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Spending Part 3: Budget example using the 50-30-20 Rule

Marta’s Budget Plan

Marta is a 40-year old woman who works two jobs, one at a grocery store and another as a hostess at a restaurant. She is a single parent.

Marta’s Monthly Income $2,000

NeedsMonthly expenses
Rent$600
Groceries$200
Utilities$100
Car Expenses$200
Car insurance$120
Total$1,220

Disposable Income = Income – Needs: __________________________

WantsMonthly expenses
Coffee$20
Restaurants$50
Entertainment$40
Clothing$100
Total$210

Marta’s Monthly Savings Contribution $100

DebtsMonthly payment
Credit cards$200
Student loans$100
Total$300

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