I’m Stressed About Money — But I Can’t Stop Spending It

The 50/30/20 rule is a general benchmark for determining whether or not you’re spending too much. According to this rule, 50% of your spending should be for your necessities in the bills and life category, like rent, food, transportation, health care, utilities, and student loan payments. 30% of your spending is allocated to your wants in the fun and BS category. This is non-essential spending, like online shopping, but it’s fun, which makes it feel like life. Lastly, the remaining 20% would go towards your savings and investments for your future and goals.