The 50/30/20 budget was devised by current Democrat presidential candidate and Harvard academic, Elizabeth Warren, in a book she co-wrote in 2005 called All Your Worth: The Ultimate Lifetime Money Plan. According to Warren, the 50/30/20 budget is a great way to put your spending and saving on autopilot. It’s easy to follow and helps you shift your focus to what you can spend money on. And best of all, you don’t have to track every dollar you spend.