Dubai: When budgeting, once you have evaluated how much you spend every month on living expenses, rent, paying off debt and retirement savings, what do you do next? One rule designed to help you plan and manage your spending is the 50-30-20 rule – which is a popular rule for breaking down your budget, considered as ‘intuitive’ and ‘simple’ among many. What is the 50-30-20 rule? By the 50-30-20 rule, 50 per cent of your income is set apart for necessities, like housing and bills; 30 per cent for your routine wants, like dining or entertainment; and 20 per cent are allocated for financial goals, like paying off debt or saving for retirement.