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50/30/20 Budget

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Month:
Year:

STEP 1: Your After-Tax Income

Monthly Take-Home Pay: $
50%
NEEDS
$
30%
WANTS
$
20%
SAVINGS
$
50%

NEEDS

Essential expenses you must pay

Budget:
$____________
ExpenseBudgetedActual
Housing (Rent/Mortgage)$________$________
Utilities (Electric, Gas, Water)$________$________
Groceries$________$________
Transportation$________$________
Insurance (Health, Car, Home)$________$________
Minimum Debt Payments$________$________
Childcare$________$________
Other Needs:$________$________
Total Needs$________$________
30%

WANTS

Non-essential spending that improves life

Budget:
$____________
ExpenseBudgetedActual
Dining Out$________$________
Entertainment$________$________
Subscriptions (Streaming, etc.)$________$________
Shopping$________$________
Hobbies$________$________
Personal Care$________$________
Travel/Vacations$________$________
Other Wants:$________$________
Total Wants$________$________
20%

SAVINGS & DEBT

Building wealth and paying off debt

Budget:
$____________
CategoryBudgetedActual
Emergency Fund$________$________
Retirement (401k, IRA)$________$________
Extra Debt Payments$________$________
Sinking Funds$________$________
Investments$________$________
Other Savings:$________$________
Total Savings$________$________

MONTHLY CHECK

Income:$____________
Needs (Target 50%):________%
Total Spent:$____________
Wants (Target 30%):________%
Total Saved:$____________
Savings (Target 20%):________%
On Track?

Notes & Adjustments for Next Month:

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