What's rule 50, 30, 20 to save money

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what rule 50 – 30 – 20 to save money

rule 20.30.20 helps individuals manage their monthly budget by establishing an effective framework for financial obligations and monthly expenses, in addition to allocating a portion of the salary to their future financial objectives, whether savings or investment, budget deficits or an increase in the amount of monthly expenses than is specified for them.

how do you divide the monthly salary?

once the salary is received, the monthly salary is divided into three parts according to rule 50.30.20, which is calculated as follows:

1. 50 per cent of salaries are allocated to basic fixed expenses that meet monthly requirements.
2. electricity and water bills, education expenses, health-care expenses, transportation expenses, communications expenses, etc.
3. the magnitude of these expenditures varies from person to person according to several criteria such as standard of living, number of dependants and monthly income.
4. 30% of salaries are allocated to variable expenses that can be expressed as funds that contribute to raising the standard of living and well-being.
5. like shopping, recreational activities, flights and gifts, the allocation of items to the changing expense section may vary from month to month, depending on the priority and objective to be achieved.
6. allocate at least 20 per cent of salaries to future financial plans, such as increased savings, accelerated debt payments, follow-up to an investment or savings plan for emergencies.

to give an example of the land, it was assumed that there was a person who received a monthly salary of 10,000, and who wants to manage his monthly budget following the 50-30-20 payroll base.

steps rule 50 – 30 – 20 to save money

we will mention in the following lines the steps of rule 50-30xx to save money:

1. step one: a deduction of 5,000 to cover basic expenses such as monthly premiums, housing expenses, service invoices, transportation expenses, etc.
2. the second step is to deduct 3000 to cover variable expenses such as shopping, travel, recreational and other activities.
3. step iii: at least 2000 savings, investment or early debt repayments are deducted.

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rule 50 – 30 – 20 to save money

the correct breakdown of monthly salary within the budget gives you a comfortable financial life away from financial pressures resulting from poor salary management and gives you the ability to cope with unforeseen financial crises, regardless of the different method of distribution of monthly salary, you must commit to applying the relevant instructions and steps that will help you achieve impressive results and reap the benefits of committing to the monthly budget.

how do we apply rule 50-30-20 to save money in the division of monthly salary?

once the salary is received, the monthly salary is divided into three parts according to rule 50.30.20, which is calculated as follows:

• 50 per cent of salaries are allocated to basic fixed expenses that meet monthly needs.
• e.g. electricity and water bills, education expenses, health-care expenses, transportation expenses, communications expenses, etc. the size of these expenses varies from person to person according to several criteria such as standard of living, number of dependants and monthly income.
• 30% of salaries are allocated to variable expenses that can be expressed as funds that contribute to raising the standard of living and well-being.
• like shopping, recreational activities, trips and gifts, the allocation of items to the changing expense section may vary from month to month, depending on the priority and objective to be achieved.
• allotment of at least 20 per cent of salaries to future financial plans such as increased savings, accelerated debt payments or follow-up to an investment or savings plan for emergencies.