Personal Finance Basics — Plan where your money goes before it disappears.
A budget is not about spending less. It is a plan that tells your money where to go before the month spends it for you.
A simple, popular split is to send 50 percent of take home pay to needs, 30 percent to wants, and 20 percent to savings and extra debt payments. It is a starting frame, not a rule, and you can adjust the percentages to fit your life.
Needs vs wants: Needs are things you must pay for to live and function, like rent, food, and transport. Wants are everything optional, like subscriptions and eating out.
Fixed costs stay the same each month (rent, insurance). Variable costs move with your choices (groceries, gas, fun). Variable costs are where you have the most control.
Pay yourself first: treat savings like a bill you owe yourself, and set it aside before you start spending.
15 practice questions with explanations. Free, and no account is needed to start.