A2M : $6.64
AFI : $6.77
AGL : $8.41
AIA : $6.78
ALD : $41.10
ALL : $60.20
ALQ : $20.94
ALX : $4.45
AMC : $59.88
AMP : $2.44
ANN : $41.17
ANZ : $37.39
APE : $19.61
ARG : $9.32
ASX : $54.66
AZJ : $3.73
BEN : $10.22
BHP : $60.79
BSL : $30.14
BXB : $18.58
CAR : $23.96
CBA : $154.06
CDA : $44.98
CGF : $10.21
CMM : $14.93
COH : $134.84
COL : $23.32
CPU : $39.59
CSL : $166.43
CWY : $2.58
DNL : $3.87
EDV : $3.07
EVN : $14.06
FMG : $16.79
FPH : $35.05
GGP : $10.69
GMD : $7.66
HUB : $70.79
HVN : $4.18
IAG : $8.09
IFT : $11.77
IGO : $7.54
JBH : $65.02
JHX : $38.90
LNW : $122.40
LYC : $14.40
MCY : $5.36
MEZ : $4.23
MIN : $59.49
MPL : $4.60
MQG : $246.14
NAB : $38.67
NEM : $174.44
NHC : $6.31
NST : $22.02
NWL : $19.11
NXT : $12.10
ORG : $11.58
ORI : $22.11
PDI : $4.69
PDN : $10.32
PLS : $4.50
PME : $163.93
PRU : $6.41
QAN : $9.05
QBE : $22.71
REA : $154.19
REH : $16.21
RHC : $53.43
RIO : $167.98
RMD : $30.43
RMS : $3.73
RRL : $7.69
S32 : $5.00
SDF : $5.72
SFR : $21.22
SGH : $37.83
SGM : $24.63
SHL : $19.02
SIG : $2.64
SOL : $43.71
STO : $8.61
SUN : $19.46
TLC : $4.85
TLS : $4.81
TLX : $15.57
TNE : $28.11
TPG : $3.85
VAU : $6.34
VEA : $3.02
WBC : $34.36
WDS : $32.94
WES : $72.98
WGX : $5.60
WHC : $8.55
WOR : $9.76
WOW : $38.60
WTC : $32.85
XRO : $66.90
YAL : $6.21

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