It is a budget rule to help people reach their financial goals. It states that:

• You should spend up to 50% of your after-tax income on needs and obligations that you must-have or must-do.
• The remaining half should be split up between 20% savings and debt repayment and 30% to...

• Needs: these are those bills that you absolutely must pay and are the things necessary for survival (rent or mortgage payments, car payments, groceries, insurance, health care, minimum debt payment, and utilities).
• Wants: these include all the things you spend money ...