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The rule 50/20/30-how to save your money as easily as possible

NEWS_PUBLISH_DATE 03 April 2020
The rule 50/20/30-how to save your money as easily as possible image

The 50/20/30 rule is quite simple. Divide the money earned, after deducting the due expenses into three main parts. I&G brokers offer savings insurance that you can take advantage of.

I need money - how

We all have problems with budgeting. Everyone is wondering "what's up with my money". Wondering how to make extra money. ”By managing your income properly, you can even save effortlessly.

The 50/20/30 method

Saving is very important for everyone's financial success. The list of the most important expenses for the month, such as loans, taxes, additional health care, living and transportation, would be a positive basis for starting this endeavor. You can figure out how much of your money goes to entertainment. Force yourself to save a certain percentage of your income each month.

  • Where do the 50% needs go

These are the bills you can't help but pay. Things needed for your monthly survival. These are amounts covering rent or mortgage, transportation costs, taxes, food shopping, electricity, water, heating, etc. This does not include favorite things like Netflix and a bottle of good wine.

  • Where do 30% of desires go

These are all things we buy to pamper ourselves. The desire to make our lives much more fun and interesting without having a direct need for most things and services. The thought of saving some amenities is stressful, but it's good to limit unnecessary expenses. This category includes evenings out, movies, excursions, event tickets, even expensive internet or additional TV programs. This may be part of your answer to "how to make money".

  • How we distribute 20% of salary-savings

This percentage of your money can be transferred to a savings account or used for upgrading courses. Another good option is to buy shares and assets. This category also includes supplementary health insurance, emergencies and contingencies. Savings can repay additional liabilities. They help to cover a mortgage or loan faster. Saving even with a small salary would lead to the accumulation of insignificant amounts, which, however, would help you take your life into your own hands.

Findings from I&G

Proper financial management could lead to the accumulation of small capital. These savings are your lifeline. They would help in a difficult time, to start a new project, an exotic trip or to educate the children. Check the savings insurance offered by I&G Brokers, online today! Choose the type of insurance, use the inquiry form and start saving protected!