The 50/30/20 rule is a solid foundation for any budget structure. It dictates that 50% of your net income goes to Needs, 30% to Wants, and 20% to Savings/Debt Repayment.
The Calgary Context
With fluctuating property taxes and utility costs, hitting that 50% Needs mark can be tough in Alberta. If your structural Needs exceed 50%, the cut MUST come from your Wants, never your 20% Savings allocation.