And no, it is not magic, it is mathematics, good predisposition to achieve the objective and a lot of discipline.
The fifty-two -week method actually works. The Japanese Kakeibo also works. Keep in a piggy bank all the dollar coins or the five-dollar notes that fall into your hand, we know it’s not so much, but it is better than nothing. And the 50/30/20 rule? Of course, and it is also easier to carry out than the three previous ways of saving month by month to being able to enjoy by the end of the year and realise whether you want to continue adding to your account or treat yourself with a designer a bag, shoes, or even a trip.
Looking after your money is not the most exciting task, but it’s as needed as taking your daily shower. Controlling expenses does not necessarily mean that you have to have a bad time or that you can not treat yourself: the more organized you are with the money, the more joys you will take because you can buy the bag of your dreams or take that course so expensive that will give you new career opportunities.
What is the 50/20/30 rule of budgeting? Budgeting 50/30/20
1. The measurements of a healthy account are 50/30/20 (it is the equivalent of 90/60/90). But what does it actually mean?
Your fixed expenses (rent, weekly groceries, gym fees or subscriptions to Netflix, HBO, Spotify, etc.) can not exceed 50% of your income. 30% goes to variable expenses (dinners, purchases, trips, etc.) 20% has to be saved. Once you know this, calculate if your accounts are healthy.
2. If you want to save money truly, set a realistic goal (remember that the savings will be 20% of your monthly income), divide it into months (maximum 1 year) and remove that amount from your account as soon as you receive your income. Put it into a separate account immediately to avoid the temptation of spending it,, and so you will have no choice to fix yourself with what you have left.
3. Use the Kakeibo because writing down what you are buying make you aware of the expenses and help you to take control of your money. If you do not feel ready to fill it out daily, do it once a week: take your mobile, enter your bank’s app and write down each expense.
Budget Your Money
Be careful with small purchases! The biggest holes in an account are the costs of between 15$ and 40$. When you don’t make it, it is not because you have bought something costly, it is because you have not controlled these small expenses, purchases that weignoreo but that become the sewer of our dreams.
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