of your budget.<\/p>\n Finally, bucket number three is for your savings and also for paying down debt<\/strong>. This remaining 20% of your money can go towards an emergency fund, investing for retirement, paying down loans, or really any other financial goals you may have.<\/p>\n So, 50% for your needs, 30% for your wants, and 20% for your savings. That\u2019s the 50\/30\/20 budget.<\/p>\n Most importantly, feel free to personalise it! 50\/30\/20 is just a guide.<\/p>\n You can vary the percentages and create a plan that works with your income and your obligations.<\/p>\n You might just be starting your savings journey … and 20% may seem unattainable. Or maybe you can save more than 20%, and that's also great. What matters is that it needs to work for you.<\/p>\n The 50\/30\/20 method is a solid strategy for you to organise your cash flow.<\/p>\n You make progress towards your goals with your savings, but also enjoy the journey with your wants.<\/p>\n \u00a0<\/p>\n \u00a0<\/p>\n \u00a0<\/p>\n \u00a0<\/p>\n Vanguard This is a great strategy for anyone who wants an easy and structured budgeting method.<\/p>\n","protected":false},"author":1,"featured_media":1704,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[4],"tags":[],"_links":{"self":[{"href":"https:\/\/actinvest.com.au\/index.php\/wp-json\/wp\/v2\/posts\/1703"}],"collection":[{"href":"https:\/\/actinvest.com.au\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/actinvest.com.au\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/actinvest.com.au\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/actinvest.com.au\/index.php\/wp-json\/wp\/v2\/comments?post=1703"}],"version-history":[{"count":1,"href":"https:\/\/actinvest.com.au\/index.php\/wp-json\/wp\/v2\/posts\/1703\/revisions"}],"predecessor-version":[{"id":1705,"href":"https:\/\/actinvest.com.au\/index.php\/wp-json\/wp\/v2\/posts\/1703\/revisions\/1705"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/actinvest.com.au\/index.php\/wp-json\/wp\/v2\/media\/1704"}],"wp:attachment":[{"href":"https:\/\/actinvest.com.au\/index.php\/wp-json\/wp\/v2\/media?parent=1703"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/actinvest.com.au\/index.php\/wp-json\/wp\/v2\/categories?post=1703"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/actinvest.com.au\/index.php\/wp-json\/wp\/v2\/tags?post=1703"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}The bottom line<\/h5>\n
\nOctober 2023
\nvanguard.com.au<\/p>\n","protected":false},"excerpt":{"rendered":"