4 Golden Rules to Ensure You Always Have Enough Money

4 Golden Rules to Ensure You Always Have Enough Money

Understanding where all your money is going and trying to save a little each month can be a difficult task. Unplanned expenses stemming from spontaneous desires can lead to you having nothing in your pocket sooner than you thought.

We studied ways to plan your family and personal budgets very carefully, and we recommend you try these four simple but highly effective golden rules.

How to plan a family budget

1. THE “50/30/20” METHOD

For whom is this:

Those with a stable income but unable to put money aside.

WAGES:

50% On basic monthly expenses (utility bills, food).

30% On less important but necessary things (digital TV, Internet, clothes).

20% For the future (savings, unforeseen expenses, gifts, etc).

2. THE “SIMPLE” METHOD

For whom is this:

Those who don’t want to have to strictly limit themselves.

Divide your budget into 2 parts: permanent expenses and everything else.

Permanent expenses: The amount you spend on essential items (food, rent, etc.).

4 golden rules to make sure you always have enough money
4 Golden Rules to Ensure You Always Have Enough Money

Everything else: All the entertainment and shopping you could live without (cafes, restaurants, concerts, movies, etc.).

4 golden rules to make sure you always have enough money
4 Golden Rules to Ensure You Always Have Enough Money

3. THE “BASE BUDGET” METHOD

For whom is this:

Those who do not have a fixed income and those who want to save.

Calculate your minimum monthly budget. Count how much you spend on necessities.

Any money you get on top of this can be put towards long-term goals.

4. THE “WEEKLY ALLOCATION” METHOD

For whom is this:

Those who unexpectedly run out of money several days before payday, and those who want to save.

Calculate how much of your monthly budget you want to spend and how much to save. Divide the first part into 4 weeks and give yourself a weekly allowance that you can spend on whatever you want. Exceeding the monthly limit is prohibited.

So take responsibility and control of your finances and don’t become a slave to money, make money your servant!

based on materials Finance

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