These expenses are those that you'd
most likely need to cover, regardless of
your location or employment such as
Rent Food, Transportation,Utilities bill etc.
Allocate 50% towards Necessities
Non-essential expenditures that elevate
your quality of life. This category includes
items like club memberships, weekend
getaways . dining out with friends , travel
for leisure etc . Limit your personal
discretionary spending to a
maximum of 30%
This Includes savings & Investment,
retirement funds, Loan repayments,
and emergency reserves—financial
priorities that you should contribute.
You can achieve more significant
progress toward a future free of
frustration by allocating as much of
your income as possible to this
It depends on various factors, but the
50/30/20 rule is a simple and effective starting
point for your budgeting journey.