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Create a Budget Plan in 2 minutes! Try this simple budgeting plan to help keep your finances in order: Welcome to the 50/30/20 BUDGET PLAN. In this plan, you use no more than 50% of all after-tax dollars for your needs such as housing, a car and other mandatory bills. Remember the 50% should be calculated with after-tax money and be used only for real necessities. Next, spend no more than 30% on your wants. For example travel, entertainment, new clothes and items/experiences you don't need to survive. Finally, SAVE!!! At least 20% of all after-tax Dollars should be put away for retirement and other forms of savings. * If any debt exists, especially credit cards or Merchant Cash Advance debt, pay it off or settle it first. Ask yourself when spending "Is this a need or a want?" Over the long term, someone who follows the 50/30/20 Plan, should have manageable debt, some room to relax and even the necessary funds to indulge a little, all while saving for retirement. GOOD LUCK!