The issue of personal finance should always be approached with great responsibility. Some believe wealth is usurped by hard work, while others feel free even with a limited budget. After all, as all financial experts say, it’s not the amount of income that matters for successful savings, but the right disposal.
We’ve put together the most popular tips to help you calculate the ideal salary. We tell you how to calculate this monetary formula.
Prioritize spending
We certainly understand that Black Friday is an important day on the calendar. But let’s be honest, a new bag can wait if the rent is due at the end of the month. To begin, highlight the main expenses you make from month to month: for example, rent, utility bills, purchase of essentials (medicine, groceries). Ideally, this amount should not be more than 30% of your income.
Formulate your goals
If you have long planned to play sports or sign up for individual support from a nutritionist, add the cost of these services to your “budget”. Add to that shopping, breakfast at the city’s most popular restaurants, a visit to the beautician, and a massage. Write everything down and don’t be shy. But before that, think about what you really need from this. All this should make up 40% of your ideal budget.
Take care of the “black day”
You won’t believe it, but even people with a stable high income manage their own finances. The golden rule is to save 30%. It should turn out that the amount allocated for a “rainy day” should be enough for 9 months without any earnings. Or the stock of money will be able to cover sudden large fees.
This money can also be invested to earn more. The methods can be different: deposit in a bank, an exchange or even a cryptocurrency.
Source: People Talk
Elizabeth Cabrera is an author and journalist who writes for The Fashion Vibes. With a talent for staying up-to-date on the latest news and trends, Elizabeth is dedicated to delivering informative and engaging articles that keep readers informed on the latest developments.
