Bank Better, Live Better
This budgeting tool works on the 50—30—20 ratio
The 50-30-20 ratio gives you a good idea of how you should approach splitting your budget based on your household income and whether you have any children.
50%: Essential expenses
30%: Financial priorities
20%: Lifestyle choices
By using the tool, you will be able to explore these categories in more detail and make some decisions about your financial priorities. It's a great way to start getting serious about your budget.
9 ways to reduce your essential expenses
We often think of budgeting as an exercise in cutting out all of the things we want. But what about focusing on getting what you need for less, so that you can save more towards the things you really want?