The principle is simple. 50% of your salary is for all the necessities you need to pay for on a monthly basis. It means that half of your salary should go for rent, bills, food, and transportation.

20% is what you save. It doesn’t matter if you’re saving for a big future investment or for rainy days – nobody can argue about the benefits of having some money saved up.

Finally, use the remaining 30% for personal expenses. Eating out, traveling, buying clothes, or anything else you want but don’t necessarily need falls under this category.

The best thing about the 50:20:30 rule is that it can be applied to any salary. No matter how much you earn, you can use it to improve your finances.

The post 50:20:30 is a Simple Money Managing Rule That Will Help You Stick to Your Budget appeared first on My Daily Magazine - Art, Design, DIY, Fashion and Beauty !.

The principle is simple. 50% of your salary is for all the necessities you need to pay for on a monthly basis. It means that half of your salary should go for rent, bills, food, and transportation.

20% is what you save. It doesn’t matter if you’re saving for a big future investment or for rainy days – nobody can argue about the benefits of having some money saved up.

Finally, use the remaining 30% for personal expenses. Eating out, traveling, buying clothes, or anything else you want but don’t necessarily need falls under this category.

The best thing about the 50:20:30 rule is that it can be applied to any salary. No matter how much you earn, you can use it to improve your finances.

The post 50:20:30 is a Simple Money Managing Rule That Will Help You Stick to Your Budget appeared first on My Daily Magazine - Art, Design, DIY, Fashion and Beauty !.