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Friends, as you know, today everyone wants to manage or grow their money because in today's showy world, people spend unnecessary money and later repent, due to which they start having money related problems later.
because this is a very good way to manage money 50-30-20 Rule Of Money

We divide the expenses every month into 3 categories.

Needs

Wants/ Desire

Saving

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Needs

Needs First of all we talk about needs i.e. your needs without which you cannot live, you need those things like Grocery, Transport, Housing etc. to survive.
Suppose you earn 40000 rupees every month and according to the rule of 50-30-20, 50% of your ie 20000 will be spent in fulfilling your needs, in this you will have those needs without which life is not possible.
The second is the wants and desires that every person desires to fulfill them. You can live, but today every person wants to adopt a high lifestyle, due to which a lot of money goes into it, according to the rule of 50 -20-30, you spend 30% in fulfilling your desire, then as Told you that your salary is 40000, out of which you spend 30% i.e. 12000 in fulfilling your desire like shopping hobbies etc.
Now it is the turn in the rule of Savings 50-30-20, you either save 20% of your monthly income or they will go to repay your loan, then you will use 8000 from your 40000 salary in savings and debt like of credit cards, insurance, loans etc.
So now in which way you can manage money, for this you just have to implement some simple things in your life.
Like work your needs, if you do not make your budget, then make a budget, control your desires.
Many financial experts say that your monthly needs should never be more than 50%, if it ever happens that your needs increase by 50%, then you do not have to panic, all you have to do is that you have to Evaluate the monthly income carefully, this will give you an idea of ​​where your money is going.
That's why reduce your needs and bring your budget to 50% limit and as it happens you have to proceed next step

Define Wants/Desire

Desire/WantsBecause 30% of your income ends on your wants and desires because you need expensive clothes and everything else and here you should understand that your things can go well in normal things even without these expensive things
But the problem is when you are not able to differentiate between your needs and wants, just ask yourself whether you want to buy the thing, can you live without it or not, if the answer is yes, then it is in your wants. comes

Saving

SavingFinal step save your money, 20% of your earning goes to saving or paying off debt and you can reduce your wants or desires and add to savings, now the 50-30-20 rule is something like this for you. 50-20-30 way will be made
Keep 50% for your needs and save 30% for desires
This rule of managing money is very beneficial for those people whose income is very less, in this way a lot of money can be saved.
This rule will be very helpful in managing money and growing money.

I hope you all like it ☺️☺️☺️

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Thank You Very Much