Use the 50:30:20 Rule to Manage Your Money Like a Boss

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Finance is a personal topic. No one talks about it. One of the surveys shows when people meet they talk less about finance and health.

In my life first time I heard the word ‘personal finance’ was after my graduation.

I didn’t know what is stock market, bond market, inflation, and GDP numbers was.

No one told me this.

This subject was out of the syllabus for me.

Personal finance is personal, and it tells your relationship with the money you have.

If you’re a salaried person like me, it is a good idea to manage your finances by using simple methods.

In this topic, I’m going to tell you the 50:30:20 Rule of personal finance.

This rule works for all kinds of people. If you are a hard spender like me, then this rule is ok for you.

You don’t need to be frugal to manage your money. Money is a tool to trade-off. Sometimes you trade money for consumerism and experience. Some people trade money for time.

What is the 50:30:20 Rule of personal finance?

James is a software engineer.