AFI : $6.59
AGL : $8.66
AIA : $6.79
ALD : $33.93
ALL : $50.05
ALQ : $23.40
ALX : $4.91
AMC : $54.46
ANZ : $34.89
APE : $20.84
ARG : $8.89
ASX : $45.11
AZJ : $4.16
BEN : $10.23
BHP : $60.39
BSL : $31.34
BXB : $16.54
CAR : $24.39
CBA : $161.52
CDA : $41.09
CGF : $8.76
CMM : $13.61
COH : $97.41
COL : $21.62
CPU : $34.22
CSL : $97.92
CWY : $2.28
DNL : $3.76
DOW : $7.98
EDV : $2.87
EVN : $11.66
FMG : $21.75
FPH : $31.15
GGP : $12.79
GMD : $5.60
HUB : $83.27
HVN : $4.50
IAG : $7.57
IFT : $13.08
IGO : $9.22
JBH : $73.63
JHX : $31.20
LNW : $111.44
LTR : $2.32
LYC : $18.91
MCY : $5.72
MEZ : $4.80
MIN : $70.52
MPL : $4.82
MQG : $236.06
NAB : $37.10
NEM : $146.74
NHC : $5.76
NIC : $1.05
NST : $18.25
NWL : $21.30
NXT : $14.87
ORG : $10.85
ORI : $22.76
PDN : $11.24
PLS : $6.32
PME : $130.48
PRU : $4.88
QAN : $9.15
QBE : $22.45
QUB : $5.01
REA : $149.37
REH : $13.59
RHC : $37.23
RIO : $183.46
RMD : $29.03
RMS : $3.13
RRL : $5.87
S32 : $4.67
SDF : $4.08
SFR : $18.90
SGH : $41.54
SGM : $25.96
SHL : $18.81
SIG : $2.85
SOL : $42.61
STO : $7.85
SUN : $17.31
TLC : $5.38
TLS : $5.21
TLX : $13.11
TNE : $29.23
TPG : $3.95
VAU : $4.04
VNT : $6.18
WBC : $35.92
WDS : $30.73
WES : $78.32
WGX : $4.84
WHC : $8.76
WOR : $12.85
WOW : $35.00
WTC : $36.53
XRO : $74.83
YAL : $6.91

How to budget using the 50/30/20 method

This is a great strategy for anyone who wants an easy and structured budgeting method.

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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.

What’s even more important is to find a budget that matches your personality.

The 50/30/20 budget method is ideal for people who like tracking expenses and want to follow a guideline.

Although it’s called the 50/30/20 method, you can change the percentages so they work for you.

Here’s how it works:

Think of your money as going into three different buckets.

Bucket number one is for your needs. 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.

Bucket number two is for your wants. 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.

Finally, bucket number three is for your savings and also for paying down debt. 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.

So, 50% for your needs, 30% for your wants, and 20% for your savings. That’s the 50/30/20 budget.

Most importantly, feel free to personalise it! 50/30/20 is just a guide.

You can vary the percentages and create a plan that works with your income and your obligations.

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.

The bottom line

The 50/30/20 method is a solid strategy for you to organise your cash flow.

You make progress towards your goals with your savings, but also enjoy the journey with your wants.

 

 

 

 

Vanguard
October 2023
vanguard.com.au