AFI : $6.55
AGL : $8.50
AIA : $6.79
ALD : $33.47
ALL : $50.38
ALQ : $23.62
ALX : $5.02
AMC : $54.17
ANZ : $34.95
APE : $20.41
ARG : $8.91
ASX : $46.78
AZJ : $4.17
BEN : $10.35
BHP : $62.71
BSL : $31.46
BXB : $16.62
CAR : $25.85
CBA : $162.84
CDA : $42.43
CGF : $8.93
CMM : $14.18
COH : $100.30
COL : $21.49
CPU : $34.98
CSL : $95.01
CWY : $2.28
DNL : $3.70
DOW : $8.11
EDV : $2.85
EVN : $12.49
FMG : $22.55
FPH : $30.41
GGP : $13.97
GMD : $6.00
HUB : $85.38
HVN : $4.57
IAG : $7.65
IFT : $13.07
IGO : $9.74
JBH : $74.41
JHX : $32.40
LNW : $116.20
LTR : $2.50
LYC : $19.07
MEZ : $4.86
MIN : $74.12
MPL : $4.76
MQG : $238.56
NAB : $37.41
NEM : $151.51
NHC : $5.82
NIC : $1.06
NST : $18.69
NWL : $22.19
NXT : $15.68
ORG : $10.74
ORI : $22.57
PDN : $11.34
PLS : $6.67
PME : $144.96
PRU : $5.20
QAN : $9.33
QBE : $22.29
QUB : $5.00
REA : $150.36
REH : $13.77
RHC : $36.12
RIO : $188.21
RMD : $26.56
RMS : $3.27
RRL : $6.17
S32 : $4.77
SDF : $4.07
SEK : $12.36
SFR : $19.66
SGH : $41.01
SGM : $27.18
SHL : $19.02
SIG : $2.92
SOL : $42.47
STO : $7.79
SUN : $17.41
TLC : $5.32
TLS : $5.10
TLX : $13.32
TNE : $31.75
TPG : $3.90
VAU : $4.25
VNT : $6.33
WBC : $35.90
WDS : $30.54
WES : $79.48
WGX : $5.22
WHC : $8.74
WOR : $12.97
WOW : $34.75
WTC : $39.17
XRO : $81.94
YAL : $6.78

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