27/08/2022
Personal Finance Rule of Thumb #1: 50-30-20 BUDGETING RULE
Most people save too little, and unknowingly spend too much. The 50/30/20 rule of thumb is a way to become aware of your financial habits. By spending less on the things that don’t matter that much to you, you can save more for the things that do.
The 50/30/20 rule of thumb is a guideline for allocating your budget accordingly: 50% to “needs,” 30% to “wants,” and 20% to your financial goals.
TIP: Having this rule is good for budgeting purposes, but if you want a more effective system to build wealth, we encourage you to practice the formula: Income-Savings/Investments = Expenses, wherein the priority is ensuring that you are able to set aside funds for savings/investments on a consistent basis.
---
Thinking where to put your 20% allocation for financial goals? We're here to help you!
We will guide you in the step-by-step process from selecting the right investment product for you that matches your objectives and risk appetite, setting up your account, to knowing how to maximize your earnings potential from these investments.
The good news is you can start for as low as ₱1,000! Amazing right?
Click here to know more: https://go.rampver.com/50-30-20
