Hey Bosses! Today I’m giving you guys a financial tip that I use to manage my money. Once you start, it becomes a habit and gives you an idea of how much you should spend or use for things you need. Here it is:

 

50/30/20 Rule:

  • 50% of your money/budget goes to your NECESSITIES. (Ex. groceries, hygiene products, bills, gas, etc.)
  • 30% Goes to your WANTS: (Ex. Shopping, hobbies, etc.)
  • 20% goes to SAVINGS: 

 

Of course, you can make personal changes to these rules. For example, when I get older, I plan on using my 20% for savings and future investments. Or, if you want to focus more on saving, make 30% your savings and 20% your spending money. It’s all up to you.

 

Thats Money Tip #1 for all you boss babes! There will be plenty more to come!

***Leave comments on what you want my next post to be about! I’ll answer your questions and give you advice on whatever topic you want!***

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