Stowe uses the needs, wants, and savings framework to help you understand whether your household spending feels balanced. This is based on the 50/30/20 guideline: 50% of income for needs, 30% for wants, and 20% for savings and debt repayment.
This is a guideline, not a rule. Your household may look different depending on where you live, your income, your family size, your debts, and your goals.
What are needs?
Needs are the essentials your household relies on, such as rent or mortgage payments, utilities, groceries, insurance, transportation, required loan payments, and other necessary household costs.
What are wants?
Wants are lifestyle expenses and flexible spending, such as restaurants, takeout, streaming subscriptions, entertainment, shopping, travel, hobbies, and other non-essential spending.
What are savings?
Savings includes money going toward your future financial position, such as emergency savings, investments, retirement savings, extra debt repayment, and other savings goals.
How to view your breakdown
Go to the Household tab.
Swipe across the top chart until you see needs, wants, and savings.
Tap Needs, Wants, or Savings to see more detail.
Why Stowe uses this guideline
Stowe uses needs, wants, and savings to give you a simple way to understand your household’s spending. It is not meant to be a guilt trip or a strict rule.