So I’ve recently started to split my finances. I try to follow the 50/30/20 budget rule.
It’s like allocating 50% of your budget to needs such as housing and transportation. 30% goes toward wants, which can be eating out, shopping, travel, and more. Finally, 20% goes toward savings and debt. Starting doing this since November.
Have anyone else tried the 50/30/20 rule? Is yes, how did it work out for you?
That’s great Shawn. Thanks for telling about the rule. Generally don’t have a rule but just sharing approximate splits
40% savings, investment and debt
30% needs(household expenses, bills etc.)
20% wants(shopping, eating etc.)
Oh that’s a nice split! Have you been following these for some time now?
Yes thanks since I have started working , around 5 years. Looking forward to hear and learn from others