Budget your salary with the 50/30/20 Rule

Here's how you can use the 50/30/20 budget rule to manage your finances.

It works like this:

💸 You should spend up to 50% of your net income on basic needs. These are things like your rent, bills and transport costs.

😎 30% can be set aside for things that aren't essential but make life more enjoyable. Think of it as an allowance to enjoy yourself.

🏦The remaining 20% should go towards repaying your debts or savings and investments.

‼️Final Note‼️

Personal finance is... personal!

Guidelines like these give us a frame of reference but we can (and should!) adjust the percentages to our individual circumstances 👍

#Adulting101 #personalfinance #budgeting #MyLemon8Diary #MyLemon8Journey #AdultingTips