How do you stay financially healthy?
What is the best method to budget?
Budgeting method | Good for… |
---|---|
1. Zero-based budget | Tracking consistent income and expenses |
2. Pay-yourself-first budget | Prioritization of savings and repayment of debt |
3. Envelope System Budget | Make your consumption more disciplined |
4. 50/30/20 budget | Categorizing “needs” over “wants” |
What is the essence of the 50 30 20 rule? The 50/30/20 rule budget is a simple way of budgeting that does not involve detailed budget categories. Instead, you spend 50% of your salary after tax on needs, 30% on wants and 20% on savings or debt repayments.
What are three keys to financial success?
3 keys to financial success
- Makes money.
- Spend money.
- Save money.