Tag Archives: college

Manage Your Money With the 50-20-30 Rule

Beware of little expenses; a small leak will sink a great ship.
                                                                                                                                                       – Benjamin Franklin

Success is managing you money like a pro. Leaving pay check to pay check is quite common scenario for most twenty- something. Forever waiting for the next paycheck to arrive. Budgeting and saving seems rather impossible when you in such situations. 

Every career girl  needs to manage her money and built up her saving for the opportunities that may arrive unexpectedly. This is one of the most simple and functional rule that I follow. It has changed the way I save and it is quite practical and simple. The 50 – 20 -30 rule is about allotting 50% of your money towards your needs – 20% towards  your savings – 30% towards your wants. 

 

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50%“Your needs”

Your rent, monthly transportation cost, groceries and other utilities that are required every month would be included under your needs. 50% of your budget goes into fulfilling your monthly necessities which are mandatory.

 

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20% “Your savings”

Savings are very important you never know when you might need extra money. Planing and early retirement or an investment.Every month put aside 20% of your paycheck in a separate savings account save yourself from temptation. Put the money out of sight and out of mind. At the end of the year you will be surprised  how much you were able to save with out much guilt and sacrifices. A little discipline with regards to money and budgeting goes a long way. 

 

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30% “Your wants”

I understand the list of wants is always full and we never run out of wants.This way you will be aware of spending 30% of your pay check on your wants. It can be spent on the dress you were eyeing for few days, clubbing, hobbies, or spa. But for the big trip you are planning that need a extra boost in budget simple twerk the rule a bit.
Instead of saving 20% save 30% and vice versa. You will have the extra money you need with out much compromise. Yes, it will require certain sacrifices but nothing good ever came easy.
 
 
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Chasing Happiness

Happiness is a work in progress.Happiness is beautiful and addictive. Practicing  5 Golden rules of happiness is a great way to chase happiness, but don’t forget to enjoy the chase.

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They say the mind replays the memories the heart can’t delete. This one one of the moment, that keeps repeating.Our happiness caught in a frame, the one that will never change. This is the best thing about photographs they remain the same even when the times and circumstances change.

It’s absolutely Ok if you are not perfect, neither is this picture. This is us, us being happy. Happiness does not need to be perfect.

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Following you heart even when it does not make sense does lead to great destination and happiness. 

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Some find happiness in travelling the dusty roads off the remotes regions. While some find it in house with the white picket fence.Some deems perfection to be happiness. What is happiness to you?  

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