A lots of guys or girls don't know how to manage there money , u see them suffering to arrange their lives because they spend there money randomly and that what Leads to lots of financial problems even some people get paid a lots of money at the end of month u found them at the bank asking for advance because they have to pay bills .
So the question is how to manage your financial ?
Well it's simple the rule are like this : when u get a payment the firs thing u need to do is to take the half 50% of money and put it in a box called "needs money" this money is only for paying bills and buying foods (your necessary daily needs ) .
Then you take 30% of the other half to spend it in the thing's that making you happy like hobbies , gym , watching movies, have fun with friends ... that 30% is free to spend it , but you also need to manage it so you can keep up until next payment . So you don't need to touch the other half ,
-then there is 20% left wich is the life saving money , this amount of money you put it in the bank on a different account or if u don't trust bank put it somewhere that even air can't reach it , because this money is not allowed to touch it , this amount of money is only for crisis and your retirement life
and plans .
And for the people that ask about investment , well if you want to invest that 30% that u allocate it for fun you need to take some from it as investing is also fun thing , or on my opinion when u found yourself at the end of month that you still hive some from the 50% and 30% u put that rest of money on a box for investment with risks like trading crypto or trading stocks ... but don't use them for gambling its a forbidden thing that will destroy your financial life and destroying u .
Thanks for reading and i hope u found this article helpful.
And for the rule of 50%30%20% it not my idea i didn't make it , the rule have make it by successful people and it now teaching it by finance advisors貙 It has now become one of the most famous and important rules for financial life .
