Finance & Wealth
How To Manage Your Money (50/30/20 Rule)
By Marko Zlatic | Sep 9, 2019
In this video I present a high level overview on how to manage your money using the 50/30/20 Rule.
Money management is 90% discipline and 10% knowledge. The 50/30/20 rule will force you to create a budget and understand where every single one of your after-tax dollars is going.
50% of your budget should be spent on needs which are are things that are essential to life and that you literally cannot live without.
30% should be spent on wants which could be classified as things that bring you joy and happiness, but are NOT essential to living. (Dining out, entertainment, hobbies, etc.) The final 20% should be spent on savings, paying off debt, and retirement planning.
MORE VIDEOS View All
-
Achnet 00:44
ACHNET Employee Development Platform for Enterprise -
Achnet 00:43
ACHNET Achiever Network - an overview of the absolute best community for highly successful professionals -
Achnet 00:54
Coaching Tip of the Day! Balance between working from home and parenting kids who are home too -
View more videos