With an annual salary of $50,000, it’s important that you track all of your spending. Fortunately, coming up with a quick, effective budget doesn’t have to be difficult. By following what is known as the 50-30-20 rule, you’ll be able to budget your money better — simply allocate 50% to needs, 30% to wants, and 20% to savings.

CNBC crunched the numbers in a recent case study. Your after-tax monthly income should land roughly around the $3,220 mark. Read the list below to see how much money should go toward your expenses — your mortgage or rent, car payment, car insurance, utilities, groceries, and more.

1. Your Car

Next to your home, your car is perhaps your largest expense. When you add up your car payment and auto insurance, you might be forking out roughly $400 or more each month just to keep your car on the road. Fortunately, auto insurance is an area where you might be able to save a significant amount of money.

How to cut your auto insurance rate in the next few minutes and potentially save hundreds per year:

Visit Liberty Mutual an auto insurance giant that could help you get a great auto insurance rate in minutes. All you have to do is enter a few details about your vehicle and then hang tight while the company hunts down your rate.

Try Liberty Mutual today and get your free auto insurance quote!

2. Life Insurance

Life insurance is often overlooked as many people assume it’s just another costly expense to factor into their budgets, but you can get an affordable policy that leaves your family with $1,500,000.

How to get affordable life insurance starting at $16 a month:

With Bestow, policies start at the price of a few coffees or your HBO Max subscription! Get a policy today and lock in your rate. As you get older and your health declines, this will allow you to keep paying the same modest rate. You won’t even need to fill out paperwork or provide a medical exam!

Get a quote from Bestow in 60 seconds. Remember, the younger you are, the cheaper life insurance generally is. Right now, you’re as young as you’ll ever be, so there’s no better time to get a policy.

3. Your Mortgage

Your mortgage is probably your biggest expense — eating up roughly $1,000 or more of your monthly income — but it’s also an opportunity for huge savings. You might be able to save thousands on your home by refinancing, which is the process of replacing your current home loan with one that has a lower interest rate.

How to refinance your mortgage quickly and potentially save thousands on your home:

Figure is a company that allows you to check your mortgage refinance rates in only a few clicks. This simple check won’t even impact your credit score. Once you find a loan you like, Figure allows you to apply quickly, thanks to their 100% online application. Get approved and you’ll be able to save on your home right away!

Of course, the first step is to check your rates with Figure today and find out your potential savings.

Currently, Figure is available in the following states: AK, AL, AR, AZ, CA, DE, FL, GA, IA, ID, IN, KS, LA, MA, MI, MO, MS, MT, NC, ND, NE, NH, NJ, NM, NV, OH, OK, OR, PA, SD, TN, WA, WI, WV.

4. Homeowners Insurance

Homeowners insurance is a necessary expense, but it could be costing you upwards of $100 every month — depending on the price of your home, your location, and a few other factors. Don’t settle for steep rates; this is an area where you can easily cut costs and still get the coverage you need.

How to switch to a cheaper homeowners insurance policy in minutes and potentially save hundreds per year:

Find an affordable rate with Liberty Mutual, a well known insurance company that will give you a quote online now in minutes. Simply provide a few details about your home and Liberty Mutual will immediately get to work for you.

Get your free quote from Liberty Mutual today.

5. Debt

Most people carry debt that often includes student loans, and of course, credit card debt. In total, you might be dishing out $300 or more toward your various debts each month. But rather than continuing to pay high interest fees month after month, you could eliminate your credit card debt by using a personal loan to pay it off.

How to escape the clutches of credit card debt and potentially save thousands with one swift move:

Credible is a marketplace that makes it easy to find a personal loan. Credible will find you multiple rates to compare at once, with options ranging from $600 to $100,000.

Check your personal loan rates with Credible today.

6. Groceries/Gas

Every month, you probably spend at least $300 and $100 on groceries and gas, respectively. Those with big families spend even more! While you’re largely at the mercy of food and gas prices, you could be earning cashback whenever you buy everyday items like groceries and gas.

How to get a debit card that earns cashback on groceries and gas (and get paid two days earlier!):

Most debit cards don’t allow you to earn cashback — Aspiration does. This FDIC-insured bank gives you 5% back on purchases from participating stores. When you open an account, you’ll get a debit card and fee-free access to a network of over 55,000 ATMs. When you sign up for direct deposit, you’ll get your paycheck funds up to 2 days earlier and Aspiration will even give you $25 for setting it up!

Go ahead and open your Aspiration bank account today to start saving on your everyday purchases!

7. Online Shopping

Today, virtually everyone shops online. After paying for clothes, entertainment, and other novelties, you might be spending upwards of $400 or more each month. Like in-store shopping, deals can be hard to come by — unless you shop in the right places.

How to save a fortune every time you shop online:

At VOICED Market, you could save up to 95% on your online purchases. This site is home to all types of exclusives, deals, coupons, and freebies on categories ranging from entertainment to food and everything in between.

When you subscribe to the VOICED Market newsletter, you’ll get every deal delivered right to your inbox so that you never miss an opportunity to save big!

8. Investing

Investing isn’t an expense, per se, but you should strongly consider investing using some of the 30% that you’re setting aside for “wants.” While investing involves a certain level of risk, good investments can help you grow your money and gain more financial flexibility.

How to invest your money like the top 1% do:

There are plenty of investment opportunities beyond the stock market. Blue-chip artwork is one of them. According to ArtPrice, this market has outperformed the S&P by over 250% from 2000 – 2018. And Masterworks makes it easy for anyone to invest in art. Pay a small management fee and you’ll get to buy into a portfolio curated by top experts. You’ll also receive professional storage, insurance, annual appraisals, and more.

Request your invite for Masterworks membership today to get started!