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Screenshot outlining the "50-30-20" rule, stating that "the idea is you'd aim to spend ... 30% on wants: discretionary spending, such as eating out, shopping trips and subscriptions" - with "subscriptions" underlined and presumably a link. The 50% is "needs", like food, bills, rent, etc... The 20% is savings or debt, hah.

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Screenshot outlining the "50-30-20" rule, stating that "the idea is you'd aim to spend ... 30% on wants: discretionary spending, such as eating out, shopping trips and subscriptions" - with "subscriptions" underlined and presumably a link. The 50% is "needs", like food, bills, rent, etc... The 20% is savings or debt, hah.
https://assets.chaos.social/media_attachments/files/111/375/266/328/423/747/original/c2defdbbbcdda5ea.png

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Attie Grande (attie@chaos.social)'s status on Thursday, 09-Nov-2023 05:12:52 JST Attie Grande

Every time I accidentally see these, I read far enough to see things like "you should be spending 30% of your income on [wants]" and have an urge to flip the table over.
Is it just me, or is that absurdly out of touch?
https://www.hsbc.co.uk/financial-fitness/everyday-budgeting/spending-your-income/

In conversation about a year ago from chaos.social permalink