Money basics · 10 Sept 2026
What is a budget? A teen’s guide to the 50-30-20 rule
A budget is just a plan for your money. Here’s the simplest one that actually works.
A budget isn’t a punishment. It’s a plan that tells your money where to go — instead of wondering where it went.
The 50-30-20 rule
- 50% for needs — travel, school supplies, phone recharge.
- 30% for wants — snacks, games, outings.
- 20% for savings — your goals and emergencies.
Try it with ₹1,000
₹500 for needs, ₹300 for wants, ₹200 saved. Do that for five months and you’ve got ₹1,000 saved without feeling it.
Track it for one month
Write every spend in a notes app for 30 days. Most teens are surprised by where their ‘wants’ money really goes.
