Step 5: Percentage of Wants, Needs & Savings (12 points)

Calculate the percentage of your budget assigned to needs, wants, and savings below.

Use the amount from each category in Step 4 and divide it by your monthly take-home pay (Box C in Step 1) salary. Then multiply that result by 100 to calculate the percent.

Note: Your percentages may not match a 50/30/20 budget.

	Sub Totals from Step 4	Monthly Salary from Step 1c	Percent
Needs	$	$	%
Wants	$	$	%
Savings	$	$	%

Step 6: Reflection on the 50/30/20 Method (15 points)

Write a 100-word reflection comparing your percentages to the 50/30/20 method. How well do you feel your budget aligns with the 50/30/20 method? What might you need to change in your budget?

Step 6 Answer (100 words)