Applying the 50/30/20 rule would give you a budget of: 50% for mandatory expenses = $2,000 (0.50 X 4,000 = $2,000) 30% for wants and discretionary spending = $1,200 (0.30 X 4,000 = $1,200) 20% for savings and debt repayment = $800 (0.20 X 4,000 = $800) Oct 26, 2023