How To Start Following The 50/30/20 Rule To Eliminate Budgeting Stress

In this episode, one woman explains how following the 50/30/20 budget helped eliminate stress and streamline her financial life.

Through weekly video essays, "Making It Work" showcases how *real* people have upgraded their personal or financial lives in some meaningful way. Making your life work for you doesn't mean getting rich just for the sake of it. It means making the most of what you have to build a life you love, both in your present and in your future. And while managing money is a crucial life skill for everyone, there's no one "right way" to go about it — you have to figure out what works best for *you,* full stop.

Video by Grace Lee

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[m.m.schill]

Therapy should be in the necessity budget. Don't treat mental health like a luxury. If you had cancer, you wouldn't view chemo as a "special treat", it's needed.

[aniglo]

I would argue that therapy is a necessity, not leisure spending...

[matildebruneel]

I feel like with low wages and high rent, 50% on necessities can sound like a complete joke. I prefer applying the 50/30/20 rule to what's left of my wage after rent, because if I counted in rent, it would be more like 70/20/10

[LittleMissRockChalk]

Going to therapy is going to the doctor. If seeing your GP is not leisure, neither is seeing your therapist.

[swerdna]

I wish there were videos for people who have very limited incomes like disability, retirement, or a low-paying job with no benefits. The "just make more money" option isn't always available.

[kimsbits]

This video (and specifically, the idea of covering essentials with 50% of your pay) is so wildly out of touch with most people's reality, but at least this comment section is validating

[samb]

“If your living expenses exceed the 50%, simply make more money”
Wow, genius advice! I’m sure no one living in poverty has ever considered that.

[sophiarodriguez]

As someone who volunteers on a crisis hotline, I can attest that many of the callers could benefit greatly from having a dedicated therapist but cannot afford it. I don't know many people who are shelling out their money to a counselor/therapist for the "fun" of it. I don't think it's fair to categorize therapy or gym memberships as luxury items unless you're picking the most expensive option for either just because you feel like it.

[dominickromano]

Talking about investments, forex trading is the most profitable venture I ever invested in, I reached my goal of $120k monthly trade earnings. Wondering if viewers here are familiar with Bella trading strategy?

[fennwenn]

The thing that gets to me about this video though is that therapy is put in "leisure spending". I don't know about anyone else, but back when I was severely mentally ill, therapy was not something I would categorize as "leisure".

[soylalilalilalula]

Therapy is often an ultra-necessary spending, sometimes even more than rent...

[breeklauser]

Usually love this channel but this one is a little problematic most people including myself that I know are lucky if 75% of your paycheck can cover for necessary expenses. To say just get a better job or find a cheaper apartment is really saying some thing from appointed privilege

[mizztouchdown]

Laughs in I live in Washington where rent itself can be almost 50% of ones income (I’m lucky mine isn’t). Also, I love this page but we should start talking about the ableism and toxicity (think hustle culture) that comes with pushing side hustles. The problem is in so many places, rents are rising and wages are stagnant so you could easily find yourself paying the bulk of your 50% solely on rent. I like this idea, but for many, especially those with lower wages (even working 2 jobs), it’s not always possible to work exactly in these numbers and a second or 3rd job isn’t always feasible.

[kylefitzgerald]

Therapy (or spending in some way on mental health) and gym memberships (or spending in some way on physical health) should be in the necessity category.

[Amaika]

5 grand a month! What!? Dude I have a masters and still can't make that much! Most I've gotten is 3 grand and I felt pretty rich 😆 It's totally common where I live that couples barley make that much

[jenh]

Anyone making take home of 5k a month? Me neither...

[BallerineMimi]

After using the 50/30/20 rule for a while, I've adapted it to be: 40% rent, 15% bills and debt, 15% food and health (incl. takeaways and gym), 20% savings and the last 10% is everything else (which usually gets taken up by gifts)... Adapt percentages and categories to your own needs, is my best recommendation <3

[Hmm...Whats-Their-Name]

Honestly cant imagine making enough money that 50% is enough to pay for all my necessities. What a joke

[KateHistoryMysteries]

The GRE is not a want. If that is the graduate exam I think it is, it is an investment in your future.

[random]

Why does therapy not count as a necessity? It's part of your health, the way a doctor is, especially if you have some kind of mental illness.