3. Follow 20/30/50 Rule
The 50/30/20 rule is highly popular when you managing your finances. This rule is a percentage you need to follow for your expenses. According to this strategy, you should dedicate
- 50% of your after-tax income to necessities
- 30% of desires
- 20% to debt repayment and savings.
This strategy has been proven to be very efficient. However, if you think that you cannot separate that much money, you can always change the percentage and save as much as your salary allows you. But once again, do not forget to follow these tips in order to save more.