This simple formula is a well-known way to divide your monthly income (available money you can spend) and allocate it into three main categories.
50% for your needs
Monthly living expenses such as rent, supermarket purchases, and public services. Simple debt payments fall into this category (such as your credit card or funds disbursed in car installments).
30% the joys of life
A new mobile phone, or dinner out, you deserve to enjoy the joys of beautiful life as long as you can afford it.
20% for saving
Monthly provision for debts, emergencies or contribution to an investment fund.
To control your spending, use the 20/30/50 formula
2019-11-04T14:21:36.647Z
This simple formula is a well-known way of dividing your monthly income (available money you can spend) and allocating it into three main categories.You can adjust the ratio to fit your needs and goals 50% for your monthly living expenses such as rent, supermarket purchases,
Source: emara