Dedicates 30% of income for personal expenses
A great many people suggest, in application of the
50-30-20 rule
or advice from major industry figures, to use no more than 30 percent of monthly earnings for personal expenses, i.e., travel, dinners out, birthday gifts or subscriptions to gyms, newspapers and more.
If you have a monthly budget, you can plan for extra expenses and avoid spending more than you earn on something superfluous.
Here, too, the use of the
financial diary (click here and find out what it is).
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We deal with over-indebtedness prevention related to usury risk every day throughlistening, counseling and support. We are approached by employees and retirees who are in a situation of imbalance between income and expenses and cannot pay their debts.
In the video we show you the steps to follow to receive free support.
If you find yourself in a similar situation, please contact us!
Learn about other financial best practices
Good financial advice #07 Set financial goals
Planning is a cornerstone of good financial education and an excellent habit to always be in control of one’s finances. Setting goals, in life as well as in personal finances, is the key to success. Without goals, the road will surely be riskier.
Good financial advice #05 Devote 20% of income in savings
A good way to save is to follow the 50-30-20 rule that suggests using 50 percent of income for necessary expenses, 30 percent for personal expenses, and 20 percent for savings.
Good financial advice #04 Spend one minute of money a day
To be always sure of one’s financial and, therefore, economic situation, one only needs to devote 60 seconds each day to money management. How? Checking on investment trends, news, and important news.
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