How much are you budgeting monthly from your take home salary for your essentials, wants and savings?

Really think it depends. Some are single parents. Some are single, supporting their parents. Some are supporting their single parents. You get the idea.

My expenses are high. Total expenses for 2020 accounted for 61% of all my take home. Allowance alone is almost 20% of my monthly take home. But it's a necessity because both are unemployed. The point is, everyone's different so it's hard to compare.

I find 50/30/20 pretty reasonable honestly. And even if someone only saves/invests 10% that's not the end of the world. As long as he can be consistent about it, and maybe increase it bit by bit, I think he's set.

Also, the solution is really to keep increasing your income so that you can comfortably save and invest, yet without scrimping and saving like crazy until you lead a miserable life. Life is, after all, meant to be enjoyed.

For a NSF/Undergrad with a scholarship I guess 20% on food/travel
60% savings --> 80% of which goes into investment
20% parents allowance

50% savings -> may go into investments

40% expenses

10% wants

Those are good guidelines to follow but ultimately, it depends on your budgeting. E.g. As parents especially sole breadwinners, I think that it'll be quite hard for them to save as most will go to expenses. Most importantly is to keep track of your savings and try to save up at least a little every month (maybe minimally 10%).