Personal Finance

Here's What Your Budget Should Look Like If You Make $50,000 Per Year

Alex Kuzoian

Tracking your finances doesn't have to be complicated.

A budget starts with a list of your income and your expenses. There are plenty of tools you can use to manage your money from there, but one of the most simple strategies is the 50-30-20 rule.

And it's pretty straightforward: You split your money between your needs, wants and savings, according to those ratios.

Here's a case study.

CNBC crunched the numbers, and we can give you an idea of what your budget should look like if you make $50,000 per year. Check out this video for a step-by-step guide to making a budget that will work for you.

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