A2M : $6.97
AFI : $6.85
AGL : $9.01
AIA : $6.83
ALD : $38.75
ALL : $65.27
ALQ : $21.14
ALX : $3.73
AMC : $67.08
AMP : $2.36
ANN : $44.81
ANZ : $40.47
APE : $19.03
ARG : $9.30
ASX : $66.11
AZJ : $3.91
BEN : $10.64
BHP : $56.68
BOQ : $6.95
BRG : $30.86
BSL : $33.45
BXB : $21.46
CAR : $24.70
CBA : $165.24
CDA : $60.34
CGF : $12.07
CMM : $12.64
COH : $140.74
COL : $21.51
CPU : $42.73
CSL : $201.70
CWY : $3.00
DNL : $3.97
DOW : $7.19
EDV : $3.37
EVN : $11.61
FMG : $14.31
FPH : $36.70
GGP : $9.42
GMD : $6.38
HUB : $72.94
HVN : $4.11
IAG : $8.75
IFT : $9.92
JBH : $72.37
JHX : $38.90
LNW : $128.30
LYC : $12.11
MEZ : $4.31
MIN : $44.84
MPL : $5.07
MQG : $252.11
NAB : $41.05
NEM : $152.53
NHC : $5.91
NST : $24.10
NXT : $5.99
ORG : $12.23
ORI : $22.72
PLS : $2.62
PME : $192.89
PRU : $5.80
QAN : $8.80
QBE : $25.83
REA : $159.00
REH : $18.07
RHC : $55.92
RIO : $145.14
RMD : $33.33
RMS : $3.37
RRL : $6.17
S32 : $4.33
SDF : $5.81
SEK : $13.77
SFR : $19.81
SGH : $41.81
SHL : $19.54
SIG : $2.73
SOL : $45.34
STO : $9.14
SUN : $19.53
TLC : $5.45
TLS : $4.96
TLX : $13.12
TNE : $31.40
TPG : $3.91
TWE : $6.25
VAU : $5.35
VEA : $2.86
VNT : $5.83
WBC : $37.05
WDS : $33.23
WES : $76.98
WGX : $5.15
WHC : $7.70
WOR : $9.89
WOW : $39.47
WTC : $40.78
XRO : $61.56
YAL : $6.03

How to budget using the 50/30/20 method

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

.

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