I finally got my budget to work after a chat at a coffee shop in Denver

I was at a place called Queen City Coffee last month, just trying to plan my spending for the next quarter. A guy at the next table saw my spreadsheet and asked if I used the 50/30/20 rule. I told him I'd never even heard of it! He explained it's 50% for needs, 30% for wants, and 20% for savings or debt. I tried it that night with my own numbers, and for the first time, my plan didn't feel impossible. Has anyone else switched to this method and found it easier to stick with?

4 comments

4 Comments

avery_ross1mo ago

Automating the savings part was key for me.

the_thea2mo ago

Wait, @paige331 lived on 80% for THREE MONTHS?

lindag332mo ago

Try the 20% savings first before you spend the other 80.

-1

paige3312mo ago

My wife and I did exactly that, lindag33. We forced ourselves to live on 80% of our take home pay for a full three months. It felt tight at first, but we adjusted our grocery shopping and cut some streaming services. By the end, we realized we didn't miss that extra 20% at all. It proved we could save it without hurting our lifestyle. Now that 20% goes straight to savings automatically every payday.