Needs, wants, savings, otherwise known as the 50-30-20 rule, is a way of budgeting your income that can help you get control of your finances. According to the Bureau of Labor Statistics, the median weekly income for workers in the US from January to March 2023 was $1,100 a week.  The median refers to the midpoint, meaning that fifty percent of workers make more than this amount, with the other half making less. If we apply the 50-30-20 rule to this income,  a worker would spend $550 on their needs  (i.

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