50 Money Saving Hacks: Earning money and saving it is a skill. If you are salaried and as soon as you get your salary, you get a huge bill of expenses. During this time, nothing is understood. Now only one question arises in the mind that how to save. This effort continues every month, but it is not possible to do so. Due to the high budget, all the money is exhausted. Along with this, savings also end. In case of emergency, one has to borrow.
Let us tell you that if you are thinking of saving and are not able to save, then understand this financial rule. Financial experts talk about this rule. By following this rule, you will be able to save easily. This is a very popular rule. We are talking about the 50-30-20 rule. This rule will help you in making a monthly budget.
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Know about the miraculous rule
Let us tell you that financial experts have divided this rule into three parts. That is, it has been divided into the form of need, desire, and savings. It is also called the 50-30-20 rule. According to this rule, 50 percent of your earnings have to be spent on essential expenses. Such as for household ration, electricity bill, and all other expenses.
After this, 30 percent of the remaining 50 percent money can be spent on your hobbies. You can spend this money on watching movies, traveling. After this, 10 percent of the remaining 20 percent money can be invested. At the same time, 10 percent money can be deposited in the form of savings, which can be used in an emergency.
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How to follow this rule
Let us tell you that to follow this rule, first of all, you have to calculate the monthly income. In this, you have to think about expenses, needs, and savings. After this, divide it and spend accordingly. In this way, you can prepare a monthly budget. Through this rule, you will be able to save as much as possible.
Understand it as an example, if your monthly income is 30000 rupees. Keep 15 thousand rupees out of it for your needs. After this, spend 10000 rupees on your hobbies. After this, save the remaining 5 thousand rupees. If you are investing in any scheme, then invest up to 3 thousand rupees in it and keep the remaining 2 thousand rupees as savings.