Utility News Desk !!! Often, most of us spend all our money within a few days of getting the payment. In such a situation, it becomes very difficult for the person to spend the whole month. If you imagine a good life financially. In such a situation, it is important for you to have good financial planning. In this episode, today through this news, we are going to tell you about a golden rule of 50:30:20, with the help of which you will be able to spend your money in a systematic manner and also secure your future. With this golden rule of 50:30:20, you can make your life financially better by satisfying your needs, wants and savings. Let us understand in detail about this golden rule of 50:30:20 in this episode-
As much as you get paid according to experts. This should be divided according to the golden rule of 50:30:20. In this, you should spend 50 percent on your needs. Needs can include house rent, utilities, groceries, health expenses, children’s school college fees or purchase of any other essential household items. All this has to be spent.
You can spend the remaining 30% of your salary on your hobbies and desires. This includes watching movies, going to some nice place, buying new gadgets or equipment, etc. The remaining 20% is salary due. You have to save it. The best way to save is to invest this 20% of your salary. You can invest it in different places. Save some money in the bank, invest in a mutual fund by doing SIP, invest in a small savings scheme. This will give you good returns on your money from different places.