The award-winning voice of North Cobb High School in Kennesaw, Georgia.

The Chant
The award-winning voice of North Cobb High School in Kennesaw, Georgia.

The Chant
The award-winning voice of North Cobb High School in Kennesaw, Georgia.

The Chant
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To NC’s credit: On the 50-30-20 rule

Rosalyn Schwanke, Editor in Chief
January 19, 2026
Rosalyn Schwanke
Navigating wants and needs can challenge any adolescent, especially when money enters the mix. Through applying guidance such as the 50-30-20 rule, these challenges grow easier to approach. Building budgeting habits young also promises financial health in the decades that follow, setting a basis for a stocked bank account at the bud of independence that blooms into adulthood.

The struggle to manage money never ends, and whether an individual lives as a student scraping by on a part-time job or a fat cat in the C-suite of a company, rules and tips to help with budgeting eagerly await use. Senator Elizabeth Warren’s 50-30-20 rule, and its variations such as 60-20-20 or 70-20-10, effectively break each paycheck down into three categories. While each rule might include unique specifications for these groups, the baseline 50-30-20 rule allocates 50% of income to needs, 30% to wants and 20% to savings. Depending on the case, paying off debt may straddle savings and needs.

Rosalyn Schwanke

“Most teenagers are spending a disproportionate amount of money on wants rather than needs, so if you’re smart, you can cut some of those wants out and put those into savings. I think as a teenager, it’s a lot easier to do that. When you’re a young adult and you’re living on your own for the first time, it becomes much harder to save because the cost of living is so much higher than it used to be. The smart thing to do, then, is build yourself up with savings now, while your expenses are fairly low,” Advanced Placement (AP) Microeconomics teacher Tara Sisino said.

These spending rules shift based on an individual’s cost of living; as such, a lower-income person in an expensive city might find themselves spending 70% on needs and just 10% on wants. People who can afford to might also opt to include charitable donations as an active, separate part of the budget, forming a 50-20-20-10 breakdown, wherein 10% of income supports change. These rules simply provide an outline for a budget, encouraging healthy savings habits without fostering unnecessary self-denial.

For high schoolers, the idea of devoting that proportion of money to needs may feel far away. Still, building habits that mirror those they will need in adulthood ensures a healthy start. The rule remains flexible as it allows for a budget that shifts with reality’s ebbs and flows, but it encourages a healthy balance between living, spending and saving as frequently as people can apply it.

 
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About the Contributor
Rosalyn Schwanke
Rosalyn Schwanke, Editor-in-Chief
In a flash of 7-year-old creativity, a young Rosalyn Schwanke wrote the first piece she felt truly proud of. In a dotted and lined notebook, with space at the top of each page for a crayon drawing, an undefeatable argument played out–the tooth fairy works harder than Santa Claus–and the writing fair judges agreed. With this newfound critical acclaim under her belt, she realized her love for writing. As a current NC senior, Rosalyn adores The Chant both as a creative outlet and an escape. She hopes to utilize her time as Editor-in-Chief to help other aspiring writers reach a new level of skill while she continues to research topics she loves. When she’s not at her keyboard, Rosalyn can be found thrifting, playing her bass, creating art or listening to a vintage record. As she enters her final year of high school, she hopes to make an impact as an officer in the Key Club and National Honor Society. Find Rosalyn on Instagram @rosalyn.s07.
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