The Rule of 50/30/20

[Nomad]

According to this rule, you need to keep your expenses down to 50 percent, use 30 percent of your income for wants and wishes and save and invest the remaining 20 percent income. Do you follow this rule?

 

[King Belieal]

This rule is just a model and one can tweak it a little bit to suit with one's special financial conditions. Expenses at 50% is not realistic now.

 

[Stardom22]

I found it difficult to ever force my budgets to fit in these fixed types of strategies. I would rather sit down and plan for my own budget that best works out for me.

 

[Springtime]

I do not really follow this rule. I put about 15% of my earnings into a fixed deposit account; 55% for daily necessities; the remaining is for investment and entertainment.