Money Tips: No matter how much your salary is, if you make a budget like this, you will never be short of money..

Acharya Chanakya has said about saving money that money is your truest friend, which supports you in bad times when even your loved ones leave you. Therefore, everyone should try to save as much as possible, so that in bad times, you can fulfill all your needs with this saved money. Whether you are a job holder or a businessman, if you do not save money, then you will cause trouble for yourself in the future.

But in such a situation, the question arises of how much of your salary should be saved every month, so that the household work is done and savings are also made. For this, there is a special financial rule which everyone is advised to adopt. Whether your salary is less or more, if you make a household budget by adopting this rule, then you will never have to face a shortage of money in the future.

Prepare the budget by adopting this rule.

Have you ever heard of the 50-30-20 rule? This rule is very useful in terms of money. It means earning-spending-saving. If you follow this rule in terms of budget, then all the work will be done easily and you will never be short of money in the future. According to this rule, keep 50% of your income for the essential expenses of the family.

You will have to manage the remaining 50%. You can spend 30% of it fulfilling your hobbies. These are such expenses which can be avoided, but spending money on them gives happiness to people - if you want to watch a movie with family, want to travel, want to go shopping or do any work which is not very important, you just want to do for a hobby. Now save the remaining 20% ​​at all costs and invest it. Make it a habit that you have to save at least 20% of your income.

Understand with an example.

Suppose you earn Rs 80,000 every month. In such a situation, divide your salary according to the rule of 50-30-20. 50 percent of 80 thousand is 40 thousand which will be used for essential household expenses. 30 percent is 24 thousand, with which you can fulfill your hobbies and 20 percent is 16 thousand which you have to save at all costs. Yes, if you can save more money by reducing your hobbies, then it is even better. But even if you do not want to do this, keep at least 20 percent of the money for saving in any case. In this way, if you can save even 16 thousand every month, then you can save up to Rs 192,000 in a year.

Invest your savings in these places.

Take advice from your financial expert to invest the money and prepare your financial portfolio accordingly. As the income increases, 20% of your income will also increase. In such a situation, you can include many types of investments in your portfolio. Nowadays, there are many options like SIP, PPF, FD, Gold, Health Insurance, Accidental Insurance, etc. in which you can invest. Apart from this, take a good pension plan because everyone has to face old age. At that time, your money is the biggest strength because you do not have to depend on anyone for your expenses.

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