How much should I save each month if I have debt?

Ugh, debt. It’s the worst, right? How much should you save each month when you’re already struggling to keep your head above water with those payments? It feels impossible sometimes. I know, because I’ve been there. Remember that time I was drowning in credit card debt from that impulsive online shopping spree? Yeah, not my finest moment.

Anyway, I read about this thing, the 50/20/30 rule, and it actually kinda makes sense. Basically, you split your money after taxes—your net income—into three parts. Half, or 50%, goes to your essential stuff: rent, groceries, gas…you know, the stuff you absolutely need. Then, 30% is for your “wants”—that latte you love, that new game you’ve been eyeing… things that aren’t necessary but still make life enjoyable. And this is the crucial part: the remaining 20% goes towards killing that debt and building savings.

It’s not a magic bullet, obviously. I mean, when I first tried it, I had to really cut back on those “wants,” like, seriously. No more fancy coffees for a while, which sucked, but it was so worth it to see that debt number shrinking. Think of it like this: that 20% is your future self thanking you. A smaller, less stressed future self. You wouldn’t believe the weight it lifted, honestly. The peace of mind is priceless.

The thing is, 20% might not seem like much. Maybe it’s barely enough to make a dent in your debt. But it’s a start, right? Every little bit helps. And maybe as you pay down debt, you can bump that percentage up. I’m still working on it, honestly. It’s a journey, not a race. But seeing progress? That’s the best motivation. So yeah, start with that 20%, see how it goes, and adjust as needed. You got this!