A 50/30/20 budget on $3,000 a month
On $3,000 a month after tax: $1,500 for needs, $900 for wants, and $600 for savings and extra debt payments.
Sample needs ($1,500)
| Rent / housing share | $950 |
| Utilities & phone | $170 |
| Groceries | $250 |
| Transportation & insurance | $130 |
If rent alone is more than $1,500, a 50/30/20 split won't fit. Try 60/20/20 for now, and keep the 20% for savings and debt untouched.
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Not financial advice. These tools are for planning only. Numbers are illustrative; your lender's statements control.