A2M : $6.62
AFI : $7.24
AGL : $10.46
AIA : $6.82
ALD : $35.31
ALL : $47.03
ALQ : $13.87
ALU : $66.85
ALX : $5.37
AMC : $15.35
ANZ : $28.19
ARG : $8.75
ASX : $62.92
AWC : $1.72
AZJ : $3.74
BEN : $10.88
BHP : $45.84
BKW : $26.54
BLD : $5.76
BSL : $21.71
BXB : $14.14
CAR : $34.85
CBA : $121.51
CGF : $6.36
COH : $321.09
COL : $16.32
CPU : $26.34
CSL : $278.55
CSR : $8.91
CWY : $2.72
EBO : $31.95
EDV : $5.04
EVN : $4.08
FLT : $20.47
FMG : $27.29
FPH : $26.33
GQG : $2.48
HVN : $4.27
IAG : $6.37
IEL : $16.45
IFT : $10.30
IGO : $8.04
IPL : $2.99
JBH : $56.53
JHX : $54.72
LYC : $7.07
MCY : $5.97
MEZ : $5.52
MIN : $79.28
MPL : $3.63
MQG : $193.78
MTS : $3.86
NAB : $34.60
NEM : $66.44
NIC : $1.07
NST : $15.13
NWL : $20.24
NXT : $17.70
ORG : $9.94
ORI : $18.71
PDN : $17.42
PLS : $4.17
PME : $116.70
PMV : $29.68
QAN : $6.08
QBE : $17.71
QUB : $3.55
REA : $188.50
REH : $26.29
RHC : $49.75
RIO : $135.87
RMD : $32.41
RWC : $5.00
S32 : $3.89
SDF : $5.67
SEK : $23.03
SFR : $10.00
SHL : $26.62
SOL : $32.24
SPK : $3.86
SQ2 : $108.78
STO : $7.71
SUN : $16.31
SVW : $38.63
TLC : $5.19
TLS : $3.69
TLX : $15.32
TNE : $16.00
TPG : $4.67
TWE : $11.47
VEA : $3.44
WBC : $26.89
WDS : $28.07
WES : $68.14
WHC : $7.54
WOR : $15.01
WOW : $31.52
WTC : $97.50
XRO : $124.87
YAL : $6.10

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