Set up the 60% solution

Set up the 60% solution budget

The 60% solution puts 60% of your income toward essentials (housing, utilities, food, etc.) and splits the other 40% among savings, retirement, and discretionary spending. It's a clear structure that many people find easy to follow.

Steps

• Create a new budget. Go to Budgets → New budget → "Split my income."
• Enter your amount and accounts. Enter your income for the period. Select the accounts this budget applies to.
• Create a 60/40 allocation rule. When asked how to split your money, use the 60% Solution template, or choose "Create new rule." Add items: e.g. 60% to an "Essentials" category or account; then split the remaining 40% into savings, retirement, and discretionary (e.g. 10% savings, 10% retirement, 20% discretionary), or use Remainder for one of them.
• Apply to budget. Click "Apply to budget." Adjust the suggested lines if needed (e.g. rename or reassign categories). Save.
• Track. Use your budget and dashboard to see how much you're spending on essentials vs the rest.

You're all set. Your 60% solution budget is ready. Review it monthly and adjust the 40% split if your goals change.

See also How to choose and set up your budgeting method, Set up the 50/30/20 budget, and Income allocation rules.

Related articles

• How to choose and set up your budgeting methodChoose the budgeting style that fits you—from simple splits to category-by-category planning—and set it up in a few steps.
• Set up the 50/30/20 budgetSet up the popular 50/30/20 rule: 50% needs, 30% wants, 20% savings and debt repayment.
• Income Allocation RulesSet up rules to allocate income to categories, accounts, or goals automatically.