This question is about american savings statistics.

What is the 50-30-20 budget rule?

By Zippia Team - Dec. 7, 2022

The 50-30-20 budget rule is a budgeting plan where 50% of your income is spent on needs, 30% on wants, and 20% goes into your savings. This plan would put you well above the pack when it comes to savings, as only 16% of Americans save more than 15% of their annual income.

For example, if you made $50,000 per year, this plan would allow you to save $10,000 in that same year.

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