the 50-30-20 rule recommends spending how much of a budget on needs, wants, and savings/debt?

The 50-30-20 rule recommends spending 50% of your after-tax income on needs, 30% on wants, and 20% on savings. This budgeting rule helps manage money by allocating half of the budget to essential needs like rent, groceries, and utilities; 30% to discretionary wants; and 20% to savings and debt repayment.